Precision Drilling Trust Announces Closing of Previously Announced Rights Offering
04 Giugno 2009 - 1:00PM
Marketwired
(Canadian dollars)
Precision Drilling Trust ("Precision" or the "Trust") announces
the successful closing of its previously announced rights offering
(the "Rights Offering"). The maximum number of units available
under the Rights Offering was issued for gross proceeds to
Precision of approximately $103.3 million. The Trust issued
34,441,950 trust units under the offering.
The allocation of unexercised rights is being tabulated by the
Trust's transfer agent and individual investors who subscribed for
additional units will be advised by the transfer agent, or through
their brokerage agent as applicable, once completed in about 5
days.
The proceeds of the Rights Offering will be used to repay the
remaining balance owed on Precision Drilling Corporation's ("PDC")
unsecured credit facility, to reduce PDC's secured credit facility
and for general corporate purposes.
ABOUT PRECISION
The Trust is a leading provider of safe, high performance energy
services to the North American oil and gas industry. The Trust
provides customers with access to an extensive fleet of contract
drilling rigs, service rigs, camps, snubbing units, wastewater
treatment units and rental equipment backed by a comprehensive mix
of technical support services and skilled, experienced
personnel.
The Trust is headquartered in Calgary, Alberta, Canada. The
Trust is listed on the Toronto Stock Exchange under the trading
symbol "PD.UN" and on the New York Stock Exchange under the trading
symbol "PDS".
Contacts: David Wehlmann, Executive Vice President, Investor
Relations Precision Drilling Corporation, Administrator of the
Trust (403) 716-4575 (403) 716-4755 (FAX) Precision Drilling Trust
4200, 150 - 6th Avenue S.W. Calgary, Alberta T2P 3Y7 Website:
www.precisiondrilling.com
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