Leading oil and gas industry equipment provider Sixty Six Oilfield Services, Inc. (OTC: SSOF) this morning announced its entry into a letter of intent to acquire Five Star Rig and Supply, Inc., an Oklahoma-based drilling rig and supply parts company. “This acquisition of Five Star is an exciting development for Sixty Six,” Dave T. Ho, CEO of SSOF, stated in the news release. “This transaction allows us to continue our focused growth within the drilling sector and will also enhance the bottom line for the overall benefit of the stockholders.” Per this morning’s update, SSOF intends to raise up to $20 million in debt and expansion capital in order to facilitate its acquisition of Five Star. The company notes that the majority of this funding will be used to finance the future purchase and resale of several drilling rigs.
To view the full press release, visit http://ibn.fm/cVnCC
About Sixty Six Oilfield Services, Inc.
Sixty Six Oilfield Services, Inc. is located on Lexington Ave in Manhattan, NY and is a Nevada registered holding company. The Company is actively pursuing a strategy of acquiring a diverse range of energy, strategic marketing and technology businesses for its portfolio. The Company is continuing to build its oilfield services business and will maintain its offices in Oklahoma City. For more information, visit the company’s website at www.SixtySixOilfield.com
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