TDG.TO - Trinidad Drilling Ltd.

Toronto - Toronto Delayed Price. Currency in CAD
1.6700
0.0000 (0.00%)
At close: 4:00PM EST
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Previous Close1.6700
Open1.6700
Bid1.67 x 0
Ask1.68 x 0
Day's Range1.6700 - 1.6800
52 Week Range1.3300 - 2.1100
Volume289,339
Avg. Volume993,564
Market Cap456.675M
Beta (3Y Monthly)1.47
PE Ratio (TTM)N/A
EPS (TTM)-1.97
Earnings DateOct 31, 2017 - Nov 6, 2017
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2015-12-29
1y Target Est1.95
  • Reuters17 days ago

    Trinidad Drilling top execs quit as Ensign tender gets most shares

    Canada's Ensign Energy Services Inc said on Tuesday 56.38 percent of Trinidad Drilling Ltd shares have been tendered in its hostile offer, resulting in rival bidder Precision Drilling Corp walking away ...

  • CNW Group17 days ago

    Trinidad Announces Termination of the Precision Arrangement Agreement, Voluntary Resignation of Trinidad Directors and Senior Officers and Replacement with Ensign Appointees

    CALGARY , Nov. 27, 2018 /CNW/ - Trinidad Drilling Ltd. (TDG.TO) ("Trinidad") announces that Ensign Energy Services Inc. (ESI.TO) ("Ensign") has confirmed to Trinidad that Ensign's  wholly-owned subsidiary Ensign Holdings Inc. has taken up approximately 56.38 per cent of the common shares of Trinidad ("Trinidad Shares") tendered to its offer for Trinidad Shares at $1.68 per share (the "Offer"), which together with the 26,863,239 Trinidad Shares already owned by Ensign, represents approximately 66.18 per cent of the issued and outstanding Trinidad Shares.

  • Reuters17 days ago

    Ensign Energy tender gets over 50 pct of Trinidad shares, Precision ends bid

    Canada's oilfield services provider Ensign Energy Services Inc said on Tuesday about 56 percent of Trinidad Drilling Ltd's shares have been tendered in its hostile offer, with rival bidder Precision Drilling Corp walking away. Precision and Trinidad's shares both closed up more than 2.5 percent, while Ensign ended down 8.8 percent. Ensign said the tendered shares helped meet the statutory minimum condition for its C$947-million hostile offer.

  • Reuters17 days ago

    Ensign Energy says over 50 pct of Trinidad shares tendered in hostile bid

    Canada's oilfield services provider Ensign Energy Services Inc said on Tuesday about 56 percent of Trinidad Drilling Ltd's shares have been tendered to its hostile bid, giving the company an upper hand over Precision Drilling Corp's rival offer. The company now owned 66.18 percent of issued and outstanding Trinidad shares, including the 26,863,239 shares of Trinidad it already owned. Ensign decided to launch the hostile bid for Trinidad in August after the target company completed a strategic review it began in February, while North American drilling contractor Precision offered a deal valued at C$1.03 billion in October.

  • CNW Group17 days ago

    Ensign Announces Successful Acquisition of 56.38 % of Trinidad Shares

    CALGARY , Nov. 27, 2018 /CNW/ - Ensign Energy Services Inc. (ESI.TO) ("Ensign") announced today that the conditions to its offer for Trinidad Shares at $1.68 per share (the "Offer") have been satisfied or waived and it has taken up the Trinidad Shares deposited to the Offer as of 10:00 a.m. on November 27, 2018 . Approximately 56.38 per cent of the common shares ("Trinidad Shares") of Trinidad Drilling Ltd. (TDG.TO) ("Trinidad") (154,111,528 Trinidad Shares) have been tendered to the Offer and have been taken up by Ensign satisfying the Statutory Minimum Condition being the tender to the Offer of more than 50% of the Trinidad Shares not owned or controlled by Ensign. Together with the 26,863,239 Trinidad Shares already owned by Ensign, this represents approximately 66.18 per cent of the issued and outstanding Trinidad Shares.

  • Rigzone.com18 days ago

    Ensign Completes Hostile Takeover of Trinidad Drilling

    Ensign Energy beats out Precision Drilling in a bidding war for Trinidad Drilling.

