US oilfield services player Nine Energy Services has sold its production solutions segment to private equity-backed Brigade Energy Services for $17 million in cash, writes Caroline Evans.
The deal makes Nine a pure-play completions-focused services provider while also making Brigade the largest privately held well-services company, according to a release.
The assets sold consist of 107 workover rigs, ancillary equipment and real estate associated with 13 operating facilities around the country.
