Sup-R-Jar provides its tools primarily on a rental basis to exploration and production companies for oil and gas wells located on land, in the inland waterways and offshore through its facilities in Humble and Corpus Christi, Texas, Broussard, Louisiana and Laurel, Mississippi, US.
Under the terms of the agreement, W-H paid $47.5 million in cash all of which was funded by the current W-H credit facility. Consistent with W-H’s previous acquisitions the Sup-R-Jar management and employees will be retained and Sup-R-Jar will be operated as a separate business unit within the company’s drilling segment.
