Ensign Energy Services Inc.

Ensign Energy Services Inc. in its proposed acquisition of Trinidad Drilling Ltd. for $947 million

Client

Ensign Energy Services Inc.

Value

$947 million

Service

Mergers and Acquisitions

Date Closed

Industry

Energy (Oil & Gas)

Lead Office

Toronto


 

On August 13, 2018, Ensign Energy Services Inc. announced that it intends to commence an offer to acquire, through a wholly-owned subsidiary, all of the issued and outstanding common shares of Trinidad Drilling Ltd. for $1.68 in cash per common share. The total value of the transaction is approximately $947 million.

The acquisition aims to create meaningful shareholder value to pursue Trinidad’s revised five-year strategic plan, capitalizing on Trinidad’s operational excellence, strong customer base, geographic diversity and solid financial position.

Ensign is a global leader in drilling and servicing wells and a full slate of land-based services for oil, gas and geothermal energy.

Osler, Hoskin & Harcourt LLP represented Ensign with a team led by Chris Murray (Corporate) and consisting of Richard Borins (Financial Services), Rob Lando (US Corporate), Neal Ross, Jennifer Jeffrey, Heidi Wong (Corporate), Jennifer Lee (US Tax), Drew Morier, Christopher Sheridan (Tax), and Shuli Rodal (Regulatory).


Team
Richard M. Borins

Richard M. Borins

Partner, Financial Services

Rob  Lando

Rob Lando

Partner, Corporate

Jennifer Lee

Jennifer Lee

Partner, Taxation

Drew Morier | International Tax Lawyer

Drew Morier

Partner, Taxation

Shuli Rodal - Competition Lawyer

Shuli Rodal

Partner, Competition Law/Foreign Investment Group

Neal  Ross

Neal Ross

Partner, Corporate

Heidi  Wong

Heidi Wong

Counsel, Corporate

Christopher Sheridan

Christopher Sheridan

Associate, Taxation

Jennifer Jeffrey

Jennifer Jeffrey

Associate, Corporate