RE:TCW's Stock Is at January Highslol...
Not trying to be a troll, but can you give me one good reason why Trican would want to get into directional drilling? Zero synergy with what they do today and selling to completely different buyer groups within the same customer base (drilling engineers vs. completions guys). If the logic is only "it's cheap", that's not going to cut it in today's market.
CET is in a bad spot. DD market has been decimated, CET has 2nd rate technology, and competitors with better technology are basically giving it away for free to keep their people working. Schlumberger and Pacesetter in Canada are doing RSS jobs at pricing that's competitive with conventional DD.
A rising tide may lift all boats on this name, but CET has a long road back to relevance and shareholder returns unless Wilks just decides to buy the rest for some reason. I have to think they have better investment opportunities than trying to turn around the 15th largest Directional Drilling company in North America though.
Hope for your sake I'm wrong but I think there are better names out there in the OFS space.