Precision Drilling trumps Ensign bid for peer Trinidad | Reuters

(Reuters) – North American drilling contractor Precision Drilling Corp (PD.TO) on Friday said it would buy Trinidad Drilling Ltd (TDG.TO) in a deal valued at C$1.03 billion ($796 million), trumping a hostile bid from rival Ensign Energy Services (ESI.TO).

The acquisition, which has an enterprise value of about C$4 billion, makes Precision the third-largest driller in the United States with more than 200 active rigs and 322 rigs in total, said the companies, both based in the Canadian province of Alberta.
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