Atlantica, Energy Drilling contemplating merger

Tender rig specialists Atlantica Tender Drilling and Energy Drilling are planning to merge into what is expected to become the second largest tender drilling contractor. The two companies on Friday signed a letter of intent for the merger.

According to the announcement, operations are backed by solid backlog against Petrobras and Total and a strong track record operating for Thai national oil company PTTEP. For the year ended 2018, the combined company had revenues of $211 million and an EBITDA of $114 million.

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