Private equity-backed Quintana Energy Services (QES) is merging with the US onshore services arm of Oslo-listed Archer in an all-stock deal that analysts say is a harbinger of future consolidation in the US support market.
Under the terms of the deal, Archer will receive common shares in QES equal to a 42% stake in the combined entity.
In return, Archer will contribute its pressure pumping, wireline and directional drilling units to the new company, which will continue to operate under the QES name.
