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Weekly OFS Newsletter – October 16, 2017

OILFIELD SERVICES UPDATE Monday October 16, 2017 News items ended October 15, 2017 Mergers and Acquisitions Calgary based INNOVA Global Ltd. acquired the shares of multinational gas turbine auxiliary equipment specialist, Braden, from Texas based Global Power Equipment Group. The acquisition includes Braden Manufacturing LLC (Oklahoma), Consolidated Fabricators (Massachusetts) and Braden-Europe (N... Continue Reading

Weekly OFS Newsletter – October 10, 2017

OILFIELD SERVICES UPDATE Tuesday October 10, 2017 News items ended October 9, 2017   Mergers and Acquisitions Xtreme Drilling Corp. (TSX:XDC) sold four XDR 200 drilling rigs with associated spares and inventory to a private Canadian party for gross proceeds of $9.1 million. The sale is aligned with its strategy to focus on major US resource plays and to enhance liquidity. Calgary based Enform... Continue Reading

Weekly OFS Newsletter – October 2, 2017

OILFIELD SERVICES UPDATE Monday October 2, 2017 News items ended October 1, 2017 Mergers and Acquisitions Gibson Energy Inc. (TSX:GEI) announced the completion of the sale of its industrial propane business to Superior Plus LP, a subsidiary of Superior Plus Corp. for $435 million. The sale of the industrial propane business is in line with Gibson’s transformation efforts to be more specialized in... Continue Reading

Whitehorn OFS Newsletter – September 25, 2017

OILFIELD SERVICES UPDATE Monday September 25, 2017 News items ended September 24, 2017 Mergers and Acquisitions TerraVest Capital (TSX:TVK) announced the acquisition of Michigan based Fischer Tanks LLC’s, a North American propane tank manufacturer and refurbisher. The acquisition further complements TerraVest’s current product offerings and will provide its customers with additional products and s... Continue Reading

Whitehorn OFS Newsletter – September 18, 2017

OILFIELD SERVICES UPDATE Monday September 18, 2017 News items ended September 17, 2017 Financing Strad Energy Services Ltd. (TSX:SDY) announced a share repurchase program of up to 3 million common shares, representing approximately 5% of its outstanding issued share capital. The normal course issuer bid will terminate on September 13, 2018 or if completed earlier by Strade. High Arctic Energy Serv... Continue Reading

Whitehorn OFS Newsletter – September 11, 2017

OILFIELD SERVICES UPDATE Monday September 11, 2017 News items ended September 10, 2017 Mergers and Acquisitions Mullen Group Ltd. (TSX:MTL) announced the closing of its acquisition of Saskatchewan based RDK Transportation Co. Inc., a truckload deck service provider with a fleet of 80 power units and 107 trailers. This acquisition is expected to contribute $20 million in annualized revenue. White O... Continue Reading

Weekly OFS Newsletter – September 5, 2017

OILFIELD SERVICES UPDATE Tuesday September 5, 2017 News items ended September 4, 2017 Mergers and Acquisitions Canadian Natural Resources Ltd. (TSX:CNQ) acquired the Greater Pelican Lake region assets from Cenovus Energy Inc. (TSX:CVE) for gross cash considerations of $975 million. The assets have an approximate production capacity of 19,600 boe per day and increase Canadian Natural Resources Ltd.... Continue Reading

Weekly OFS Newsletter – August 28, 2017

OILFIELD SERVICES UPDATE Monday August 28, 2017 News items ended August 27, 2017 Mergers and Acquisitions Trinidad Drilling Ltd. (TSX:TDG) acquired Texas based RigMinder Operating LLC in a USD $30 million transaction, consisting of USD $25 million in cash and the remaining in common shares. The acquisition of RigMinder’s drilling technology rights complements Trinidad’s drilling fleet. Financing C... Continue Reading

Weekly OFS Newsletter – August 21, 2017

OILFIELD SERVICES UPDATE Monday August 21, 2017 News items ended August 20, 2017   Mergers and Acquisitions Gibson Energy Inc. (TSX:GEI) is being pressured to proceed with additional asset sales by its largest shareholder, M&G Investment Management Ltd. The privately-owned investment manager, who owns 19.4% of Gibson, intends to position the remaining oil-storage business as an attractive... Continue Reading

Weekly OFS Newsletter – August 14, 2017

OILFIELD SERVICES UPDATE Monday August 14, 2017 News items ended August 13, 2017 Mergers and Acquisitions Nabors Industries Inc. (NYSE:NBR) announced the USD $223 million all-stock acquisition of Tesco Corporation (NASDAQ:TESO). This transaction combines Tesco’s rig equipment manufacturing, rental and aftermarket services business with Nabor’s existing rig equipment business subsidiary, Canrig. Hu... Continue Reading


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