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Trinidad Drilling Ltd (TDG.TO)

TDG.TO on Toronto Stock Exchange

1.67CAD
11 Dec 2018
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Latest Key Developments (Source: Significant Developments)

Ensign Energy Services-Confirms Ownership Of About 66.73 Pct Of Trinidad Shares
Thursday, 29 Nov 2018 

Nov 29 (Reuters) - Ensign Energy Services Inc ::ENSIGN ENERGY SERVICES - CONFIRMS OWNERSHIP OF ABOUT 66.73% OF TRINIDAD SHARES.  Full Article

Ensign, Trinidad Agree To Replace Trinidad Board
Thursday, 29 Nov 2018 

Nov 28 (Reuters) - Ensign Energy Services Inc ::ENSIGN AND TRINIDAD AGREE TO REPLACE TRINIDAD BOARD; ENSIGN CONTROLS APPROXIMATELY 66.73% OF TRINIDAD.ENSIGN ENERGY-BOUGHT ADDITIONAL AGGREGATE OF 1.5 MILLION SHARES OF TRINIDAD, SUCH THAT ENSIGN OWNS OR CONTROLS ABOUT 66.73%, OF OUTSTANDING TRINIDAD SHARES.ENSIGN ENERGY - ADDITIONAL TRINIDAD SHARES WERE ACQUIRED IN ORDINARY COURSE MARKET PURCHASES BY ENSIGN'S WHOLLY-OWNED SUBSIDIARY ENSIGN HOLDINGS INC.ENSIGN - SURPASSING 66 2/3% MARK ENSURES THAT CO WILL BE ABLE TO COMPLETE SUBSEQUENT ACQUISITION TRANSACTION TO ACQUIRE REMAINING TRINIDAD SHARES.ENSIGN - WITH CONTROLLING INTEREST OF GREATER THAN 66 2/3 OF TRINIDAD SHARES, ENSIGN WILL SUCCEED IN ACQUIRING ALL OF TRINIDAD SHARES AT $1.68/SHARE.  Full Article

Trinidad Announces Termination Of Precision Arrangement Agreement, Voluntary Resignation Of Trinidad Directors, Senior Officers, Replacement With Ensign Appointees
Wednesday, 28 Nov 2018 

Nov 28 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD ANNOUNCES TERMINATION OF THE PRECISION ARRANGEMENT AGREEMENT, VOLUNTARY RESIGNATION OF TRINIDAD DIRECTORS AND SENIOR OFFICERS AND REPLACEMENT WITH ENSIGN APPOINTEES.TRINIDAD DRILLING LTD - VOLUNTARY RESIGNATION OF TRINIDAD DIRECTORS AND SENIOR OFFICERS AND REPLACEMENT WITH ENSIGN APPOINTEES.TRINIDAD DRILLING - CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER OF TRINIDAD HAVE EACH RESIGNED AS OFFICERS OF TRINIDAD.TRINIDAD DRILLING LTD - ENSIGN CONFIRMED TO CO THAT ITS UNIT TAKEN UP ABOUT 56.38% SHARES OF TRINIDAD TENDERED TO ITS OFFER FOR TRINIDAD.TRINIDAD DRILLING LTD - ALL OTHER TRINIDAD EMPLOYEES CONTINUE THEIR EMPLOYMENT UNAFFECTED BY DEAL.TRINIDAD DRILLING LTD-ROBERT GEDDES HAS BEEN APPOINTED AS PRESIDENT, COO OF TRINIDAD WITH MICHAEL GRAY APPOINTED AS CFO OF TRINIDAD.TRINIDAD DRILLING LTD - CO'S SPECIAL MEETING OF TRINIDAD SECURITYHOLDERS TO BE HELD ON DEC. 11, CANCELLED.  Full Article

Trinidad Drilling Announces Intention To Waive Application Of Its Shareholder Rights Plan And Confirms Support For Precision Transaction
Thursday, 22 Nov 2018 

Nov 22 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING ANNOUNCES INTENTION TO WAIVE APPLICATION OF ITS SHAREHOLDER RIGHTS PLAN AND CONFIRMS SUPPORT FOR PRECISION TRANSACTION.TRINIDAD DRILLING LTD - BOARD CONTINUES TO RECOMMEND THAT SHAREHOLDERS REJECT ENSIGN OFFER.  Full Article

Trinidad Drilling Qtrly Loss Per Share $1.77
Saturday, 10 Nov 2018 

Nov 9 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING REPORTS THIRD QUARTER AND YEAR-TO-DATE 2018 RESULTS; STRONG ADJUSTED EBITDA GROWTH DRIVEN BY HIGHER ACTIVITY AND DAYRATES.QTRLY FFO PER SHARE $0.13.QTRLY LOSS PER SHARE $1.77.QTRLY REVENUE $174.8 MILLION VERSUS $129.8 MILLION.Q3 REVENUE VIEW C$159.1 MILLION -- THOMSON REUTERS I/B/E/S.Q3 EARNINGS PER SHARE VIEW C$-0.08, REVENUE VIEW C$159.1 MILLION -- THOMSON REUTERS I/B/E/S.IMPAIRMENT OF $565.6 MILLION WAS RECORDED IN CURRENT QUARTER, NEGATIVELY IMPACTING NET LOSS.  Full Article

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

RPT-Canadian oil producers trade shares for growth but investors hard to impress

WINNIPEG/TORONTO, Nov 29 Depressed Canadian oil prices are forcing energy companies to use their shares as a currency to fund acquisitions, but investors have been hard to win over to the strategy.