Ensign Energy Expands Into Mexico, Bahrain And Kuwait With Trinidad Acquisition

Instant Max AI

(Energy Analytics Institute, Jared Yamin, 13.May.2019) — Ensign Energy Services acquired an 89.3% interest in Trinidad Drilling Ltd., which marks the largest such purchase in the company’s history, and adds 68 drilling rigs in Canada, 66 in the United States and one internationally.

The Trinidad acquisition during the fourth quarter of 2018 expanded Ensign’s geographic footprint with the addition of three new countries of operation: Bahrain, Kuwait and Mexico, the company said 13 May 2019 in an official statement. In addition, it adds to Ensign’s existing customer base, and provides the company additional exposure to the United States market in particular.

As part of the Trinidad acquisition, Ensign acquired a 60% interest in Trinidad Drilling, a joint venture with a wholly-owned subsidiary of Halliburton Company. TDI has five rigs and operates rigs in Bahrain, Mexico and Kuwait. Ensign owns 60 percent of the shares of TDI and each of the parties have equal voting rights.

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© Energy Analytics Institute (EAI)

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