Schlumberger (NYSE: SLB) has entered an agreement to acquire the coiled tubing drilling and coiled tubing units from Xtreme Drilling and Coil Services Corp. (TSX: XDC), a Calgary-based provider of international land drilling and coiled tubing drilling services, according to a news release.

Xtreme currently owns a fleet of 11 coiled tubing units in Saudi Arabia and the United States. The transaction is subject to customary closing conditions and is expected to close in the third quarter, Schlumberger said in the release.

Schlumberger said its technology integration approach is evolving engineering of the drilling system from a simple combination of discrete services to optimized systems that are customized through extensive design and modeling capabilities for specific customer requirements.