Bronco Drilling Co. Inc., Oklahoma City, (Nasdaq: BRNC), has acquired Eagle Well Service Inc., Liberal, Kan., and related
subsidiaries for $2.5 million in cash and approximately $14.9 million in stock and will assume approximately $3 million in
debt in a total deal value of approximately $20.4 million. Eagle Well operates in Oklahoma, Texas, Kansas and New Mexico, and has 31 workover rigs, 24 of which are currently deployed. Bronco chief executive says Frank Harrison, “We believe the well-services business is a natural complement to ours and an entree into more mid- to late-cycle assets that could provide insulation from cyclicality.”