Once a main driver of the community of Carbon, the assets of Bertram Drilling are to be sold off.
Bertram Drilling has operated since 1962, as a diversified drilling company that operated in Canada the US and overseas. However, with the downturn in the resource sector, its parent company is liquidating its assets.
In 2011 Energold Drilling Corp purchased Bertram International Corporation. At the time it had an inventory of 119 rigs. It acquired the outstanding shares for $15 million and assumed long term debt and lease obligations of about $3 million.
Trouble was looming for Energold and in August it announced it would not be filing its interim financial statement and three directors resigned.
On September 16 it announced that substantially all the assets of Bertram Drillings be sold to Century Services Corporation pursuant to an asset disposition proposal.
“…it is expected Energold will wind-down all operations and business of Bertram Drilling Corp. Other than Bertram Drilling Corp. it is expected all operations of Energold, the Canadian Companies, and Energold's non-Canadian operating subsidiaries will continue uninterrupted in the ordinary course of business,” stated an Energold press release.
Carbon Mayor Bryan Peever says it is a big blow of the community.
“A number of people worked there and of course they give us a tax base,” said Peever. “They have been a great partner in town. They have always done good things for the town,” he said of Bertram Drilling.
The sell-off has already begun. The sale is listed on Century Services’ online site Club Bid, with lots in Carbon and Fort Saskatchewan. Bidding opened on October 3 and is to close on October 30.
