Unit acquires Sauer Drilling

Tulsa, Okla.-based Unit Corp. said June 29 that it has agreed to acquire Casper, Wyo.-based Sauer Drilling Co., a wholly owned subsidiary of Tom Brown, for $34.7 million in cash and an amount equal to Sauer’s working capital at close.

The acquisition, expected to close July 30, includes nine drilling rigs, a fleet of trucks and an equipment and repair yard in Casper.

Sauer Drilling and its predecessors have operated in the Rocky Mountains for more than 25 years, Unit said.

“At the close of this acquisition, our rig fleet will total 100 land drilling rigs. Of the 100 rigs, 97 are contracted and the remainder have strong expressions of intent,” John Nikkel, chairman and chief executive officer of Unit, said.