Fulbright Helps Pioneer Nab Coil Tubing Co. For $110M

Law360, New York (January 3, 2012, 6:42 PM EST) -- Texas' Pioneer Drilling Co. has inked a deal to acquire tubing service provider Go Coil LLC for $110 million, the drilling service provider announced Tuesday.

The cash deal gives the San Antonio-based Pioneer control of Go Coil's 10 coiled tubing units, which oil and gas companies will use to perform various pumping tasks. The acquisition is expected to generate $26 to $29 million in additional earnings for Pioneer's production services division in 2012, said Pioneer CEO Wm. Stacy Locke.

“We believe this new service offering has...
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