Edition:
United States

Trican Well Service Ltd (TCW.TO)

TCW.TO on Toronto Stock Exchange

3.63CAD
24 Mar 2017
Change (% chg)

$-0.03 (-0.82%)
Prev Close
$3.66
Open
$3.69
Day's High
$3.74
Day's Low
$3.57
Volume
2,924,441
Avg. Vol
1,653,194
52-wk High
$5.59
52-wk Low
$1.06

Latest Key Developments (Source: Significant Developments)

Trican and Canyon to combine to create premier Canadian pressure pumping company
Wednesday, 22 Mar 2017 07:00am EDT 

Trican Well Service Ltd : Trican Well Service Ltd - Trican and Canyon to combine to create premier Canadian pressure pumping company . Trican Well Service - aggregate transaction value is approximately $637 million, including the assumption of approximately $40 million in Canyon debt . Trican Well Service Ltd - consideration to be received by Canyon shareholders reflects a value of $6.63 per Canyon share . Expect transaction to be significantly accretive to cash flow as integration is completed in 2018 . Trican Well Service - expects to achieve approximately $20 million in annual pre-tax synergies upon the expected completion of the integration in 2018 . Trican Well Service - on transaction completion , existing holders of Trican & Canyon shares to own about 56% and 44% of combined co, respectively .Trican Well Service- co to acquire all of issued & outstanding common shares of canyon on basis of 1.70 common shares of co for each outstanding Canyon share.  Full Article

Trican well Q4 basic and diluted $0.29
Thursday, 23 Feb 2017 12:55am EST 

Trican Well Service Ltd : Trican well service ltd. Reports fourth quarter and year end results for 2016 . Q4 revenue rose 47 percent .Qtrly income per share - basic and diluted $0.29.  Full Article

Trican Well Service qtrly loss per share $0.26
Thursday, 11 Aug 2016 10:06pm EDT 

Trican Well Service Ltd < : Trican Well Service Ltd reports second quarter results for 2016 . Qtrly revenue $32.5 million . Fy2016 earnings per share view C$-0.54, revenue view C$410.3 million -- Thomson Reuters I/B/E/S . Qtrly loss per share $0.26 . Revenue was down significantly in quarter due to reduced drilling and completion activity caused by low commodity prices .Expect to continue to minimize capital spending during 2016.  Full Article

Trican Well Service raises size of public offering to 37.5 mln shares
Thursday, 2 Jun 2016 08:09am EDT 

Trican Well Service Ltd : Trican Well Service increases bought deal to $60 million . To increase size of offering to 37.5 million common shares of Trican at a price of $1.60 per common share .Common shares are being offered on a "bought deal" basis to a syndicate of underwriters led by RBC Capital Markets and Scotiabank.  Full Article

Trican Well Service announces $40 mln bought deal financing
Wednesday, 1 Jun 2016 03:15pm EDT 

Trican Well Service Ltd : Announces $40 million bought deal financing and amended covenant package with its lenders . Underwriters have agreed to purchase on a "bought deal" basis 25 million common shares of trican at a price of $1.60 per common share . Net proceeds from offering will be used to reduce outstanding debt . Under agreed upon amendments, Trican would also agree to reduce its RCF commitment to $250 million .Granted underwriters an option to purchase an additional 3.75 million common shares at issue price to cover over-allotments.  Full Article

Trican Well Service reaches agreement for sale of its Completion tools business for C$53.5 mln
Wednesday, 1 Jun 2016 03:14pm EDT 

Trican Well Service Ltd: Trican Well Service reaches agreement for sale of its completion tools business for CAD$53.5 million . Total consideration payable to Trican consist of cash consideration of C$30 million and share consideration totaling C$23.5 million . Entered agreement with units of National Oilwell Varco for sale of Trican's completion tools business .Intends to use net cash proceeds from transaction to reduce its outstanding debt.  Full Article

Trican Well Service Ltd in negotiations for sale of United States Pressure Pumping Business
Tuesday, 12 Jan 2016 05:22pm EST 

Trican Well Service Ltd:Announces that it is in negotiations with Keane Group for the sale of Trican's United States pressure pumping business.Based upon the terms and conditions currently being discussed, management believes the offered price represents fair value for the business and that the sale of this business would be in the best interest of shareholders if acceptable terms and conditions can be negotiated.  Full Article

Trican Well Service Ltd Well Service reaches agreement for sale of Russian Pressure Pumping Business
Friday, 14 Aug 2015 09:14am EDT 

Trican Well Service Ltd:Press release - Trican Well Service reaches agreement for sale of its Russian pressure pumping business for cdn $181.6 m.Says agreed purchase price for the disposition is US $140 million.Says intends to apply the net proceeds from this transaction to reduce its outstanding debt.Entered into definitive agreement with rn assets llc for sale of trican's Russian pressure pumping business to purchaser.Will provide certain transitional services following closing of the transaction.Trican and rosneft are also continuing to negotiate for the sale of trican's Kazakhstan pressure pumping business.Says has recently terminated its operations in Australia and suspended its operations in Colombia and Saudi Arabia.Following closing of Russia and, if agreement is reached, Kazakhstan, transactions, Trican will continue to operate in Canada, u.s.,norway.Trican will continue to offer its completion solutions products and services in Russia following the closing of the transaction.  Full Article

Trican Well Service Ltd announces suspension of dividend
Tuesday, 12 May 2015 08:13pm EDT 

Trican Well Service Ltd:Says that given weak economic outlook and need to preserve liquidity, Trican's board has suspended the dividend to shareholders, effective immediately.Says that board will continue to re-evaluate dividend policy on a quarterly basis.  Full Article

More From Around the Web

Canada's Trican to buy Canyon Services as shale drilling ramps up

Canadian oilfield services provider Trican Well Service Ltd said on Wednesday it would buy smaller rival Canyon Services Group Inc in a C$637 million deal, as it seeks to strengthen pricing power amid a revival in shale drilling in North America.