June 4, 2009 (FinancialWire) — Union Drilling, Inc. (NASDAQ: UDRL) has launched a public offering of up to three million shares of its common stock. Jefferies & Co. will serve as the sole underwriter for this offering.

The underwriter also has the option to purchase up to an additional 15 percent of the offered amount of common stock from the company at the public offering price, within 30 days.

Union plans to use the net proceeds to repay indebtedness outstanding under the company’s revolving credit facility.

Fort Worth, Texas-based Union Drilling provides contract land drilling services and equipment, primarily to natural gas producers, in the United States. Union Drilling currently owns and markets 71 rigs and specializes in unconventional drilling techniques.

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