Thu, Mar. 3, 5:08 PM
Jun. 11, 2015, 11:19 AM
- Trinidad Drilling (OTCPK:TDGCF) agrees to acquire CanElson Drilling (OTC:CDLRF) for cash and shares valued at ~C$505M, including the assumption of C$36M in CanElson debt, in a bid to save costs amid slumping oil prices.
- The combined company will operate one of the newest and largest fleets of oil and gas drilling rigs in North America with a combined total of 163 gross land drilling rigs, including eight international rigs under Trinidad’s joint venture.
- RBC analysts say they view the acquisition favorably, as it deleverages Trinidad’s balance sheet and raises its utilization in its core Canadian market.
Sep. 3, 2013, 4:56 PM
- Trinidad Drilling (TDGCF.PK) enters a joint venture deal with a unit of Halliburton (HAL) to provide and operate drilling rigs for HAL's international integrated projects.
- The JV is expected to concentrate initially on Saudi Arabia and Mexico, with a right of first look to provide drilling rigs for all of HAL's managed onshore projects outside of Canada and the U.S.
- Trinidad says it has committed C$72M to upgrade and build rigs.
Currently, there's no company description for TDGCF.
Sector: Basic Materials
Industry: Electric Utilities
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