C&J in $2.86bn fracking tie-up

Fracking equipment suppliers C&J Energy Services yesterday announced a merger with Nabors’ oilfield completion and production services business in a $2.86bn (£1.68bn) deal.

The deal will give the combined company a greater foothold in the hydraulic fracturing services industry.

Josh Comstock, C&J founder and chief executive, said: “Among many key strategic benefits of this… is accelerated growth and scale, enabling the rapid advancement of our stated goal of transforming C&J from what I started as a small company to a diversified, large-scale, global provider of technologically advanced services.”