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Trinidad Drilling Ltd (TDG.TO)

TDG.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Precision Drilling Says Deal Will Add To 2019 Cash Flow Per Share - Conf Call
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Precision Drilling Corp ::SAYS CAPITAL EXPENDITURES WILL REMAIN COMPARATIVELY LOW IN COMING YEARS - EXEC ON CONF CALL.CEO SAYS DEAL WILL BE SIGNIFICANTLY ACCRETIVE TO 2019 CASH FLOW PER SHARE - CONF CALL.  Full Article

Precision Drilling To Buy Trinidad Drilling For C$1.03 Bln
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Precision Drilling Corp ::TRINIDAD DRILLING ANNOUNCES STRATEGIC MERGER WITH PRECISION DRILLING TO CREATE INDUSTRY-LEADING CONTRACT DRILLER.TRINIDAD DRILLING LTD - TOTAL CONSIDERATION FOR TRINIDAD IS APPROXIMATELY $1,028 MILLION.TRINIDAD DRILLING LTD - RESPECTIVE BOARDS OF DIRECTORS FOR TRINIDAD AND PRECISION DRILLING CORPORATION ("PRECISION") HAVE UNANIMOUSLY AGREED TO DEAL.TRINIDAD DRILLING - UNDER TERMS OF COMBINATION, PRECISION IS OFFERING 0.445 OF PRECISION SHARE FOR EACH OF ISSUED & OUTSTANDING COMMON SHARES OF CO.TRINIDAD DRILLING LTD - COMBINED ENTITY WILL HAVE AN ENTERPRISE VALUE OF APPROXIMATELY $4.0 BILLION AND OPERATE UNDER PRECISION NAME.TRINIDAD DRILLING LTD - TRANSACTION IS EXPECTED TO GENERATE SUBSTANTIAL SYNERGIES, DRIVING COST SAVINGS ACROSS COMBINED ENTITY.TRINIDAD DRILLING - UPON COMPLETION OF TRANSACTION, TRINIDAD SHAREHOLDERS WILL OWN ABOUT 29% OF COMBINED ENTITY.TRINIDAD DRILLING - HAS AGREED THAT IT WILL NOT SOLICIT OR INITIATE DISCUSSIONS REGARDING ANY OTHER BUSINESS COMBINATION OR SALE OF MATERIAL ASSETS.TRINIDAD DRILLING LTD - ONE OF TRINIDAD'S CURRENT DIRECTORS WILL BE APPOINTED TO PRECISION BOARD.TRINIDAD DRILLING LTD - ONE OF TRINIDAD'S CURRENT DIRECTORS WILL BE NOMINATED FOR ELECTION TO PRECISION BOARD AS PRECISION SHAREHOLDER MEETING.TRINIDAD DRILLING LTD - COMBINED ENTITY WILL HAVE AN ENTERPRISE VALUE OF APPROXIMATELY $4.0 BILLION AND OPERATE UNDER PRECISION NAME.  Full Article

Trinidad Board Of Directors To Review Unsolicited Offer From Ensign
Friday, 31 Aug 2018 

Aug 30 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD BOARD OF DIRECTORS TO REVIEW UNSOLICITED OFFER FROM ENSIGN; SHAREHOLDERS ADVISED TO TAKE NO IMMEDIATE ACTION.TRINIDAD DRILLING - CONFIRMS THAT ENSIGN ENERGY SERVICES COMMENCED AN UNSOLICITED TAKE-OVER BID FOR ALL ISSUED, OUTSTANDING COMMON SHARES OF TRINIDAD.  Full Article

Trinidad Drilling Says Continues To Review Certain Non-Core Asset Sale Opportunities, Co To Conclude Formal Strategic Review Process
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING LTD. CONCLUDES STRATEGIC REVIEW WITH CLEARLY DEFINED FUTURE PLAN; ANNOUNCES NEW DIRECTOR.TRINIDAD DRILLING LTD - CONTINUES TO REVIEW CERTAIN NON-CORE ASSET SALE OPPORTUNITIES, BUT HAS DECIDED TO CONCLUDE FORMAL STRATEGIC REVIEW PROCESS.TRINIDAD DRILLING LTD - BOARD DETERMINED TO PURSUE TRINIDAD'S REVISED FIVE-YEAR STRATEGIC PLAN.TRINIDAD DRILLING - CO WILL CONTINUE TO EVALUATE FURTHER OPPORTUNITIES TO LEVERAGE ITS CURRENT ASSET BASE THROUGH STRATEGIC MERGERS OR ACQUISITIONS.TRINIDAD DRILLING LTD - APPOINTS JOHN BLOCKER TO ITS BOARD, EXPANDING BOARD TO SIX INDEPENDENT DIRECTORS.TRINIDAD DRILLING LTD - BOARD IS ACTIVELY CONSIDERING ADDITIONAL DIRECTORS.  Full Article

