Total Energy Services (TSE:TOT) has released an update.
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Total Energy Services Inc. has bolstered its presence in the Australian market by acquiring Saxon Energy Services Australia Pty Ltd., expanding its drilling rig fleet to 16, with a seventeenth rig on the way. The $34.8 million deal was financed through cash reserves and existing credit facilities, and is expected to significantly enhance Total Energy’s operational capacity. In conjunction with the acquisition, industry veteran Muhammad Yasir Nisar has been appointed as Assistant Vice President, Drilling Services.
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