Allis-Chalmers director reports 5.6% stake in company after share purchase

By Lisa Kerner

Charlotte, N.C., Feb. 20 - Allis-Chalmers Energy Inc. director Alejandro Pedro Bulgheroni purchased 453,896 shares of the company's stock priced from $9.77 to $12.64 per share.

Bulgheroni, president of Associated Petroleum Investors Ltd., acquired the shares between Feb. 11 and Feb. 14, according to a schedule 13D filing with the Securities and Exchange Commission.

The investor beneficially owns 1,960,896 shares, or 5.6%, of Allis-Chalmers' outstanding stock.

On Jan. 24, Allis-Chalmers agreed to acquire Bronco Drilling, an Edmond, Okla., contract land drilling company, in a cash and stock deal valued at $437.8 million, or $16.33 per share.

It was previously reported that the total merger consideration will consist of $280 million in cash plus Allis-Chalmers common stock valued at $157.8 million.

Houston-based Allis-Chalmers provides services and equipment to oil and natural gas exploration and development companies.

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