Monday, November 2nd, 2009
TerraVest's well servicing biz acquires four service rigs, terms not released
VEGREVILLE, Alta. - TerraVest Income Fund (TSX:TI.UN) said Monday its well servicing business has acquired four service rigs for an undisclosed amount.
Diamond Energy Services Limited Partnership, one of six businesses in which TerraVest is invested, acquired the mobile service rigs from a privately held well services business.
The acquisition will increase Diamond's service rig fleet to 24 rigs.
The focus for the new rigs is west-central Saskatchewan and east-central Alberta, areas in which Diamond does not currently operate.
TerraVest is invested in several businesses including a heating, ventilation and air conditioning business, a heavy-duty farm equipment company, a home textile products provider and a well servicing company for the energy sector.
