Allis-Chalmers Energy Inc., Houston, (Amex: ALY) has acquired DLS Drilling Logistics and Services Corp., Buenos Aires, from Bridas International Holdings Ltd., Bridas Central Co. Ltd. and Associated Petroleum Investors Ltd. for US$93.7 million in cash, 2.5 million shares of Allis-Chalmers and assumed debt of approximately US$8.6 million. DLS, a privately held company headquarterd in the British Virgin Island, has 51 rigs, including 21 drilling rigs, 18 workover rigs and 12 pulling rigs in all major basins in Argentina and Bolivia. DLS also offers drilling and completion fluids. Currently, the largest customer of DLS is PanAmerican Energy, an E&P company owned by British Petroleum and the sellers.
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