FINWIRES · TerminalLIVE
FINWIRES

KLX Energy Services Buys Assets of Wolfpack Rentals for $17 Million

By

KLX Energy Services (KLXE) acquired the assets of surface rental solutions provider Wolfpack Rentals for $17 million, the company said late Tuesday.

The deal is expected to be immediately accretive across all KLX's financial metrics, the company said.

The purchase price includes $14 million paid at closing and two deferred payments of $1.5 million each due six months and 12 months after closing, subject to customary post-closing adjustments, the company added.

KLX said the deferred payments may be made in cash or shares of its common stock at the company's sole discretion.

Shares of KLX were up 2.3% in after-hours activity.

Related Articles

Equities

Market Chatter: Adnoc Reportedly Restarts Naphtha Exports to Asia via Omani Port

Abu Dhabi National Oil Co, or Adnoc, reportedly resumed naphtha exports to Asia through an alternative route via Oman's Sohar port, Reuters wrote Tuesday, citing unnamed traders.Exports resumed in May through ship-to-ship transfers, the sources said. Shipping data showed that some tankers were loaded with cargoes on May 30.The state-owned oil group did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^FADGI
Equities

Capital One Adjusts Price Target on Devon Energy to $61 From $63, Maintains Overweight Rating

Devon Energy (DVN) has an average rating of overweight and mean price target of $61.60, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$DVN
Equities

Market Chatter: BP Gives Amanda Blanc Second Chance to Lead Chair Search

BP (BP) has asked senior independent director Amanda Blanc to lead the search for the company's next chair despite concerns from some investors and City figures following the departure of former chairperson Albert Manifold, the Financial Times reported Monday.Blanc will oversee a "rigorous" selection process on behalf of the board, the report said, citing Interim Chair Ian Tyler.Some shareholders and market figures questioned whether Blanc should run a second chair search after Manifold left the role after about eight months, according to the report.BP did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$BP