(Total Views: 361)
Posted On: 03/24/2017 12:04:14 PM
Post# of 3605
This, I believe, is the real driving force (article) whether it is hydrogen or diesel or gasoline.....SS in NYC will be addressing these folks as well as H2 folks with rather big money to be spent on longer life field capital equipment purchase. No direct link to COTE. Quite frankly there may be no need for SS but that is an argument for another day.
http://insights.globalspec.com/article/4500/c...d=83448920
Energy and Natural Resources
Canadian Oilfield Service Groups Combine
David Wagman
22 March 2017
Trican Well Service Ltd. says it will buy Canyon Services Group Inc. for around C$637 million ($475.9 million) plus C$40 million in debt.
The combination is expected to a western Canadian-based energy services firm that has the asset base, cost structure, and financial capacity to create value for its stakeholders, said Dale Dusterhoft, Trican's president and CEO, in a statement.
The deal represents a 32% premium over the closing price of Canyon shares March 21, 2017.
The combined company will have 675,000 HHP of available fracturing capacity, a footprint of service bases across western Canada, and products and services across cementing, coiled tubing, nitrogen, industrial services, and fluid management.
The companies say that as "supportive economic conditions emerge, the combined company will look to bring a significant volume of currently parked equipment back to work at a low cost."
Both boards of directors have approved the deal, which is expected to close in the second half of 2017.
Based in Calgary, Alberta, Trican provides specialized products, equipment, and services that are used during the exploration and development of oil and gas reserves.
Canyon is an oilfield services company that focuses operations in the Western Canadian Sedimentary Basin with two core business lines: pressure pumping services and fluid management services. Canyon provides pressure pumping services while Canyon's subsidiary, Fraction Energy Services Ltd., provides fluid management services.
http://insights.globalspec.com/article/4500/c...d=83448920
Energy and Natural Resources
Canadian Oilfield Service Groups Combine
David Wagman
22 March 2017
Trican Well Service Ltd. says it will buy Canyon Services Group Inc. for around C$637 million ($475.9 million) plus C$40 million in debt.
The combination is expected to a western Canadian-based energy services firm that has the asset base, cost structure, and financial capacity to create value for its stakeholders, said Dale Dusterhoft, Trican's president and CEO, in a statement.
The deal represents a 32% premium over the closing price of Canyon shares March 21, 2017.
The combined company will have 675,000 HHP of available fracturing capacity, a footprint of service bases across western Canada, and products and services across cementing, coiled tubing, nitrogen, industrial services, and fluid management.
The companies say that as "supportive economic conditions emerge, the combined company will look to bring a significant volume of currently parked equipment back to work at a low cost."
Both boards of directors have approved the deal, which is expected to close in the second half of 2017.
Based in Calgary, Alberta, Trican provides specialized products, equipment, and services that are used during the exploration and development of oil and gas reserves.
Canyon is an oilfield services company that focuses operations in the Western Canadian Sedimentary Basin with two core business lines: pressure pumping services and fluid management services. Canyon provides pressure pumping services while Canyon's subsidiary, Fraction Energy Services Ltd., provides fluid management services.
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