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M&A Deal Summary

Trinidad Drilling Acquires RigMinder Operating

On August 28, 2017, Trinidad Drilling acquired information technology company RigMinder Operating for 30M USD

Acquisition Highlights
  • This is Trinidad Drilling’s 1st transaction in the Information Technology sector.
  • This is Trinidad Drilling’s 2nd largest (disclosed) transaction.
  • This is Trinidad Drilling’s 1st transaction in the United States.
  • This is Trinidad Drilling’s 1st transaction in Texas.

M&A Deal Summary
Date 2017-08-28
Target RigMinder Operating
Sector Information Technology
Buyer(s) Trinidad Drilling
Deal Type Add-on Acquisition
Deal Value 30M USD

Target

RigMinder Operating

The Woodlands, Texas, United States
RigMinder Operating LLC is a technology company that provides of products include three distinct revenue platforms: RigMinder Criterion, a directional drilling guidance system with proven ability to optimize trajectory, reduce drilling costs and ultimately improve production for customers; RigMinder electronic data recorder (EDR) which monitors the functionality of the drilling rig operations, capturing near real-time drilling data that can be analyzed remotely to optimize performance; and finally, the ability to independently integrate and operate downhole tools.

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Buyer(S) 1

Buyer

Trinidad Drilling

Calgary, Alberta, Canada
Category Company
Founded 1996
Sector Oil/Gas Exploration
Revenue 502M CAD (2017)
DESCRIPTION

Trinidad Drilling combines high-performance people, equipment and manufacturing to unlock reserves for energy producers in North America and overseas. Trinidad's divisions operate in the drilling and barge-drilling sectors of the North American oil and natural gas industry with operations in Canada and the United States. Trinidad is focused on providing modern, reliable, expertly designed equipment operated by well-trained and experienced personnel. Trinidad's drilling fleet is one of the most adaptable, technologically advanced and competitive in the industry. The company was founded in 1996 and is headquartered in Calgary, Canada.

DEAL STATS #
Overall 2 of 2
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2017 M&A 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-11 CanElson Drilling

Calgary, Alberta, Canada

CanElson Drilling, Inc. engages in operating a land-based contract drilling rigs in Canada, the US and Mexico for oil and natural gas exploration and development companies. CanElson also operates a compressed natural and raw gas transportation related services business.

Buy $505M
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