Trinidad Drilling Provides Update On Operations And Advancement Of Its Technology Platform
Thursday, 12 Jul 2018 

July 12 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING PROVIDES AN UPDATE ON ITS OPERATIONS AND THE ADVANCEMENT OF ITS TECHNOLOGY PLATFORM.TRINIDAD DRILLING LTD - ANNOUNCED ACQUISITION OF GMXSTEERING.TRINIDAD DRILLING LTD - AGREED TO PURCHASE GMXSTEERING FOR US$2 MILLION.TRINIDAD DRILLING - EXPECTS TO PUT ADDITIONAL RIGS BACK TO WORK, BRINGING ITS TOTAL US ACTIVE RIG COUNT TO ABOUT 45 RIGS BY END OF YEAR.TRINIDAD DRILLING LTD - EXPECTS TO FUND ITS CAPITAL PROGRAM THROUGH CASH FLOW GENERATED FROM OPERATIONS AND PROCEEDS FROM SALE OF ASSETS.  Full Article

Trinidad Drilling Announces Changes To Its Board Of Directors
Tuesday, 3 Jul 2018 

July 3 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS.SAYS KEN STICKLAND APPOINTED CHAIRMAN OF THE BOARD.MICHAEL HEIER, TRINIDAD'S CHAIRMAN AND FOUNDER, HAS RESIGNED.  Full Article

Trinidad Drilling Expands International Operations Awarded Contract For Two Rigs In Kuwait
Thursday, 28 Jun 2018 

June 28 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING EXPANDS INTERNATIONAL OPERATIONS; AWARDED CONTRACT FOR TWO RIGS IN KUWAIT.AWARD IN KUWAIT FOR TWO TRINIDAD DRILLING INTERNATIONAL (TDI) JOINT VENTURE RIGS ON A FIVE-YEAR CONTRACT.TRINIDAD EXPECTS THAT JOINT VENTURE RIGS WILL BEGIN OPERATING BY LATE IN Q1 OR EARLY IN Q2 OF 2019.TRINIDAD DRILLING -EXPECTS TO FUND ADDITIONAL UPGRADE CAPITAL FROM CASH IN TDI JOINT VENTURE.RIGS WILL UNDERGO CAPITAL UPGRADES OF APPROXIMATELY US$22 MILLION PER RIG.  Full Article

Trinidad Drilling Qtrly Net Loss Per Share $0.08
Tuesday, 8 May 2018 

May 7 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING REPORTS FIRST QUARTER 2018 RESULTS; CONTINUED FOCUS ON SHAREHOLDER VALUE AND IMPROVING OPERATIONAL RESULTS.QTRLY REVENUE $153.2 MILLION VERSUS $132.7 MILLION.QTRLY NET LOSS PER SHARE $0.08.Q1 EARNINGS PER SHARE VIEW C$-0.07, REVENUE VIEW C$150.0 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Trinidad Drilling Sells Its Three Remaining Saudi Arabian Rigs
Thursday, 12 Apr 2018 

April 12 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING LTD. SHOWS PROGRESS ON STRATEGIC REVIEW WITH SALE OF SAUDI ARABIAN RIGS.RIGS AND RELATED EQUIPMENT WILL BE SOLD FOR ABOUT $30 MILLION EACH, OR $91 MILLION IN TOTAL GROSS PROCEEDS.AGREED TO SELL ITS 3 REMAINING RIGS LOCATED IN SAUDI ARABIA OWNED BY ITS INTERNATIONAL JV, TRINIDAD DRILLING INTERNATIONAL.EXPECTS TO SPEND A TOTAL OF $57.5 MILLION IN GROWTH CAPITAL IN 2018.TRINIDAD'S SHARE OF PROCEEDS TOTALS APPROXIMATELY US$55 MILLION.FOLLOWING CLOSE OF SALE, TDI EXPECTS TO DISTRIBUTE NET PROCEEDS FROM ASSET SALE TO ITS PARTNERS.  Full Article

Trinidad Drilling Ltd Lowers G&A Guidance By Nearly 20 pct
Tuesday, 9 Jan 2018 

Jan 8 (Reuters) - Trinidad Drilling Ltd ::‍CO IS LOWERING ITS GUIDANCE FOR 2018 GENERAL AND ADMINISTRATIVE (G&A) EXPENSES TO $43 MILLION​.. OUTLINES RECENT RIGMINDER PROGRESS, LOWERS G&A GUIDANCE BY NEARLY 20%.TRINIDAD DRILLING -‍NEW 2018 GUIDANCE REPRESENTS A REDUCTION OF ABOUT 20% FROM PRIOR 2018 GUIDANCE AND 25% REDUCTION FROM EXPECTED 2017 G&A EXPENSES​.  Full Article

Deals of the day-Mergers and acquisitions

Oct 5 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday: