Profile: Precision Drilling Corp (PDS.N)
Precision Drilling Corporation (Precision), incorporated on September 22, 2005, is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
Contract Drilling Services
The Contract Drilling Services segment operates its rigs in Canada, the United States and internationally. As of December 31, 2016, the segment consisted of 255 land drilling rigs, including 135 in Canada, 103 in the United States, five in Mexico, four in Saudi Arabia, five in Kuwait, two in the Kurdistan region of Iraq and one in the country of Georgia; capacity for approximately 70 concurrent directional drilling jobs in Canada and the United States; engineering, manufacturing and repair services, primarily for Precision's operations, and centralized procurement, inventory and distribution of consumable supplies for its global operations. Grey Wolf International (Grey Wolf) is its platform for the international oil and natural gas drilling market. Grey Wolf is exploring opportunities in various international markets. International oilfield service operations involve relatively long sales cycles with bidding periods, contract award periods and rig mobilization periods measured in months. As of December 31, 2016, Grey Wolf entities had five land drilling rigs in Mexico, four in Saudi Arabia, five in Kuwait, two in the Kurdistan region of Iraq, and one in the country of Georgia.
Completion and Production Services
The Completion and Production Services segment provides completion and workover services and ancillary services to oil and natural gas exploration and production companies in Canada and the United States. As of December 31, 2016, the segment consisted of 196 well completion and workover service rigs, including 188 in Canada and eight in the United States; 11 snubbing units in Canada; approximately 2,200 oilfield rental items, including surface storage, small-flow wastewater treatment, power generation, and solids control equipment, primarily in Canada; 132 wellsite accommodation units in Canada; 43 drilling camps and four base camps in Canada, and 10 large-flow wastewater treatment units, 24 pump houses, and eight potable water production units in Canada. In Canada, it offers well completion and workover service rigs, snubbing units, camp and catering services, oilfield surface equipment rental, wellsite accommodations and water system services. Well servicing operations have two functions: completions and workovers.
Precision Drilling Corp
525 8 Ave SW Suite 800
CALGARY AB T2P 1G1
Company Web Links
- UPDATE 2-Precision Drilling posts smaller-than-expected quarterly loss
- CANADA STOCKS-Higher commodity prices lift TSX futures
- Precision Drilling's quarterly loss narrows
- BRIEF-Wave Life Sciences initiates two Phase 1b/2a clinical trials PRECISION-HD1 and PRECISION-HD2 in patients with Huntington’S Disease
- BRIEF-Precision Drilling expects Canadian activity to be at trough levels for the year