The EU Imposed Sanctions Against the Oilfield Services of Eurasia Drilling Company and SSС
The European Union included in the sanctions list of large oil and oil contractors – Eurasia Drilling Company (EDC) and JSC Siberian Service Company (SSС), the publication reported in the EU official journal. In addition, the sanctions were imposed against another oilfield company – the Novosibirsk LLC Neftegazpromstroy. The EDC was …
Schlumberger Scraps Bid for Eurasia Drilling Stake
U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia’s Eurasia Drilling Company (EDC) Russia’s Federal Anti-monopoly Service (FAS) said on Monday. (Photo: EDC) Schlumberger, which has its own business in Russia, said last month it would withdraw its application to buy a stake in EDC …
Schlumberger to Abandon Russia’s EDC Bid if Approvals Not Met Soon
Schlumberger NV (SLB.N) said on Friday it would withdraw its application for the acquisition of a stake in Russia’s Eurasia Drilling Company (EDC) if it is not successful in getting approvals soon. Schlumberger said it would buy a stake in EDC, Russia’s largest oilfield services provider, back in 2017. “Unfortunately, …
Schlumberger Announces Agreement to Acquire Majority Share in Eurasia Drilling Company
Agreement extends successful long-term relationship in the conventional land drilling market Schlumberger announced today an agreement to acquire a majority (51%) equity interest in Eurasia Drilling Company Limited. Closing of the transaction is subject to approval by the Federal Antimonopoly Service of Russia (FAS). The agreement extends the successful long-term …
Eurasia Drilling: Merger to be Completed on the 18th of November as GDR’s and Shareholders Receive Payments
Eurasia Drilling Company Limited hereby announces that on 16 November 2015, the Cayman Islands Registrar of Companies registered the plan of merger in respect of the merger between the Company and EDC Acquisition Company Limited, a company formed by one of the significant shareholders of the Company solely for the …
Eurasia Drilling Company: EGM – 89.3% of Shareholders Vote In Favour of the Management Buyout
Eurasia Drilling Company Limited (the “Company”) announced that it had agreed with certain members of the Company’s management team and certain significant shareholders (the “Participants”) the terms of a merger (the “Merger”) between the Company and EDC Acquisition Company Limited (“EACL”), a company formed by one of the Participants solely …
Eurasia Drilling Company: 2016 Outlook- Aiming for $1.7bn in Revenues
As a result of requests from investors and shareholders, Eurasia Drilling Company Limited (the “Company”) announces the Company’s view on the group’s outlook for 2016. The Company expects 2016 revenue to be approximately $1.7-1.8 billion (assuming 64 Rubles to the US$), EBITDA to be approximately $390-420 million, and Capex to …
Eurasia Drilling: Increases Management Buyout Offer to $11.75
Eurasia Drilling Company Limited (the Company) announces that it has today agreed with certain members of the Company’s management team and certain significant shareholders (the Participants) the terms of a merger (the Merger) between the Company and EDC Acquisition Company Limited (EACL). On 8 October 2014, the Company announced that …
Eurasia Drilling: Jack-Up Saturn’s Contract Cancelled
Eurasia Drilling Company Limited announces that it has received a letter of early termination of the contract for its jackup rig SATURN effective from October 8’th 2015. The current contract was expiring on 8’th January 2016. The early termination fee consists of 100% of the contract rate for 30 days …
Eurasia Drilling Company: Announcement of Proposed Merger & to De-List GDRs
Eurasia Drilling Company Limited (the Company) announces that it has today agreed with certain members of the Company’s management team and certain significant shareholders (the Participants) the terms of a merger (the Merger) between the Company and EDC Acquisition Company Limited (EACL). On 8 October 2014, the Company announced that …