Calgary, AB April 4, 2017 – Resource Merchant Capital (“RMC”), is pleased to announce a follow-on investment of $2.4 million into Twilight Drilling Ltd. (Twilight). Proceeds from the investment were used to partially finance the purchase and refurbishment of a heavy tele-double rig, which the company expects to be operational in April of 2017.
“This further investment reflects our belief in an industry recovery over the coming years and our continued confidence in Twilight’s ability to outperform their peers in the current competitive market by delivering exceptional value to its clients,” said Chad Robinson, Managing Director of RMC. “We believe that Twilight has the team and is building the asset base to become a major player in the WCSB.”
Commenting on the investment, John Rogers, President of Twilight Drilling expressed, “We are very pleased with the strategic and financial support we continue to receive from our equity partners at RMC. Our customers are demanding the best assets along with the most highly qualified people to provide safe and value-driven drilling services. We see an opportunity to enhance our capacity, efficiency and service capabilities by consolidating a number of independent drilling contractors with high specification rigs. We chose to partner with RMC because their financial investment comes with sound strategic advice, hands-on industry experience and a driven team that works closely with us to formulate and execute our strategy.
About Resource Merchant Capital
RMC is an Alberta-based, private merchant capital firm with first-hand oil and gas industry experience in building and operating successful oilfield service companies. RMC partners with technology-focused companies to build world-class businesses that drive significant wealth creation for founders, entrepreneurs, leaders and shareholders.
About Twilight Drilling
Twilight Drilling Ltd., is a privately owned and operated drilling contractor. Twilight is dedicated to efficiency, maintaining zero incidents and leading the market in operational growth. The company is actively building its rig fleet as drilling demand increases in across Western Canada.
For further information:
Managing Director, Resource Merchant Capital