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Trinidad Drilling Ltd (TDG.TO)

TDG.TO on Toronto Stock Exchange

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16 Oct 2018
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Latest Key Developments (Source: Significant Developments)

Ensign Energy Services Commences Formal Offer To Acquire Trinidad Drilling
Thursday, 30 Aug 2018 05:00am EDT 

Aug 30 (Reuters) - Ensign Energy Services Inc ::ENSIGN COMMENCES FORMAL OFFER TO ACQUIRE TRINIDAD.ENSIGN ENERGY SERVICES - UNDER TERMS OF OFFER, OFFEROR HAS OFFERED TO ACQUIRE ALL OUTSTANDING COMMON SHARES OF TRINIDAD FOR $1.68 PER SHARE IN CASH.FULLY FUNDED ALL-CASH OFFER PROVIDES IMMEDIATE LIQUIDITY AND CERTAINTY OF VALUE TO TRINIDAD SHAREHOLDERS.  Full Article

Ensign Energy Services To Buy Trinidad Drilling For About $947 Mln, Including Debt
Monday, 13 Aug 2018 05:00am EDT 

Aug 13 (Reuters) - Ensign Energy Services Inc ::ANNOUNCES OFFER TO ACQUIRE TRINIDAD DRILLING LTD..SHAREHOLDERS OF TRINIDAD TO RECEIVE $1.68 IN CASH PER TRINIDAD COMMON SHARE.TOTAL VALUE OF THE TRANSACTION IS APPROXIMATELY $947 MILLION.ENSIGN ENERGY SERVICES - TOTAL VALUE OF TRANSACTION INCLUDES TRINIDAD'S ESTIMATED OUTSTANDING NET DEBT OF $477 MILLION AS AT JUNE 30, 2018.  Full Article

Trinidad Drilling Q4 Net Shr Loss $0.06
Monday, 26 Feb 2018 08:45pm EST 

Feb 26 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING REPORTS FOURTH QUARTER AND YEAR-END 2017 RESULTS; IMPROVING INDUSTRY CONDITIONS DRIVE HIGHER FOURTH QUARTER ADJUSTED EBITDA.QTRLY REVENUE $137.902 MILLION VERSUS $93.06 MILLION ‍​.QTRLY NET LOSS PER SHARE $0.06‍​.IN 2018, THE COMPANY EXPECTS TO SPEND APPROXIMATELY $94 MILLION IN CAPITAL EXPENDITURES.TRINIDAD DRILLING- ‍ FOLLOWING A REVIEW TAKEN IN EARLY 2018, CO REDUCED HEADCOUNT, ROLLED BACK SALARIES AND IMPLEMENTED TIGHTER EXPENSE MANAGEMENT​.‍IN 2018, COMPANY EXPECTS TO SPEND APPROXIMATELY $94 MILLION IN CAPITAL EXPENDITURES​.TRINIDAD RECENTLY COMMENCED A FORMAL PROCESS TO INITIATE A STRATEGIC REVIEW IN AN EFFORT TO ENHANCE SHAREHOLDER VALUE.TRINIDAD DRILLING- ‍CO'S BOARD INTENDS TO CONSIDER A BROAD RANGE OF ALTERNATIVES, INCLUDING A SALE OF SELECTED ASSETS.  Full Article

Trinidad Drilling Ltd Lowers G&A Guidance By Nearly 20 pct
Monday, 8 Jan 2018 08:33pm EST 

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

Trinidad Drilling Announces The Extension And Amendment Of Its Credit Facility
Thursday, 30 Nov 2017 05:54pm EST 

