SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
Securities Exchange Act of 1934
----------------------------
Date of Report: April 16, 1996
BJ SERVICES COMPANY
(Exact name of Registrant as specified in its charter)
Delaware 1-10570 63-0084140
(State or other (Commission (I.R.S. Employer
jurisdiction File No.) Identification No.)
of incorporation)
5500 Northwest Central Drive
Houston, Texas 77092
(Address of principal executive offices) (Zip Code)
(713) 462-4239
(Registrant's telephone number, including area code)
<PAGE> 2
Item 5. Other Events
On April 12, 1996, the Company announced a tender offer ("Nowsco
Tender Offer") to acquire all of the outstanding common shares of Nowsco
Well Service Ltd. ("Nowsco"), a well service company based in Calgary,
Canada, for a price per share of $27.00 in Canadian dollars. At
December 31, 1995, Nowsco had 20,806,546 outstanding common shares. For the
fiscal year ended December 31, 1995, Nowsco reported revenues of $480.1
million, net income of $16.2 million ($.78 per share) and total
shareholders' equity of $286.5 million, all in Canadian dollars. Nowsco's
operations are conducted in Canada, the United States, Europe, Africa, the
Middle East, Southeast Asia, Argentina, Australia and Russia and include
oil and gas pressure pumping, coiled tubing, commissioning and pipeline
service businesses. The Nowsco Tender Offer is subject to certain
conditions, including waiver or invalidation of Nowsco's poison pill plan,
the tender of at least 662/3% of Nowsco's outstanding common shares, the
absence of certain transactions and changes affecting Nowsco and the
receipt of regulatory approvals. No assurance can be given that the Company
will be successful in the Nowsco Tender Offer or in its efforts to
consummate a transaction with Nowsco or, if it is successful, on what
terms.
<PAGE> 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
BJ SERVICES COMPANY
By: Margaret B. Shannon
Margaret B. Shannon
Vice President and General Counsel
Date: April 16, 1996
