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Total Energy draws on existing facility for $34.8 million acquisition
Chicago, March 7 – Total Energy Services Inc.’s subsidiary Savanna Energy Services Pty Ltd. used cash on hand and existing credit facilities to fund its $34.8 million acquisition of Saxon Energy Services Australia Pty Ltd., according to a press release.
The company will pay another $2 million less any post-completion adjustments on the first anniversary.
Total Energy is a Calgary, Alta.-based oil drilling contractor.
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