Trinidad’s President and CEO answers your questions about our merger with Precision Drilling

The views expressed in this blog are the personal views of Trinidad’s President and CEO, Brent Conway, and do not constitute legal or financial advice to any person.  Readers are advised to consult their own professional advisors before making any investment decision.

Brent ConwayOn Friday, October 5, Trinidad agreed to merge with Precision Drilling, creating an industry-leading contract driller. Both companies’ board of directors have agreed to the merger and recommend shareholders vote in favour. The merger is expected to be finalized later this year, following approval from our shareholders and certain regulators.

This merger comes on the heels of a hostile take-over bid submitted by Ensign, which Trinidad’s board recommends shareholders reject. Given that the Precision offer is higher than Ensign’s, this deal is better value for our shareholders – but it also better aligns with our company’s values, culture and vision.

Of course, with all these changes come a lot of questions. We’ve gathered some of the most common questions we’ve received since the announcement and passed them along to Brent Conway, our President and CEO. Keep reading to get answers from the CEO himself. Continue reading

A good rig was hard to find in the 90s: So Mike Heier founded Trinidad Drilling, 20 years ago today

Mike Heier
Mike Heier, Chairman of the Board and Founder of Trinidad Drilling.
Trinidad Drilling is celebrating its 20th anniversary today! In honour of this milestone, we sat down with our founder, Michael Heier, for a look back at where we came from and what we’ve accomplished over the past two decades.

There was a time when a good rig was hard to find.

Michael Heier, who was running a private oil and gas company called Trinity Energy in the early 1990s, understood that problem at the gut level, and decided to do something about it.

“I had a couple of drilling rigs (from another company) working into our year end. Unbeknownst to me, they took them away from me, and we didn’t get all the drilling we needed done.

“I said, well, that’s not going to happen again,” reflected Heier, now the Board Chair of Trinidad. “Let’s build a couple of rigs. That’s how Trinidad started.”

Continue reading