Total Energy Services Inc. to Receive Contract Termination Payment
CALGARY, Alberta, Oct. 17, 2019 (GLOBE NEWSWIRE) — Total Energy Services Inc. (TSX:TOT) (“Total Energy”) announces that its wholly-owned subsidiary, Savanna Drilling, LLC (“Savanna”), has reached an agreement in regards to the early termination of contracts for three Savanna drilling rigs operating in the United States. Savanna will be paid a total of US$13.5 million for such early terminations which occurred in October 2017.
Headquartered in Calgary, Alberta, Total Energy provides contract drilling services, rentals and transportation services, well servicing and compression and process equipment and service to oil and natural gas producers operating in North America, Australia and other international markets. The common shares of Total Energy are listed and trade on the TSX under the symbol TOT.For further information, please contact Daniel Halyk, Chief Executive Officer at (403) 216-3921 or by e-mail at: firstname.lastname@example.org or visit our website at www.totalenergy.ca.The TSX has neither approved nor disapproved of the information contained herein.