NQL Energy Services Inc Company News

National Oilwell Varco, through its Dreco subsidiary, has completed its acquisition of NQL Energy Services Inc.

NQL Energy Services Inc. and National Oilwell Varco, Inc. said that an additional 748,273 Class "A" common shares of NQL have been validly tendered to the previously announced offer by NOV's indirect wholly-owned subsidiary, Dreco Acquisition Corp.

NQL Energy Services and National Oilwell Varco report that 38,161,432 Class "A" common shares of NQL representing approximately 85% of the issued and outstanding Shares have been validly tendered.

NQL Energy Services and National Oilwell Varco have entered into a pre-acquisition agreement pursuant to which a Canadian subsidiary of NOV has agreed to make an offer to acquire all of the issued and outstanding common shares of NQL for cash.