  • GlobeNewswire22 days ago

    Precision Drilling Confirms Its Offer; Strongly Encourages Trinidad Drilling Shareholders Not to Tender to Ensign Offer and to Vote for Value Creating Combination With Precision

    This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release. NYSE:PDS) today confirms its continued support for the strategic share exchange merger (the “Precision Transaction”) with Trinidad Drilling Ltd. (“Trinidad”) (TDG.TO) on the basis of 0.445 of a Precision common share (a “Precision Share”) for each Trinidad common share (a “Trinidad Share”).

  • CNW Group22 days ago

    Trinidad Drilling Announces Intention to Waive Application of its Shareholder Rights Plan and Confirms Support for Precision Transaction

    CALGARY , Nov. 22, 2018 /CNW/ - Trinidad Drilling Ltd. (TDG.TO) ("Trinidad" or "the Company") today announced that its board of directors (the "Trinidad Board") intends to waive the application of its shareholder rights plan (the "Shareholder Rights Plan") on November 23, 2018 as the Shareholder Rights Plan is no longer required for its intended purpose. In accordance with the terms of the Shareholder Rights Plan, the waiver of the Shareholder Rights Plan applies to all transactions that would result in any person acquiring 20% or more of the issued and outstanding common shares of the Company ("Trinidad Shares") by way of a Take-Over Bid (as such term is defined in the Shareholder Rights Plan), including the unsolicited all-cash offer from Ensign Energy Services Inc. ("Ensign") to acquire all of the Trinidad Shares (the "Ensign Offer").  A copy of the Shareholder Rights Plan is available under Trinidad's profile on SEDAR at www.sedar.com.

  • ACCESSWIRE24 days ago

    Today's Research Reports on CanWel Building Materials, Trinidad Drilling, Magna International and CWC Energy Services

    NEW YORK, NY / ACCESSWIRE / November 20, 2018 / The Market Edge strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register with us ...

  • CNW Group26 days ago

    Trinidad Drilling Continues to Support Strategic Merger with Precision; Recommends Rejection of Accelerated Inadequate Ensign Offer

    CALGARY , Nov. 19, 2018 /CNW/ - Trinidad Drilling Ltd. (TDG.TO) ("Trinidad" or "the Company") today confirmed its continued support for a strategic share exchange merger (the "Precision Transaction") with Precision Drilling Corporation ("Precision"). Following the completion of the Precision Transaction, the combined entity will be one of the largest North American land drillers, operating a high-quality fleet of 348 rigs in key US and Canadian basins, with an expanded international footprint. This press release contains important information for shareholders of Trinidad , and you are encouraged to consult with your investment dealer, broker, bank manager, lawyer or other professional advisor should you have questions with respect to the matters discussed herein.

  • CNW Group28 days ago

    Ensign Accelerates Expiry of Previously Announced All-Cash Offer to Acquire Trinidad to November 27, 2018

    Ensign Accelerates Expiry of Previously Announced All-Cash Offer to Acquire Trinidad to November 27, 2018

  • CNW Grouplast month

    Trinidad Drilling Reports Third Quarter and Year-to-Date 2018 Results; Strong Adjusted EBITDA Growth Driven by Higher Activity and Dayrates

    Trinidad Drilling Reports Third Quarter and Year-to-Date 2018 Results; Strong Adjusted EBITDA Growth Driven by Higher Activity and Dayrates

  • CNW Grouplast month

    Trinidad Drilling and Precision Drilling File Joint Information Circular; Trinidad Provides Impact of Combination on Balance Sheet

    NYSE: PDS).  The Circular was prepared for Trinidad and Precision's respective special securityholders' meetings to be held on December 11, 2018 in connection with previously announced strategic combination of Precision and Trinidad (the "Arrangement").  Pursuant to the Arrangement, Precision has agreed to acquire all of the issued and outstanding common shares of Trinidad on the basis of 0.445 common shares of Precision for each outstanding common share ("Trinidad Share") of Trinidad (the "Share Consideration"). Securityholders of Trinidad ("Trinidad Securityholders") and shareholders of Precision (the "Precision Shareholders") should receive these meeting materials by mail in advance of the Trinidad meeting of securityholders ("Trinidad Meeting").

  • CNW Grouplast month

    Trinidad Drilling Announces Timing of Third Quarter 2018 Results

    Trinidad Drilling Announces Timing of Third Quarter 2018 Results

  • This Oil Services Company Makes a Daring Bet on the Future of Shale
    Motley Fool2 months ago

    This Oil Services Company Makes a Daring Bet on the Future of Shale

    Precision Drilling thinks that North American shale drilling will continue to be in growth mode for years, and it's making an audacious acquisition to prove it.

