
Precision Drilling Trust's PDS first-quarter revenue actually improved over last year's numbers, due to the Grey Wolf merger, which was completed late last year. Revenue was CAD 448 million, a 31% increase over last year's numbers
and $150 million in trust units. The proceeds of these financings will be used to pay down the bridge loan from the Grey Wolf acquisition. The trust is also suspending its monthly distribution. While we aren't surprised by the actions taken
Precision Drilling PDS announced that the blended cash interest rate on the financing for the Grey Wolf deal has increased to 11% from 8% as previously estimated in late October. The trust also noted that its banking syndicate has
has reached an agreement to acquire Grey Wolf GW for $5 cash and 0.1883 Precision ..... variability of northern weather. Most Grey Wolf employees are expected to stay on at Precision, with three Grey Wolf directors joining the Precision board
We are placing our fair value estimate for Precision Drilling Trust PDS under review while we take a look at the new terms of the Grey Wolf deal.
contract and interest may be sufficient to lock in the remaining rigs at potentially higher rates going forward. The Grey Wolf process is ongoing and with the Basic merger being voted down, the window remains open for a transaction. A successful
Basic Energy Services' BAS planned merger with Grey Wolf GW came to an end Tuesday after Grey Wolf 's shareholders voted against the combination ..... voted in favor of it. After the rejection from Grey Wolf shareholders, the firms decided to terminate
On Tuesday, Grey Wolf GW announced its receipt of an unsolicited ..... could result in the noncompletion of Grey Wolf 's previously proposed merger with Basic ..... which will work out to about $9.00 per Grey Wolf share in cash and units, Precision cited
agreed to a merger of equals with Grey Wolf GW for an estimated combined company ..... prices. The new company will be named Grey Wolf and trade under the ticker GW. Basic ..... in cash and 0.9195 share of new Grey Wolf for each BAS share. Grey Wolf shareholders
by falling natural gas prices and a slowing economy. Grey Wolf , a drilling service provider, caused much of the damage ..... than 50% since the first of the year. As evidenced by Grey Wolf , equities play a bigger role with this fund than with