Independence Contract Drilling, Inc. acquired Sidewinder Drilling, LLC.
Details of the Acquisition
On July 19, 2018, Independence Contract Drilling, Inc. (NYSE: ICD) and Sidewinder Drilling, LLC jointly announced their entry into a definitive merger agreement. Under this agreement, Independence Contract Drilling, Inc. acquired all of the outstanding equity interests in Sidewinder Drilling, LLC. This transaction marked a strategic business combination between the two drilling companies.
Key Aspects of the Buyout
The acquisition was a significant event in the drilling industry, bringing together the assets and operations of both entities.
| Entity | Role in Acquisition | Date of Agreement |
|---|---|---|
| Independence Contract Drilling, Inc. | Acquirer | July 19, 2018 |
| Sidewinder Drilling, LLC | Acquired | July 19, 2018 |
This strategic move aimed to enhance the operational footprint and capabilities of the combined entity in the contract drilling sector. For more detailed information regarding this acquisition, you can refer to the official press release by Independence Contract Drilling, Inc. and Sidewinder Drilling, LLC.
