According to the new report CEO Brent Conway stated "selling is a better option because the funds can be used for its capital program or to repay debt.

"[5] A strategic review process that began in late 2017, a procedure to court potential buyers looking for a "white knight" to reportedly maximize value for shareholders, was not fruitful.

In August 2018 the company was tendered a formal unsolicited offer, that is considered a hostile takeover bid, by Ensign Energy Services.

A turn of events started with the director of Trinidad Drilling purchasing shares of the company in August 2018 that happened during a strategic review process looking for buyers.

[9] The Board of Directors has recommended shareholders reject the Ensign offer because it undervalues the company with a low balling bid.

A Raymond James analyst, Andrew Bradford, noted that Ensign could sweeten the deal, also agreeing to pay the break fee, or walk away.