Calgary-based Warrior specialises in making top drives as well as draw-works and automated tubular tongs.
Analysts at investment bank Tudor Pickering Holt that cover Patterson called the deal intriguing.
“The top drive has become an indispensable fixture on today’s modern rigs, and the universe of top drive manufacturers is relatively consolidated (NOV, Nabors’ Canrig and Tesco the leading providers),” the analysts said in a note.
