NexTier Oilfield Solutions ( NYSE: NEX ) -9.3% in Wednesday's trading after saying it acquired the sand hauling, wellsite storage and last mile logistics businesses from Continental Intermodal Group for ~$27M in cash and 500K common shares.
NexTier ( NEX ) said it now owns all rights and interests in the Sandstorm Wellsite Storage Technology and related intellectual property as a result of the deal.
The company also closed on a previously announced sale of its coiled tubing business, receiving ~$22M in an all-cash deal.
NexTier Oilfield ( NEX ) recently reported adjusted earnings of $0.39/share on revenues of $843M .
For further details see:
NexTier buys Continental Intermodeal last mile logistics unit in cash and stock deal