Total Energy (Savanna Australia) Acquires Saxon Energy Services Australia from SLB
March 7, 2024
Total Energy Services Inc., through its wholly owned subsidiary Savanna Energy Services Pty Ltd., completed the acquisition of Saxon Energy Services Australia Pty Ltd from SLB for US$34.8 million (plus up to US$2.0 million payable on the first anniversary). The deal increases Savanna Australia's land drilling rig fleet to 16 rigs and substantially increases the fleet's depth capacity; the acquisition was funded with cash on hand and existing credit facilities.
- Buyers
- Total Energy Services Inc., Savanna Energy Services Pty Ltd.
- Targets
- Saxon Energy Services Australia Pty Ltd.
- Sellers
- SLB
- Industry
- Energy
- Location
- Australia
- Transaction Type
- Buyout
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