Trinidad Drilling Acquired by Ensign Energy in Billion-Dollar Deal

Trinidad Drilling has made some big moves in the industry. The company was acquired by Ensign Energy in a billion-dollar deal. This is a significant development for the company and its stakeholders.

Trinidad Drilling was founded in 1986 by a group of entrepreneurs. The company has since grown to become a leading player in the drilling industry.

The acquisition by Ensign Energy is a major milestone for Trinidad Drilling. It's a testament to the company's hard work and dedication to its mission.

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Trinidad Drilling Ltd. reported a net loss of $17.7 million for the fourth quarter of 2017.

This was a significant increase from the year-earlier period, with the company's net loss jumping by 50 per cent.

The revenue for the last three months of 2017 was $138 million, a 48 per cent increase from the previous year.

Higher depreciation and amortization expenses contributed to the net loss, making it harder for the company to turn a profit.

A lower contribution from joint venture operations also had a negative impact on the company's financial performance.

Trinidad Drilling's business model is centered around providing drilling services to oil and gas operators in Western Canada. They operate a fleet of drilling rigs and provide a range of services including drilling, completion, and workover.

Their rig count has fluctuated over the years, but they currently operate around 120 drilling rigs. The company has a significant presence in the Canadian oil and gas industry.

Trinidad Drilling has a strong balance sheet, with a debt-to-equity ratio of around 0.4. This suggests that the company has a manageable level of debt relative to its equity.

The company has a history of generating positive cash flow, with EBITDA margins averaging around 25% over the past few years. This has enabled them to invest in their business and pay dividends to shareholders.

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