  • ACCESSWIRE2 months ago

    Today's Research Reports on CanWel Building Materials, Trinidad Drilling, Findev and CWC Energy Services

    NEW YORK, NY / ACCESSWIRE / October 22, 2018 / Research Driven Investing strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register ...

  • The Zacks Analyst Blog Highlights: Ensco, Rowan, Precision Drilling, Williams and Encana
    Zacks2 months ago

    The Zacks Analyst Blog Highlights: Ensco, Rowan, Precision Drilling, Williams and Encana

    The Zacks Analyst Blog Highlights: Ensco, Rowan, Precision Drilling, Williams and Encana

  • Moody's2 months ago

    Trinidad Drilling Ltd. -- Moody's says Trinidad accepting Precision's bid is credit positive

    Moody's Investors Service (Moody's) says Trinidad Drilling Ltd.'s (Trinidad, B2 stable) announcement that it has agreed to merge with Precision Drilling Corporation (Precision, B2 stable) is credit positive. The roughly C$1 billion offer is comprised of about C$550 million of Precision shares and C$477 million of assumed Trinidad balance sheet net debt at June 30, 2018. If the transaction closes as structured, this is a credit positive move for Trinidad because it will expand the international foot print and increase the rig fleet to 348 rigs (excluding 50 rigs held for sale) from 141 rigs (including the JV), which would make Trinidad the one of the largest drillers in the United States and the largest drilling in Canada.

  • Precision (PDS) Outbids Ensign in C$1.03B Buyout of Trinidad
    Zacks2 months ago

    Precision (PDS) Outbids Ensign in C$1.03B Buyout of Trinidad

    Precision Drilling (PDS) would make up for approximately 30% of the contract drilling market in Canada, following Trinidad's acquisition.

  • Rigzone.com2 months ago

    Precision Drilling to Pay $1B for Trinidad Drilling

    The acquisition will create the third largest drilling contractor in the US.

  • Reuters2 months ago

    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. "We'll have strong coverage in other U.S. shale plays and in the Permian," said Precision Chief Financial Officer Carey Ford on a call with analysts. Precision expects the deal, which was unanimously approved by Trinidad's board, to save it more than C$30 million per year.

  • CNW Group2 months ago

    Trinidad Drilling Announces Strategic Merger with Precision Drilling to Create Industry-Leading Contract Driller

    Under the terms of the combination, Precision is offering 0.445 of a Precision Share (each whole share a "Precision Share") for each of the issued and outstanding common shares of Trinidad (the "Trinidad Shares"). Total consideration for Trinidad is approximately $1,028 million , comprised of approximately $540 million in Precision Shares plus the assumption by Precision of $477 million in Trinidad debt.

  • GlobeNewswire2 months ago

    Precision Drilling Announces Combination With Trinidad Drilling Accelerating Growth as a High Performance, High Value Provider of Land Drilling Services

    This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release. NYSE:PDS) is pleased to announce that it has entered into an arrangement agreement (the "Arrangement Agreement") with Trinidad Drilling Limited ("Trinidad") (TDG.TO) pursuant to which Precision has agreed to acquire all of the issued and outstanding common shares of Trinidad (the "Trinidad Shares") on the basis of 0.445 common shares of Precision (the "Precision Shares") for each outstanding Trinidad Share pursuant to a plan of arrangement (the "Transaction").

  • CNW Group3 months ago

    Trinidad Board of Directors Recommends Shareholders Reject Ensign's Hostile Offer and Do Not Tender Shares; Trinidad Operations Continue to Perform Strongly

    The Board's determination followed careful consideration, including advice from its financial and legal advisors, and the recommendation of the Special Committee. The Board believes the Ensign Offer significantly undervalues Trinidad and unanimously recommends that Shareholders REJECT the Ensign Offer and NOT TENDER their Common Shares.

  • Moody's3 months ago

    Trinidad Drilling Ltd. -- Moody's: Ensign's offer to acquire Trinidad will trigger a Change of Control

    Moody's Investors Service ("Moody's") says Energy Services Inc.'s (Ensign, unrated) bid to acquire Trinidad Drilling Ltd. (B2 stable) will trigger the Change of Control provision governing Trinidad's US$350 million senior unsecured notes and could lead Ensign to repurchase all of Trinidad's notes at 101%. If Ensign does repurchase all of Trinidad's notes then the Trinidad ratings will be withdrawn.