Nov 30 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING LTD. ANNOUNCES THE EXTENSION AND AMENDMENT OF ITS CREDIT FACILITY.TRINIDAD DRILLING LTD - ‍AGREED TO EXTEND MATURITY OF COMPANY'S EXISTING CREDIT FACILITY BY TWO YEARS, EXTENDING MATURITY DATE TO DECEMBER 12, 2020​.TRINIDAD DRILLING LTD - MINOR AMENDMENTS WERE MADE TO FACILITY AND SIZE OF CREDIT FACILITY REMAINS UNCHANGED AT C$100 MILLION AND US$100 MILLION​.TRINIDAD DRILLING-EXPECTS BANK EBITDA TO CASH INTEREST EXPENSE COVENANT TO BE POSITIVELY IMPACTED IN 2018 BY LOWER INTEREST RATE ON ITS SENIOR NOTES​.  Full Article

Trinidad Drilling Ltd announces normal course issuer bid
Monday, 25 Sep 2017 05:30pm EDT 

Sept 25 (Reuters) - Trinidad Drilling Ltd :Trinidad Drilling Ltd. announces normal course issuer bid.Trinidad Drilling Ltd - ‍bid will commence on September 28, 2017 and terminate on earlier of september 27, 2018​.Trinidad Drilling - has received approval from tsx to acquire for cancellation, by way of normal course issuer bid, up to 23 million common shares of co.  Full Article

Trinidad Drilling acquires rig technology provider RigMinder
Monday, 28 Aug 2017 07:30am EDT 

Aug 28 (Reuters) - Trinidad Drilling Ltd :Trinidad Drilling announces strategic acquisition of RigMinder, a global provider of rig technology.Trinidad Drilling Ltd - price of RigMinder acquisition for US$30 million.Trinidad Drilling- in addition, co has agreed to pay US$10 million on later of anniversary of closing date, achievement of equipment deployment milestones.Trinidad Drilling Ltd- ‍including acquisition of RigMinder, Trinidad expects its FY 2017 capital expenditure program to remain unchanged at $175 million​.Trinidad Drilling Ltd- ‍general and administrative costs are expected to increase slightly to approximately $56 million in 2017​.Trinidad Drilling Ltd - including acquisition of RigMinder, trinidad expects FY 2017 capital expenditure program to remain unchanged at $175 million.  Full Article

Trinidad Drilling reports quarterly share loss of C$0.02
Tuesday, 1 Aug 2017 09:19pm EDT 

Aug 1 (Reuters) - Trinidad Drilling Ltd :Trinidad Drilling reports second quarter 2017 results; improving industry conditions drive increased year-over-year activity.Q2 loss per share C$0.02.Q2 earnings per share view C$-0.08 -- Thomson Reuters I/B/E/S.Trinidad Drilling Ltd - "activity levels in Q3 of 2017 remain well ahead of same time last year".Says Trinidad's capital budget for 2017 remains unchanged at $175 million.Qtrly revenue $101.2 million versus $94.5 million.All amounts in C$.  Full Article

Trinidad Drilling Q1 loss per share C$0.05
Tuesday, 9 May 2017 08:23pm EDT 

May 9 (Reuters) - Trinidad Drilling Ltd :Reports first quarter results; improving industry conditions drive increased activity.Q1 revenue $132.7 mln versus $107.6 mln.Q1 loss per share C$0.05.Q1 earnings per share view c$-0.05 -- Thomson Reuters I/B/E/S.  Full Article

Trinidad Drilling says increased capital expenditure budget for 2017 by $80 mln
Monday, 1 May 2017 10:08pm EDT 

May 1 (Reuters) - Trinidad Drilling Ltd :Announced that it has increased its capital expenditure budget for 2017 by $80 million.In 2017, Trinidad expects to spend approximately $175 million in capital expenditures.Trinidad Drilling - expects to recover upgrade capital invested in 2017 through incremental adjusted EBITDA on an annualized basis within 2.5 years.  Full Article

Precision Drilling trumps Ensign bid for peer Trinidad

North American drilling contractor Precision Drilling Corp on Friday said it would buy Trinidad Drilling Ltd in a deal valued at C$1.03 billion ($796 million), trumping a hostile bid from rival Ensign Energy Services .