Ensign acquires Citadel Drilling, adds six Permian rigs

Ensign Energy Services agreed to acquire Citadel Drilling for $65 million, adding six high-spec AC rigs to its Permian Basin fleet.

The all-cash deal, funded through cash on hand and credit facilities, brings Citadel’s rigs and managed pressure drilling packages, operated as Opla Energy Services, into Ensign’s operation. Citadel’s fleet features automated drilling control systems and equipment capable of drilling ultralong lateral sections, similar to Ensign’s existing rigs. Ensign said the acquisition increases its Permian capacity by 20%.