NYSE: PDS 2.45 ( +0.05 ) +2.08% Volume: 1,674,043 November 14, 2018
TSX: PD 3.26 ( +0.06 ) +1.88% Volume: 4,665,230 November 14, 2018
Trinidad-Combination

Trinidad Combination

On October 5th, 2018 Precision Drilling announced the combination with Trinidad Drilling accelerating growth as a High Performance, High Value provider of land driller services. The combination provides a truly unique opportunity to combine two highly-focused drilling contractors that are pursuing similar growth initiatives and competitive strategies and importantly, operating similar Tier 1 assets.

Combination Rationale
  • Expand platform for U.S. and international growth and technology deployment
  • Cultures with commitment to people, safety, technology and customers
  • Two highly focused drilling contractors pursing similar strategies with complementary Tire 1 assets
  • Immediate cost synergies enhanced by long-term operating efficiencies from increased scale
  • Strong balance sheet and cash flow profile supports Precision’s deleveraging plan and improves financial flexibility to pursue attractive growth opportunities

Email: investorrelations@precisiondrilling.com