Precision

Precision Drilling CEO Calls Deal to Acquire Trinidad a ‘Perfect Fit’

Precision Drilling CEO Calls Deal to Acquire Trinidad a ‘Perfect Fit’

Precision Drilling Corp., Canada’s largest oilfield services operator and third largest U.S. driller, has clinched an agreement to buy Calgary rival Trinidad Drilling Ltd. in a transaction valued at C$1.028 billion ($800,000).

October 5, 2018
Precision Drilling Rehires 2,000-Plus as Canada, Lower 48 Activity Builds

Precision Drilling Rehires 2,000-Plus as Canada, Lower 48 Activity Builds

The comeback continues in North America’s onshore, with Precision Drilling Corp. now running 59 rigs in the United States and 36 in Canada, combined activity that is almost three times higher than last year’s record lows.

April 25, 2017

Precision Adds Rigs, Canadian Workforce in Asset Swap With Essential Energy

Calgary-based operators Precision Drilling Corp. and Essential Energy Services Ltd. have agreed to swap some oilfield service assets, which would expand Precision’s rig operations and workforce in Canada while Essential would add coil tubing and pumping services.

December 14, 2016

Precision Says ‘Virtually All’ Its Customers Thinking About Adding Rigs In 2017

Calgary-based Precision Drilling Corp. is seeing activity pick up across all of its U.S. operating regions, with the Permian Basin in West Texas “getting the most attention,” CEO Kevin Neveu told analysts during a 3Q2016 earnings call.

October 24, 2016

Precision Reports Continuing Bias for U.S. Oil Drilling, More NatGas Focus in Canada

Calgary-based Precision Drilling Corp., whose contract drilling business works in all of North America’s major onshore basins, said Monday it used 14 fewer rigs in the United States and Canada in the first quarter than it did in the final three months of 2015, with more Canadian rigs looking for natural gas.

April 25, 2016

Precision Reports Continuing Bias for U.S. Oil Drilling, More NatGas Focus in Canada

Calgary-based Precision Drilling Corp., whose contract drilling business works in all of North America’s major onshore basins, said Monday it used 14 fewer rigs in the United States and Canada in the first quarter than it did in the final three months of 2015, with more Canadian rigs looking for natural gas.

April 25, 2016

Natural Gas Drilling Activity in Canada’s Deep Basin Higher, But Business Still Slow, Says Precision Drilling

Precision Drilling Corp., Canada’s most active land drilling contractor, is seeing strengthening natural gas and liquids drilling in the Deep Basin, which runs through northwestern Alberta and northeastern British Columbia, but the bias in the United States continues toward oil, the CEO said Thursday.

February 11, 2016
Seneca Resources Shifting Marcellus Rigs to Run on LNG

Seneca Resources Shifting Marcellus Rigs to Run on LNG

In a pair of deals announced Thursday, Seneca Resources Corp., the exploration and production unit of National Fuel Gas Co., laid out plans to continue shifting its Marcellus Shale drilling rigs from diesel fuel to liquefied natural gas (LNG).

October 29, 2012