Coates International Ltd. (fka COTE)

[mogman]

I agree to an extent but this article enclosed shows that $ & oil will flow from Trican's consolidation.
There is no direct link indicated but I feel the folks at Trican are a much better solution for funds than a vapor ware equivalent SS. New capital field equipment is needed and can no longer be allowed to 'fail & replace'. A longer equipment life must be bought into and I believe that a few folks at Trican are willing to use the CSRV to get field costs down, be it a 12 cyl nat gas or COTE current diesel. If COTE SP goes lower I simply buy more.

http://insights.globalspec.com/article/4500/canadian-oilfield-service-groups-combine?frmtrk=cr4digest&cid=nl&et_rid=420181381&et_mid=83448920

Energy and Natural Resources
Canadian Oilfield Service Groups Combine

David Wagman
22 March 2017

Trican Well Service Ltd. says it will buy Canyon Services Group Inc. for around C$637 million ($475.9 million) plus C$40 million in debt.

The combination is expected to a western Canadian-based energy services firm that has the asset base, cost structure, and financial capacity to create value for its stakeholders, said Dale Dusterhoft, Trican's president and CEO, in a statement.

The deal represents a 32% premium over the closing price of Canyon shares March 21, 2017.

The combined company will have 675,000 HHP of available fracturing capacity, a footprint of service bases across western Canada, and products and services across cementing, coiled tubing, nitrogen, industrial services, and fluid management.

The companies say that as "supportive economic conditions emerge, the combined company will look to bring a significant volume of currently parked equipment back to work at a low cost."

Both boards of directors have approved the deal, which is expected to close in the second half of 2017.

Based in Calgary, Alberta, Trican provides specialized products, equipment, and services that are used during the exploration and development of oil and gas reserves.

Canyon is an oilfield services company that focuses operations in the Western Canadian Sedimentary Basin with two core business lines: pressure pumping services and fluid management services. Canyon provides pressure pumping services while Canyon's subsidiary, Fraction Energy Services Ltd., provides fluid management services.