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Author Archives: Kara Slaughter

People, Companies & Products September/October 2018

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Independence Contract Drilling, Sidewinder to merge Independence Contract Drilling (ICD) and Sidewinder Drilling have announced their entry into a merger agreement in which ICD will acquire all outstanding equity interests in Sidewinder. The merger will combine two pad-optimal drilling fleets and operations focused on the Permian and other basins in Texas and its contiguous states. Upon closing of the transaction, ICD will more than double the size of its pad-optimal rig fleet to 34, following modest upgrades to five Sidewinder rigs.  The combined company’s board of directors will consist of four existing ICD board members, including ICD’s Chairman of the Board, Thomas R. Bates, as well as two members appointed by the controlling owners of Sidewinder. The combined company’s management ...

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