Add-on Acquisition • Oil/Gas Exploration

Weatherford Acquires Symbol

On August 2, 2002, Weatherford acquired oil/gas exploration company Symbol

Acquisition Context
  • This is Weatherford’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Weatherford’s 2nd transaction in the United States.
  • This is Weatherford’s 1st transaction in Texas.

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M&A Deal Summary

Date August 2, 2002
Target Symbol
Sector Oil/Gas Exploration
Buyer(s) Weatherford
Deal Type Add-on Acquisition

Target Company

Symbol

Amarillo, Texas, United States
Symbol, Inc. is a provider of oil well drilling equipment leasing & rental services.
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Buyer Overview 1

Buyer

Weatherford

Houston, Texas, United States

Category Company
Founded 1972
Sector Energy Services and Equipment
Employees19,000
Revenue 5.5B USD (2024)
DESCRIPTION
Weatherford office in Houston, Texas.
Weatherford office in Houston, Texas.

Weatherford is a diversified international energy service and manufacturing company that provides a variety of services and equipment to the exploration, production, and transmission sectors of the oil and gas industry. The Company operates in virtually every oil and gas exploration and production region in the world and divides its business into two separate segments: Drilling Services and Production Systems. Weatherford was formed in 1972 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 2 of 16
Sector: Oil/Gas Exploration 1 of 1
Type: Add-on Acquisition 2 of 16
State: Texas 1 of 8
Country: United States 2 of 12
Year: 2002 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-02-08 Christiana Companies

Washington, United States

Christiana Companies, Inc. is a provider of commercial services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 Niagara Screen Products

St. Catharines, Ontario, Canada

Niagara Screen Products Ltd. is a manufacturer of woven wire and metallic screening and filtration products.

Sell -