Trinidad Drilling Company News

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Ensign Completes Hostile Takeover of Trinidad Drilling
Tuesday, November 27, 2018 Ensign Energy beats out Precision Drilling in a bidding war for Trinidad Drilling.

Trinidad Drilling Expands Rig Fleet
Thursday, June 09, 2011 Trinidad Drilling announced the acquisition of four drilling rigs that, following enhancements, will be added to its US drilling operations.

Trinidad Drilling Sells Service Rigs
Thursday, June 09, 2011 Trinidad Drilling has entered into an agreement to sell its well servicing rigs and related equipment to Central Alberta Well Services Corp.

Trinidad Drilling Extends Rig Contract Terms
Monday, May 16, 2011 Trinidad Drilling has re-signed long-term, take-or-pay contracts with expanding gross margins on 24 existing rigs.

Trinidad Drilling to Add New Rigs to Fleet
Friday, April 15, 2011 Trinidad Drilling has agreed to build two new rigs for delivery into operations in 2011.

Trinidad Drilling Renews Credit Agreement
Wednesday, April 07, 2010 Trinidad Drilling has amended its credit facilities, including extended terms and an additional US dollar denominated revolving facility.

Trinidad Drilling Reports Strong '09 Operating Results
Wednesday, March 03, 2010 Trinidad Drilling reported operating and financial results for 2009 reflecting strong gross margins, improved financial flexibility and expanded US and international operations.

Trinidad Drilling Closes Bought Deal Equity Financing
Thursday, June 25, 2009 Trinidad Drilling has announced the closing of its previously announced equity financing.

Trinidad Drilling Extends Take-Or-Pay Contracts with US Operator
Monday, May 04, 2009 Trinidad Drilling has successfully renegotiated and extended the terms on 17 long-term, take-or-pay contracts with one of its key US customers.

Trinidad Drilling Updates Budget, Trims Q1 Dividend
Thursday, February 19, 2009 Trinidad Drilling has updated its capital expenditure budget for 2009 and has reduced its first quarter dividend.

Trinidad Maintains Record Breaking Revenue Trend in 3Q
Thursday, November 06, 2008 Trinidad Drilling has reported strong operating and financial results for the third quarter and first nine months of 2008.

Trinidad Drilling Transfers 5 Canadian Rigs to U.S., Mexico
Thursday, September 04, 2008 Trinidad Drilling agreed to move five existing rigs into higher dayrate and utilization areas in the United States and Mexico. These rigs are expected to operate in the Haynesville Shale, Louisiana and the Bakken Shale, North Dakota.

Trinidad Drilling Snags Victory Rig Equipment Corp.
Wednesday, September 03, 2008 Trinidad Drilling Ltd. has purchased Victory Rig Equipment Corporation, a privately-held oilfield equipment fabrication company based in Red Deer, Alberta.

Trinidad's Revenues Reach Record Levels, Up 22.2% in Q2
Tuesday, August 12, 2008 Trinidad Drilling reported solid operating and financial results for the second quarter and first six months of 2008 today. Revenue reached record levels of $141.2 million for the second quarter of 2008, up 22.2 percent.

Trinidad Inks Deal to Sell Barge Drilling Rig for $54MM
Thursday, July 10, 2008 Trinidad Drilling has entered into an agreement to sell the barge drilling rig it has been constructing in Indonesia to an international third party for a total of $54 million.

Trinidad Drilling Prepares Cash Distribution for March 2008
Friday, March 14, 2008 The dividend is designated as an "eligible dividend" for Canadian Income Tax purposes.

Technip Awarded Pipeline Contract by BG Trinidad and Tobago
Friday, April 21, 2006 Technip has been awarded a contract by BG Trinidad and Tobago for the flowlines, risers, and umbilicals for the North Coast Marine Area (NCMA) Development, offshore Trinidad.

GE Energy Financial Provides Debt Facility for Trinidad Drilling
Thursday, April 20, 2006 Pursuing growth in oilfield services and in Canada, GE Energy Financial Services has closed an expanded syndicated loan facility it structured for Trinidad Drilling.

Trinidad Drilling Acquires Assets of Bear Drilling
Thursday, June 19, 2003 Trinidad Drilling has agreed to purchase certain assets of Bear Drilling which include three heavy double drilling rigs and two triple drilling rigs.