Weatherford closes deal to sell drilling rigs in North AfricaStruggling oilfield service company Weatherford International has closed on the third of four deals to sell its drilling rigs in the Middle East and North Africa. Weatherford closed a $60 million deal on Wednesday afternoon to sell four of the company's drilling rigs in the North African nation of Algeria. ADES agreed to buy PDSSA in a $287.5 million deal that was announced July. Structured into a series of four closings, the first deal closed in November and the second one closed in December. In this round, PDSSA sold the rigs, 350 employees and customer contracts to ADES.

Source: The North Africa Journal February 28, 2019 12:00 UTC