C&J Energy Services Buys Casedhole Holdings for $272.5M

C&J Energy Services, an oil field services company providing hydraulic fracturing, coiled tubing and pressure pumping services to drillers, announced yesterday they have bought out another oil field services company—Casedhole Holdings—for $272.5 million in cash. Casedhole provides cased-hole wireline services including logging, perforating and pipe recovery.

C&J gets two things from the deal: A complimentary new set of services it can offer to its existing customers, and expansion into new territories where it currently does not operate, including the Marcellus and Utica Shale region.

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