Core Viewpoint - Trican Well Service Ltd. has received a No-Action Letter from the Competition Bureau, allowing the acquisition of Iron Horse Energy Services to proceed, which is expected to enhance Trican's growth strategy and service offerings in the Western Canadian Sedimentary Basin [1][3]. Acquisition Details - The acquisition involves Iron Horse shareholders receiving approximately $77.35 million in cash and about 33.76 million common shares of Trican [2]. - The acquisition is anticipated to close on or about August 27, 2025, pending customary closing conditions and TSX listing approval [4]. Strategic Implications - The acquisition aligns with Trican's long-term vision for growth and innovation, aiming to better serve customers and create value for shareholders [3]. - Tom Coolen, the Chairman and CEO of Iron Horse, will join Trican's board of directors following the acquisition [2]. Company Overview - Trican is headquartered in Calgary, Alberta, and provides oil and natural gas well servicing equipment and solutions throughout the drilling, completion, and production cycles [8]. - The company offers a range of services including hydraulic fracturing, cementing, coiled tubing, nitrogen services, and chemical sales for the oil and gas industry in Western Canada [8].

Group 1 - Baker Hughes Company (BKR) has entered into a multi-year framework agreement with Equinor ASA (EQNR) to provide plug and abandonment (P&A) services at the Oseberg East field, with the planning phase already initiated and well abandonment activities expected to commence in 2026 [1][2][9] - The Mature Assets Solutions team at Baker Hughes will manage the planning and execution of the P&A campaign, utilizing advanced technologies and innovative solutions to enhance efficiency and speed in the abandonment process [3][4] - A P&A Center of Excellence will be established in Bergen and Stavanger to centralize operations and ensure the implementation of reliable and cost-effective well abandonment solutions [5][9] Group 2 - Baker Hughes has a strong track record in managing mature oil and gas assets, which positions the company well to execute integrated P&A programs effectively [3] - The company’s well abandonment portfolio includes cutting-edge technologies such as PRIME Powered Mechanical Applications and diagnostic tools like Casing Integrity & Cement Mapping (CICM) [4] - Both Baker Hughes and Equinor currently hold a Zacks Rank 3 (Hold), indicating a neutral outlook in the market [6]