Key Energy To Acquire Moncla Cos.

Key Energy Services Inc., Houston, (Pink Sheets: KEGS) plans to acquire privately owned, Lafayette, La.-based Moncla Cos. for $112 million in cash and $33 million in notes and assumed debt for a total $145 million. Moncla is one of the largest private well-service companies in the U.S., operating 37 daylight rigs for well-servicing and workovers and eight 24-hour rigs for shallow drilling, sidetracking and deep workovers in Texas, Louisiana, Mississippi, Alabama and Florida . Moncla also has the largest fleet of workover barges in the U.S., with eight barge rigs. In addition to rigs, Moncla owns rig-up, swab, hot-oil and anchor trucks, tubing-testing units and rental equipment.