2014-01-08 06:18:28 - Boyd Clark Resource Capital Solutions will be the majority shareholder in the joint venture
Boyd Clark Resource Capital Solutions is pleased to announce that it has entered negotiations into a joint venture arrangement with a wholly-owned subsidiary of Halliburton Company (Halliburton) to provide and operate drilling rigs for Halliburton's international integrated projects.
The joint venture is expected to concentrate initially on the Southeast Asian projects with great future growth opportunities in other international markets. Under this arrangement, the joint venture will have a right of first look to provide drilling rigs for all of the projects managed onshore in the regions that are selected in Southeast Asia. Additionally, the joint venture will also have the right of first look at the sites onshore contract drilling opportunities.
with 60% ownership, and Halliburton will have
40% ownership, with each party contributing future capital in these respective proportions. The joint venture is in negotiations on what name the project will be conducted under.
"We see this agreement as a significant milestone for Boyd Clark Resource Capital Solutions" said Jerry Boyd. "By aligning ourselves with a major oilfield services company, we are able to open the doors to a new level of international growth. Boyd Clark Resource Capital Solutions will benefit from Halliburton's international operating experience and infrastructure and will gain access to the integrated project management market. In return, we can provide high-performance drilling services and strong operating performance that will enhance their ability to win future integrated projects."