Trican to acquire Iron Horse Energy Services

On July 3, 2025, Trican Well Service Ltd. ("Trican") announced that it entered into an agreement to acquire Iron Horse Energy Services ("Iron Horse"), a complementary private completions services company.

Under the terms of the share purchase agreement, Trican will acquire all of the issued and outstanding shares of Iron Horse in exchange for approximately C$77.35 million in cash consideration, before closing adjustments, and approximately 33.76 million common shares of Trican.

Closing of the acquisition is expected to take place in the second half of 2025. Other than Competition Act Approval, and TSX listing approval of the common shares of Trican to be issued pursuant to the acquisition, no approval, order, consent of or filing with any governmental authority is required on the part of Iron Horse or Trican, to complete the acquisition.

Following closing of the acquisition, Iron Horse will operate as a wholly owned division of Trican and it is expected that Trican will retain all of the existing management and employees of Iron Horse. Tom Coolen, the current Chairman and CEO of Iron Horse, will be appointed to the board of directors of Trican.

Further information can be found on Newsfile’s website.

Iron Horse is a privately owned fracturing and coiled tubing services provider operating primarily in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian Sedimentary Basin.

Trican supplies oil and natural gas well servicing equipment and solutions to its customers through the drilling, completion and production cycles. Its team of technical experts provide state-of-the-art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada.