On November 29, 2018 Ensign Energy Services Inc. announced its successful bid to acquire Trinidad Drilling. Under the agreement, Ensign will own 66.73% of Trinidad’s outstanding shares at $1.68 per share. Ensign will acquire the remaining shares either through a Compulsory Acquisition or a Subsequent Acquisition Transaction.
Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. Ensign is one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators.
Trinidad Drilling Ltd. is a corporation headquartered in Calgary, Alberta, Canada that operates in the drilling and well servicing sectors of the North American oil and gas industry.
Osler, Hoskin & Harcourt LLP represented Ensign with a team led by Chris Murray (Corporate) and consisting of Kevin Feng (Corporate), Ryan Hayes, Daniel Tatone, 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 and Gajan Sathananthan (Regulatory).