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Saxon buys seven drilling rigs

CALGARY, Alberta, June 27 (UPI) -- Canada's Saxon Energy Services Inc. is paying $55 million for Kinnell Drilling Ltd. and Kinnell Resource Consultants Ltd.

Closing of the all-cash deal, which includes seven drilling rigs, is set for July 1, Saxon said Tuesday.

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The company said it expanded its credit facility to pay for the drilling rigs.

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