CALGARY – Trican Well Service Ltd. has signed a deal to buy Iron Horse Energy Services, a privately owned fracturing and coiled tubing services provider.
Under the deal, the company will pay $77.35 million in cash and 33.76 million Trican common shares making the deal worth about $231 million based on Trican’s share price on Wednesday.
Trican also says it will increase its quarterly base dividend by 10 per cent to 5.5 cents per share from five cents.
The acquisition is expected to close in the second half of 2025.
Trican chief executive Brad Fedora says the deal will increase Trican’s customer base into both conventional and unconventional plays in Alberta and Saskatchewan.
Iron Horse operates primarily in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian Sedimentary Basin.
This report by The Canadian Press was first published July 3, 2025.
Companies in this story: (TSX:TCW)