PE-backed Saxon Energy Services planning an IPO – report

Calgary-based oil and gas drilling company Saxon Energy Services Inc is planning an initial public offering, The Wall Street Journal reported, citing people familiar with the matter. Saxon, which was listed on the Toronto Stock Exchange until it was taken private in 2008 by U.S. energy-focused private equity firm First Reserve Corp and Schlumberger Ltd, may this time list its shares in London, sources said. First Reserve and Schlumberger, a Houston, Texas-based oilfield services provider, paid $592 million to acquire the company. Founded in 1995, Saxon in September 2013 named Derek Normore as the company’s new president and CEO, replacing the retiring M.J. McNulty.

For further information about Saxon Energy Services Inc, please visit the company’s website.

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