Precision Drilling

Precision Drilling Trust: Precision Drilling Trust Reports 2008 Second Quarter Financial Results

Market Wire - Earnings Reports (Free subscription) | 07/23/2008

CALGARY, ALBERTA (MARKET WIRE) (Canadian dollars)

Precision Drilling to Acquire Service Rigs From Rick's Well Servicing Ltd.

Red Orbit (Free subscription) | 07/22/2008

Precision Drilling Trust is pleased to announce that Precision Drilling Corporation ("Precision") entered into an agreement on July 18, 2008 to acquire six service rigs and related equipment from Rick's Well Servicing Ltd. ("RWS"). RWS is a privately owned company based in Virden, Manitoba. Mr.

Precision Drilling Trust: Precision Drilling to Acquire Service Rigs From Rick's Well Servicing Ltd.

Market Wire (Free subscription) | 07/22/2008

CALGARY, ALBERTA (MARKET WIRE) Precision Drilling Trust is pleased to announce that Precision Drilling Corporation ("Precision") entered into an agreement on July 18, 2008 to acquire six service rigs and related equipment from Rick's Well Servicing Ltd. ("RWS"). RWS is a privately owned company based in Virden, Manitoba. Mr. Rick Mailhiot, President of RWS, has agreed to join the Precision Well Servicing...

Precision Drilling Trust: Precision Drilling Trust Announces July 2008 Distribution

Market Wire (Free subscription) | 07/18/2008

CALGARY, ALBERTA (MARKET WIRE) Precision Drilling Trust ("Precision") announced today that the Board of Trustees has approved a cash distribution for the month of July 2008 of $0.13 per trust unit of Precision. The distribution will be payable on August 15, 2008 to unitholders of record on July 31, 2008. The ex-distribution date is July 29, 2008. Holders of Class B limited partnership units of Precision...

Raymond James Analyst: Will Grey Wolf Accept Precision Drilling's Bid?

Seeking Alpha (Free subscription) | 07/17/2008

FP Trading Desk submits: The decision by Grey Wolf Inc. (GW) investors to reject the company's merger agreement with Basic Energy Services Inc. (BAS) may have re-opened the door to a possible takeover of Grey Wolf by Precision Drilling Trust (PDS), but for Raymond James analyst Andrew Bradford, it's still way too early to call Precision's $10 offer a done deal. In a note to clients, Mr. Bradford said:...

Grey Wolf Shareholders Reject Basic Energy Deal

DealBook (Free subscription) | 07/16/2008

Grey Wolf shareholders voted down the company’s proposed purchase of Basic Energy Services, which could open the door to a possible takeover of Grey Wolf by Canada’s Precision Drilling Trust instead, The Globe and Mail reported. Following the vote, Precision Drilling’s chief executive said his company would resubmit to Grey Wolf a $10-a-share bid, The Globe [...]

Grey Wolf Holders Reject Takeover

Law Blog - WSJ.com (Free subscription) | 07/15/2008

Grey Wolf shareholders voted against a nearly $2 billion takeover offer from Basic Energy Services, ending a heated battle for the natural-gas driller that clears the way for Precision Drilling Trust to return to the table.

Grey Wolf shareholders reject merger plan

Houston Chronicle (Free subscription) | 07/15/2008

Houston-based Grey Wolf shareholders defeated management's plan to buy oil field contractor Basic Energy Services for $1.42 billion, opening the door for an unsolicited $2.19 billion takeover bid for the oil and gas driller from Canada's Precision Drilling Trust.

Precision will make offer if Grey Wolf shareholders reject merger

The Houston Business Journal (Free subscription) | 07/10/2008

Canadian company Precision Drilling Trust intends to re-approach the board of Grey Wolf Inc. with its buyout offer if Grey Wolf shareholders reject a proposed merger with Basic Energy Services Inc.

Grey Wolf delays debt sale

Houston Chronicle (Free subscription) | 07/10/2008

Grey Wolf , the oil and gas driller targeted for takeover by Precision Drilling Trust, postponed a debt sale as two shareholder-advisory firms urged rejection of its planned purchase of Basic Energy Services.

Precision Drilling Trust: Precision Drilling Trust Clarifies Position on Offer for Grey Wolf, Inc.

Market Wire (Free subscription) | 07/09/2008

CALGARY, ALBERTA (MARKET WIRE) In response to inquiries, Precision Drilling Trust ("Precision") clarified today for its unitholders that it will immediately re-approach the board of directors of Grey Wolf, Inc. ("Grey Wolf") with its June 24, 2008 US$10.00 per share proposal if the merger agreement with Basic Energy Services, Inc. ("Basic") is terminated.

Precision Drilling Trust: Precision Drilling Trust 2008 Second Quarter Results Conference Call and Webcast

Market Wire (Free subscription) | 07/07/2008

CALGARY, ALBERTA (MARKET WIRE) Precision Drilling Trust ("Precision") intends to release its 2008 second quarter results at approximately 5:00 a.m. MT (7:00 a.m. ET) on Wednesday, July 23, 2008 and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day.

Grey Wolf Rejects Latest Offer

Law Blog - WSJ.com (Free subscription) | 06/28/2008

Grey Wolf rejected the third acquisition offer by Precision Drilling, saying the proposal isn't superior to its pending merger with Basic Energy Services.

Precision Drilling Trust: Precision Drilling Trust Responds to Determination of Grey Wolf's Board Not to Pursue Discussions

Market Wire - Energy and Utilities: Oil and Gas (Free subscription) | 06/28/2008

CALGARY, ALBERTA (MARKET WIRE) Precision Drilling Trust ("Precision") announced today that it is deeply disappointed that Grey Wolf, Inc. ("Grey Wolf") has rejected Precision's final proposal for a business combination with Grey Wolf at US$10.00 per share and that its Board has concluded that the pursuit of discussions with Precision is not in the best interests of Grey Wolf's shareholders.

• Grey Wolf board rejects Precision Drilling bid - Market Watch
• Grey Wolf Board Rejects Third Unsolicited Offer from Precision Drilling Trust and Reaffirms Commitment to Strategic Merger with Basic Energy Services - Business Wire
• See the 5 articles on the same subject

Grey Wolf rejects third Precision bid

CBC.ca (Free subscription) | 06/27/2008

Drilling company Grey Wolf Inc. of Houston has rejected the third takeover offer from Precision Drilling Trust.