July 13 (Reuters) - Strad Energy Services Ltd SDY.TO
* Strad Energy Services Ltd. Announces strategic acquisition in Canada's most active oil and gas region
* Strad will acquire all of shares of Redneck in exchange for an aggregate of 11,098,598 class a common shares of strad
* Total transaction value of approximately $30.6 million
* Deal includes assumption of an estimated $11.7 million of net debt
* Employees of Redneck will also be joining strad team upon closing of transaction
* Strad shares to be issued to Redneck shareholders pursuant to transaction will be subject to a time release escrow agreement
* Strad energy services ltd says deal provides immediate accretion on a cash flow per share basis
* Upon completion of transaction lyle wood, founder and president of redneck, will be appointed to board of directors of strad
* Strad board has unanimously approved transaction
* Entered into definitive share purchase agreements with each of redneck oilfield services ltd. And raptor oilfield services ltd Source text for Eikon: ID:nCCN2nMq06 Further company coverage: SDY.TO