Total Energy Services Trust

Total Energy Services Trust

July 15, 2005 12:53 ET

Total Energy Services Trust Announces Closing of RIGBOSS Acquisition

CALGARY, ALBERTA--(CCNMatthews - July 15, 2005) - Total Energy Services Trust (TSX:TOT.UN) ("Total") is pleased to announce that Total Oilfield Rentals, a division of Total Energy Services Ltd., has completed the acquisition of the oilfield drilling and production rental equipment and trucking assets of RIGBOSS Rentals Ltd. and Environmental Sump Systems Ltd. (collectively "RIGBOSS Rentals") for $8.73 million cash.

Based in Rocky Mountain House, Alberta, RIGBOSS Rentals has been in business since 1995 and provides quality surface drilling and production rental equipment and oilfield transportation services to oil and natural gas companies operating in the central Alberta foothills region, an area characterized by deeper natural gas drilling and production activity. The purchased assets include approximately 350 pieces of rental equipment and four heavy trucks. With the addition of the RIGBOSS Rentals' assets, the Total Oilfield Rentals division currently owns approximately 2,900 pieces of rental equipment and 49 heavy trucks. Total Oilfield Rentals operates out of ten branch locations throughout northwestern Alberta and northeastern British Columbia.

Total Energy Services Trust is a growth oriented oil and gas service income trust involved in contract drilling services, drilling and production rentals and natural gas compression equipment fabrication, sales, rental and service. The trust units of Total are listed and trade on the TSX under the symbol "TOT.UN".

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Total Energy Services Trust
    Mr. Daniel K. Halyk
    Chief Executive Officer
    (403) 216-3921
    Total Energy Services Trust
    Mr. David A. Hawkins
    Vice-President Finance and Chief Financial Officer
    (403) 216-3920
    (403) 234-8731 (FAX)