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Trinidad Drilling Ltd. and CanElson Drilling Inc. merger gives scale in ...
CALGARY - Trinidad Drilling Ltd. and CanElson Drilling Inc. announced Thursday a $505-million merger they say will give them much-needed scale in the oilfield services sector.
CanElson, Trinidad Drilling to merge in $505M deal
Trinidad Drilling acquires CanElson to set stage for oil-price recovery  The Globe and Mail
More pain in the oil patch: CanElson Drilling halves dividend, cuts capital ...
CALGARY - CanElson Drilling Inc. said Monday it will reduce its quarterly dividend by 50%, defer the completion of three new drilling rigs, and reduce its capital budget by 80% as a result of low crude oil and natural gas prices.
Oilfield services sector expects to cut 44% of spending plans  Calgary Herald
Trinidad Drilling Ltd. and CanElson Drilling Inc. Announce the Closing of ...
Trinidad Drilling Ltd. ("Trinidad") (TSX:TDG) and CanElson Drilling Inc. ("CanElson") (TSX:CDI) are pleased to announce that they have closed their previously announced strategic business combination (the "Transaction").
CanElson to combine with Trinidad
On June 11, Trinidad Drilling Ltd. and CanElson Drilling Inc. announced an combination worth $505 million. However, while the value of the deal is over half a billion dollars, just a small fraction of that will be paid in cash.
CanElson acquires Highkelly for $42 mln, boosts rig fleet
CanElson Drilling, Inc. (TSE:CDI), a provider of oilfield services, acquired Highkelly Drilling Ltd., a private Canadian drilling company, for $41.5 million, including debt.
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Trinidad Drilling Ltd. Announces Changes to Board Composition
Johnson, McDougald and Seaman joined Trinidad's board of directors following the acquisition of CanElson Drilling Inc. in August 2015.
Trinidad Drilling cuts dividend as losses mount despite more job cutting
In its first results since taking over rival CanElson Drilling Inc. in a cash and shares deal in August, Trinidad chopped its quarterly dividend to a penny per share from five cents, a move expected to save $36 million annually.
Rig contract termination fees boost Q2 revenue for Calgary's Trinidad Drilling
Trinidad has proposed the $505-million takeover of Calgary rival CanElson Drilling Inc., expected to close by Monday. On Friday, CanElson reported a second-quarter net loss of $1.7 million on revenue of $35 million compared with a profit of $5.5 ...
'We will not do a stupid deal': Little M&A relief for distressed oil services ...
On Tuesday, Trinidad Drilling Ltd. and CanElson Drilling Inc. finalized a $505 million deal they announced in June, but other companies are too worried about jeopardizing their own balance sheets to prey on weaker rivals.
2 Energy Stocks Under $5 You Could Speculate on Today
The company is also in the midst of combining its business with CanElson Drilling Inc., which will create one of the newest and largest fleets of oil and gas drilling rigs in North America with a combined 163 gross land drilling rigs.