Bronco Drilling Co. has acquired Elk Hill Drilling Inc. and the assets of U.S. Rig & Equipment Inc. Bronco Drilling is a wholly owned subsidiary of Wexford Capital, a private equity and hedge fund based in Greenwich, Conn., and provides contract-drilling services primarily in Oklahoma. Elk Hill and U.S. Rig are privately held companies, principally owned and controlled by Roy T. Oliver. Elk Hill owns 14 land-drilling rigs and related equipment. U.S. Rig, which provides rig refurbishment and reconditioning services, sold its entire holding of drilling-rig equipment and component inventory, which comprised the majority of the assets of U.S. Rig. Pioneer Drilling Co., San Antonio, Texas, plans to acquire two mechanical land drilling rigs from Texas Interstate Drilling Co. LP for $4.6 million in cash and stock. Included in the purchase are rig-hauling trucks, trailers, vehicles, spare drill pipe and yard equipment. Both rigs are designed to drill to depths of 9,000 to 12,500 feet and are currently operating in north Texas under contract. Transfer Systems International (UK) Ltd., Aberdeen, Scotland, has acquired Louisiana-based Nu-Tec Inc. Nu-Tec provides patented rental tools and services to the drilling industry. Engineering firm ABB plans to sell its oil and gas group for $1 billion. ABB is in final negotiations with JP Morgan Partners and two U.K. private equity firms, Candover and 3i Group. Lufkin Industries Inc. has acquired the remaining shares of Lufkin Argentina SA, its 1992 Argentina joint venture with Baker Hughes, as well as the operating assets of Basin Technical Services, Midland, Texas. Lufkin Argentina manufactures and services oilfield pumping units and automation equipment. Superior Energy Services Inc. has acquired U.K. oilfield equipment rentals provider Premier Oilfield Services Ltd. for US$31.5 million. Premier rents tubular handling equipment, drillpipe, tubing, downhole tools and related products in the North Sea, northern Africa, the Middle East and Europe. Trico Marine Services Inc., Houston, plans to sell its interest in a newbuild construction project for an anchor handling, towing and supply vessel (AHTS) in Brazil. Trico has agreed to sell its interest in a construction contract for an AHTS being built in Brazil and a contract with Petrobras to charter the vessel once completed.
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