This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Bronco Energy to sell rigs, equipment to CanElson 2009-11-05 14:12 ET - News Release Mr. Peter Pelensky reports BRONCO SIGNS LETTER OF INTENT TO SELL DRILLING RIGS Bronco Drilling Services Ltd., a wholly owned subsidiary of Bronco Energy Ltd., has signed a letter of intent with CanElson Drilling Inc., for the sale of a telescopic double rig, a single rig, and related contracts and equipment, for cash proceeds of $6.5-million. "This sale is very positive to Bronco as the drilling business has been considered non-core to the company for quite some time. As well, the proceeds will strengthen an already solid balance sheet," commented Peter Pelensky, Bronco's president and chief executive officer. The remainder is available to Stockwatch subscribers.
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