Trident Exploration  Corp.
photo - landscape photo - mountains photo - stream     
Health, Safety & Environment
Press Releases
Extractive Sector Transparency Measures Act (ESTMA)
Whistleblower Hotline
Contact Us

Press Releases


April 30, 2019
Trident Exploration Corp. Ceases Operations (HTML)
We regret to announce that Trident Exploration Corp. (“Trident”) ceased operations effective today, April 30, 2019. All 33 employees and 61 contractors have been terminated and approximately 4,700 wells are being transitioned to the care of the AER. Trident’s total estimated abandonment and reclamation obligations are approximately $329 million. Behind these obligations, we do not anticipate any recovery for shareholders and unsecured creditors. Likewise, any recovery for secured lenders is highly uncertain.


August 2, 2017
Trident Exploration Corp. Announces New Credit Facilities (HTML)
Trident Exploration Corp. ("Trident" or the "Company") announces that through negotiations with two financial institutions, it has entered into an extendible revolving credit facility ("Revolving Credit Facility") with a capacity of $20 million and a senior secured second lien term loan facility ("Term Loan") for proceeds of $60 million.


March 2, 2017
Trident Exploration Corp Announces Executive Appointments (HTML)
Trident Exploration Corp. (“Trident” or the “Company”) is pleased to announce the appointment of new executives.

All effective March 1st, the Company has appointed its Chief Operating Officer, Chief Financial Officer and Vice President, Land.


December 23, 2016
Trident Exploration Corp Announces Equity Raise And Property Acquisition (HTML)
Trident Exploration Corp. (“Trident” or the “Company”) is pleased to announce that it has closed an equity offering and property acquisition.

In a rights offering that was backstopped by the Company’s major shareholder, Trident issued approximately 59.3 million shares at a price of $0.3793 per share for gross cash proceeds of $22.5 million. The fee for the backstop was paid in shares and represented 5% of the issue or approximately 3.0 million shares. After closing the equity issue, Trident’s issued and outstanding common shares amounts to approximately 208.7 million shares.


September 5, 2016
Trident Exploration Corp Announces New Board of Directors (HTML)
Trident Exploration Corp. (“Trident” or the “Company”) is pleased to announce changes in ownership and introduce its new board of directors. Upon completion of the Company’s recapitalization scheduled for September 6, 2016, certain funds managed by Origami Capital Partners (“Origami”), a registered investment advisor based in Chicago, Illinois with investments of over US$700 million since its inception in 2008, will hold a majority of Trident’s issued and outstanding common shares.


August 27, 2016
Trident Announces Approvals of Recapitalization (HTML)
Trident’s previously announced recapitalization and financing transaction (the “Recapitalization”) described in its management information circular dated as of July 20, 2016 (the “Circular”) has now received approval from Trident’s debtholders, shareholder and from the Alberta Court of Queen’s Bench (the “Court”).


August 19, 2016
Trident Recapitalization Receives Equity Support (HTML)
Pursuant to its recapitalization and financing transaction announced on July 5, 2016 (the “Recapitalization”) and as described further in a management information circular dated as of July 20, 2016, Trident Exploration Corp. (“Trident” or the “Company”) announces that it has received a written consent signed by 99.9% of its parent company shareholders in favour of proceeding with the Recapitalization.


July 5, 2016
Trident Announces Recapitalization (HTML)
Trident Exploration Corp. has entered into a support agreement with the holders of approximately 77% of its $175.0 million 8.25% senior unsecured notes due April 13, 2018 and the holders of rights with respect to the Company’s $22 million aggregate principal amount of its limited recourse debenture dated as of December 10, 2014, to effect a recapitalization and financing transaction.

     Backstop Commitment Letter (Redacted) Executed (PDF)

     Noteholder Support Agreement (Redacted) Executed (PDF)


July 4, 2014
Trident Resources Corp Announces Reorganization, Disposition and Financing (HTML)
Trident Resources Corp. (“Trident”) announces that it has successfully reorganized its Canadian operations and disposed of 10% of those operations for gross proceeds of $107 million. Trident also announces the completion of a $95 million secured debt financing that, coupled with the disposition proceeds was used to repay its existing secured lending facilities in full and for working capital purposes.


February 12, 2014
Trident Exploration Corp. Closes Financings (HTML)
Trident Exploration Corp. ("Trident" or "the Company") announces that it successfully completed financings for up to C$180 million under two secured debt facilities. The financings include a C$36.4 million facility with Alberta Treasury Branches and a US$130 million (C$143.6 million) term loan, maturing October 2017, with Cerberus Business Finance, LLC and TPG Specialty Lending, Inc.



Press Releases
© Trident Limited Partnership | Trident Exploration (Alberta) Corp.         Site maintained by TAC Marketing.