Published 18 January 2012
Oilfield services company Forbes Energy Services has completed the sale of substantially all of its assets located in Mexico, as well as its equity interests in Forbes Energy Services Mexico Servicios de Personal, S. de R.L. de C.V.
The assets were sold for an aggregate cash consideration of about $30m, excluding amounts paid to cover certain Mexican taxes.
The company said it plans to reinvest the proceeds from this sale by purchasing equipment for use in the US.
Forbes Energy Services provides a broad range of drilling-related and production-related services to oil and natural gas firms.
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