Pace Of Deal Making Rising In Oil Services Sector

Oil services giant Halliburton is set to acquire well-intervention specialists Boots & Coots for US$240.4mn in a stock-and-cash deal which is expected to close by mid-2010. Texas-based Boots & Coots credentials in well intervention and pressure control services were a big draw to Halliburton, which recognises that a growing share of future oil and gas production will originate from unconventional geological structures and mature assets, extraction from which requires greater niche technical capabilities.

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