Key Developments: Trican Well Service Ltd (TOLWF.PK)
14.08USD
17 May 2013
$0.29 (+2.11%)
$13.79
$13.60
$14.08
$13.60
1,996
8,091
$15.21
$10.25
Latest Key Developments (Source: Significant Developments)
Trican Well Service Ltd And GeoTomo Form Partnership To Offer Integrated Microseismic Services
Trican Well Service Ltd and GeoTomo LLC announced that they have formed Trican GeoTomo Microseismic Ltd. (TGML). TGML provides microseismic services to oil and gas producers by integrating Trican's experience in hydraulic fracturing engineering and GeoTomo's geophysical software capabilities. TGML takes fracture mapping to a level that the Company believe is currently unavailable in the marketplace, offering the acquisition, processing, visualization and interpretation of microseismic data during hydraulic fracturing operations. Full Article
Trican Well Service Ltd Announces Normal Course Issuer Bid
Trican Well Service Ltd announced that the Toronto Stock Exchange (the TSX) has accepted its application to renew the normal course issuer bid (the Bid) to purchase, from March 8, 2013 to March 7, 2014, certain of its outstanding common shares (the "Common Shares"). All purchases will be made through the facilities of the TSX. The Bid has been put in place because the Company believes that the Common Shares are a good investment for the Company in the context of equity market conditions, and to offset the dilutive effects of the exercise from time to time of stock options granted by Trican under its stock option plan. All Common Shares purchased through the Bid will be returned to treasury for cancellation. As at February 28, 2013, there were 148,831,558 Common Shares issued and outstanding. The number of Common Shares which may be purchased during the period of the Bid will not exceed 10,973,363 Common Shares, which is approximately 10% of the public float for the Common Shares. Except as permitted under the TSX rules, the Company will not purchase on any given trading day under the Bid more than 184,512 Common Shares, being approximately 25% of the average daily trading volume of the Common Shares on the TSX for the previous six calendar months of 738,051 Common Shares. During the past 12 months, Trican acquired 755,400 Common Shares at a volume weighted average price of $13.26 under its previous normal course issuer bid, which expired on March 1, 2013. Full Article
Trican Well Service Ltd Closes Acquisition of i-TEC Well Solutions
Trican Well Service Ltd announced that it has closed the previously announced acquisition of i-TEC Well Solutions (i-TEC), a privately owned company based in Norway that has developed a portfolio of completion systems and intervention tools. Full Article
Trican Well Service Ltd Agrees To Acquire i-Tec Well Solutions
Trican Well Service Ltd announced that is has entered into an agreement to acquire i-Tec Well Solutions AS (i-Tec). i-Tec is a privately-owned company based in Norway that has developed a portfolio of field completion & intervention tool solutions. i-Tec operates in Norway, the United States and supports Trican's Completion Tool division in Canada. Under the terms of the agreement, Trican will acquire all of the shares and discharge existing debt of Petro Tools Holding AS (the holding company for i-Tec and its subsidiaries) in exchange for initial cash consideration of $30 million and 2.4 million Trican common shares. Cash consideration will be funded from existing bank facilities. In addition, Trican has agreed to pay deferred consideration of up to $47.1 million subject to agreed upon financial targets for i-Tec for the year ended December 31, 2013. The Company expect this acquisition to be accretive in 2013 based on execution of the 2013 business plan. The transaction is expected to close before January 31, 2013. Full Article
Trican Well Service Ltd Announces Dividend
Trican Well Service Ltd announced that Board of Directors has declared a CAD0.15 dividend per share in accordance with the semi-annual dividend policy for holders of Trican Common Shares. The date of record will be December 31, 2012 and the date of payment will be January 14, 2013. The ex-dividend date will be December 27, 2012. Full Article
Trican Well Service Ltd. Issues Q2 2012 Earnings Guidance Below Analysts' Estimates
Trican Well Service Ltd. announced that it anticipates that consolidated financial results for the second quarter will fall below its expectations based on management's preliminary review of its second quarter operating results. For the second quarter of 2012, the Company estimates diluted loss per share (EPS) in the range of $(0.32) to $(0.42) and consolidated operating income/(loss) (EBIT) in the range of $(24) million to $(34) million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $(0.04) and EBIT of $4 million for the second quarter of 2012. Full Article
Trican Well Service Ltd. Issues FY 2012 Revenue Guidance Below Analysts' Estimates-Conference Call
Trican Well Service Ltd. announced that for fiscal 2012, it expects revenue to increase by approximately 10% compared to fiscal 2011. The Company reported revenue of $2.309 billion in fiscal 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.715 billion for fiscal 2012. Full Article
Trican Well Service Ltd. Announces Dividend
Trican Well Service Ltd. announced that its Board of Directors has declared a CAD0.15 dividend per share in accordance with the semi-annual dividend policy for holders of Trican Common Shares. The date of record will be June 29, 2012 and the date of payment will be July 13, 2012. The ex-dividend date will be June 27, 2012. Full Article
Trican Well Service Ltd. Implements Normal Course Issuer Bid And Announces Automatic Share Purchase Plan
Trican Well Service Ltd. announced that the Toronto Stock Exchange (the TSX) has accepted its application to implement a normal course issuer bid (Bid) to purchase, from March 2, 2012 to March 1, 2013, certain of its outstanding common shares (Common Shares). All purchases will be made through the facilities of the TSX. As at February 22, 2012, there were 146,926,859 Common Shares issued and outstanding. The number of Common Shares which may be purchased during the period of the Bid will not exceed 12,706,392 Common Shares, which is approximately 10% of the public float for the Common Shares. Except as permitted under the TSX rules, Trican will not purchase on any given trading day under the Bid more than 220,607 Common Shares, being approximately 25% of the average daily trading volume of the Common Shares on the TSX for the previous six calendar months of 882,429 Common Shares per day. Trican has entered into an automatic share purchase plan agreement with a broker (ASPP Agreement) for the purpose of making purchases of certain Common Shares under the Bid through the end of Trican's regularly scheduled blackout period for the first quarter of 2012. Such purchases will be determined by the broker in its sole discretion, without consultation with Trican, having regard to the price limitations and other terms of the ASPP and the rules of the TSX, and all other purchases under the Bid will be at the discretion of Trican, subject to the rules of the TSX. Full Article
Trican Well Service Ltd. Announces Dividend Increase
Trican Well Service Ltd. announced that the Board of Directors have approved an increase to its semi-annual dividend from $0.05 to $0.15 per share, thereby increasing the annual dividend to $0.30 per share. The increase will be effective for the anticipated June 30, 2012, dividend payment. Full Article
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