Parex Resources Acquired Class A Common Shares of Nabors Industries

Parex Resources Inc. (TSX:PXT) has acquired class A common shares of Nabors Industries Ltd.

As quoted in the press release:

Parex, through a wholly owned subsidiary, has entered into a purchase and sale agreement with a Bermuda based subsidiary (the “Seller”) of Nabors Industries Ltd., to acquire its wholly owned subsidiary (“Targetco”) (the “Acquisition”), the operations of which include interests in five exploration blocks located in Llanos Basin and two blocks located in Middle Magdalena Basin in Colombia for a total of approximately 567,000 gross acres (276,000 net acres).

Click here to read the Parex Resources Inc. (TSX:PXT) press release.