Trinidad Drilling

Trinidad Drilling Ltd. was a Calgary-based corporation that provided drilling and well-servicing solutions to the North American oil and gas industry. The company was founded in 1996 by Michael Heier, who identified a market need for high-quality, high-performance rigs while running his private oil and gas company, Trinity Energy. Frustrated by the lack of reliable equipment, Heier, alongside his father and brother, started Trinidad Drilling to build their own rigs, incorporating the company on February 23, 1996.

The company's first rig commenced operations in November 1996. A significant growth phase began after Trinidad went public on the Toronto Stock Exchange (TSX) in 2000 under the symbol TDG, doubling its fleet within two months. This expansion was driven by a combination of strategic acquisitions and in-house rig construction. By 2005, the company expanded its operations into the United States and subsequently entered the Mexican market in 2008 and Saudi Arabia in 2014. A notable milestone in 2017 was the acquisition of RigMinder Inc., which enabled the integration of electronic data between the rig and directional drilling tools, leading to cost efficiencies.

Trinidad Drilling provided contract drilling and related services with a fleet considered to be one of the most adaptable and technologically advanced in the sector. The company operated a fleet of 141 drilling rigs, including 61 high-specification AC rigs, serving clients in Canada, the United States, Mexico, and the Middle East. Its business model revolved around providing safe and reliable drilling equipment operated by experienced personnel, catering to the specific needs of oil and natural gas producers in various key shale plays.

In late 2018, Trinidad Drilling became the subject of a bidding war. After an unsolicited offer from Ensign Energy Services, Precision Drilling entered into an agreement to acquire Trinidad in a deal valued at approximately $1.03 billion. However, Ensign ultimately succeeded with its hostile takeover bid. By November 2018, 56.38% of Trinidad's shareholders had tendered their shares to Ensign's offer. The acquisition was formally completed, and Trinidad Drilling was amalgamated into Ensign Energy Services in early 2019, ceasing to exist as an independent entity.

Keywords: contract drilling, oil and gas services, well servicing, land drilling, drilling rigs, North American oil industry, Canadian drilling company, hostile takeover, oilfield services, energy services, AC rigs, international drilling, Permian Basin, drilling technology, oil exploration, Ensign Energy Services, Precision Drilling, Michael Heier