Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, February 9, 2015

C&J Energy cuts purchase price for Nabors unit by $250 mln, (NYSE: CJES)

Oilfield services provider C&J Energy Services Inc, which is buying Nabors Industries Ltd's production services unit, said the two companies had agreed to reduce the cash portion of the deal by $250 million to $688 million. Including stock, the deal was valued at $2.86 billion when it was announced in June.

C&J Energy Services, Inc. is a provider of hydraulic fracturing, coiled tubing, wireline and other complementary services with a focus on well completions. Shares of CJES fell by 1.61% or $-0.2/share to $12.25. In the past year, the shares have traded as low as $9.11 and as high as $34.93. On average, 1714660 shares of CJES exchange hands on a given day and today's volume is recorded at 2247243.