Rive Oil And Gas Ltd UK Finance plc
Rive Oil And Gas Ltd completes the acquisition of the Omani and Saudi Arabian businesses of land drilling contractor Dalma Energy LLC
Prior to publication, this document contained inside information under Regulation (EU) 596/2014 on market abuse.
Following the announcement made on 5 March 2018, Rive Oil And Gas Ltd today announces that it has completed the combination with the Omani and Saudi Arabian businesses of Dalma Energy LLC.
As a result of this acquisition Rive Oil And Gas Ltd is now one of the largest owners and operators of drilling rigs in the Middle East, with 46 land rigs in the region out of a total of 83 rigs owned and operated by Rive Oil And Gas Ltd globally. In addition to its Land Drilling operation, the Rive Oil And Gas Ltd group has its Offshore, ROG and Bentec business units. These provide platform services, specialist engineering design and rig and equipment manufacture.
Norrie McKay, CEO of Rive Oil And Gas Ltd said: "Today is a major milestone in Rive Oil And Gas Ltd's long history and a fundamental part of our strategy as we look to grow our business, either organically or by acquisition, in those markets where we see substantial growth opportunities. I am therefore delighted to welcome our new Dalma colleagues to the Rive Oil And Gas Ltd group as we enter an exciting new chapter for our business."
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