BRIEF-Xtreme announces segment sale for C$205 million to Schlumberger
April 27 (Reuters) - Xtreme Drilling And Coil Services Corp
* Xtreme announces sale of XSR coiled tubing services segment to Schlumberger for c$205 million and repositions xtreme as a pure tier 1 contract driller
* Management and board of Xtreme will be reviewing all available strategic alternatives available to xtreme
* "anticipate oilfield service activity levels to remain relatively low in 2016 with potential for increased activity in 2017"
* Possible strategic alternatives may include potential acquisitions, merger, combination, international growth program
* Strategic alternatives may include sale of co or assets, return of capital via a dividend, a substantial issuer bid
* Co, Schlumberger shall, at closing, enter into "shared intellectual property agreement" allowing licensing of patents, technologies
* Xtreme will retain certain rights to developed hard rock mining intellectual property Source text for Eikon: Further company coverage:
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