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OFS - Schlumberger sells Drilco, 16 Middle East rigs in two deals - May 2019

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Schlumberger agreed to sell two of its businesses for around $400 million each. An affiliate of private equity firm Rhone Capital will acquire Schlumberger’s Drilco, Thomas Tools and Fishing & Remedial services and part of a manufacturing facility in a deal announced on May 14. In late April, Schlumberger agreed to sell its Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million to the drilling subsidiary of Saudi Arabia’s Industrialization and Energy Services Co.......
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