December 19, 2016 08:00 ET
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2016) - Essential Energy Services Ltd. ("Essential") (TSX:ESN) announces it has closed the previously announced transaction with Precision Drilling Corporation ("Precision") to sell its service rig business in return for Precision's coil tubing and pumping assets and cash proceeds of $12 million.
Essential provides oilfield services to oil and natural gas producers, primarily in western Canada. Essential offers completion, production and abandonment services to a diverse customer base. Services are offered with masted coil tubing, fluid and nitrogen pumping and the sale and rental of downhole tools and equipment. Essential offers the largest masted coil tubing fleet in Canada. Further information can be found at www.essentialenergy.ca.
The TSX has neither approved nor disapproved the contents of this news release.
Garnet K. AmundsonPresident and CEO(403) firstname.lastname@example.orgKaren PerasaloInvestor Relations(403) email@example.com
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