Precision Drilling is one of Canada’s largest contractors for drilling rigs. The company also provides Oilfield rentals, Well services, catering services, and drilling services, along with its various businesses. With new projects in Mexico, Saudi Arabia, Kuwait, and the United Arab Emirates, it also has a growing international presence. Precision Drilling offers highly experienced field workers, specialized machinery and information to provide its clients with quality work on a daily basis. Following are some facts about the company:
Headquarters: Calgary, Alberta
Annual Revenue: 2.3 Billion Canadian Dollars
Number of Employees: More than 9,300
- In 1951, Precision Drilling started with a moderate depth field drilling rig.
- In 1958, it rose to 13 drilling rigs with a range of between 1,500 m and 2,500 m depth capacity.
- In 1965, it initiated a major program to modernize and standardize its drilling equipment and even established partnerships in Mexico, Australia, Timor, New Guinea and Sumatra.
- In 1969, Precision Drilling Ltd. became a part of Precision Drilling Co. Ltd.
- In 1973, the engineers at Precision helped develop a highly portable rig for the desert of Abu Dhabi.
- In 1988, Precision began trading on the Toronto Stock Exchange under the ticker symbol PD.
- In 1990, a drilling rig capable of drilling up to 2,500 meters was designed and constructed by the firm.
- In 1996, it improved the repair and maintenance capability of the business with the purchase of Rostel Industries. In the same year, it bought 12 Well servicing rigs from Gram Well Servicing.
- In 1998, Precision purchased seven platforms from Brinkerhoff Drilling.
- In 1999, Precision obtained Computalog Ltd., which contained MWD facilities, wireline enclosure and open-hole logging. Bought Underbalanced Drilling Systems Ltd.
- In 2000, Precision owned a total of 164 workovers and 10 drilling rigs from CenAlta Energy Services Inc. in Western Canada.
- In 2002, a long-term contract from Canadian Nexen Petroleum Yemen was awarded to Precision Drilling Corporation to provide wireline services to support their Masila Block operations in Yemen.
- In 2005, Precision Drilling Company was selling Weatherford International Ltd, its Power Products and Global Drilling businesses for 26,000,000 Weatherford common shares at $1 CAD.
- In 2008, Precision acquired Grey Wolf in the U.S., the fourth largest land driller in the world.
- In 2010, Precision introduced degree of classification to North American land drilling industry with 1 degree assets identified as the best suited to drill unconventional wells. In the same year, it launched the AC drive ST-1200 rig in the US, and sent Rig 421 & a team to the Atacama desert in Chile to drill relief Wells at the location of the Copiapó mining accident.
- In 2019, the Toronto Stock Exchange delisted Precision Drilling.
Operations and Services:
Highly efficient equipment from Precision is assisted by internal construction, development, production and repair & service programs. Combined internal roles facilitate improved efficiency, lower costs, and enable the company to consistently deliver innovative technology to the market.
- Rig Construction:
Precision maintains control over the rig construction process across Precision’s Nisku facility and the Houston Technical Service Center. Utilizing its processes and size, from product sourcing, production and installation to final commissioning and evaluation, its hybrid design provides cost savings, higher quality and greater consistency while maintaining timely delivery.
- Repair and Maintenance:
A network of service centers strategically located in natural resource basins and field-based technicians, support its centralized repair and maintenance functions at its Tech Centers in Nisku, AB and Houston, TX. Precision Drilling is rehabilitating and restoring machinery and parts by Rostel Industries, offering high-value engineering expertise and products that match their specific needs to consumers.
- PD and Columbia Oilfield Supply:
Columbia Oilfield Supply in Alberta and PD Supply in USA, are the same type of supply warehouses. They purchase, process, and ship large amounts of oilfield consumables. They gain economies of scale by purchasing big lots, standardizing product selection, and arranging distribution to locations on the Precision platform. Columbia Oilfield and PD Supply play a key role in supplying the supply chain management with consistently high-performance and high-valued products.
- International Services:
Grey Wolf International, a name used by Precision Drilling to work outside of North America, is renowned for providing its customers with safe, efficient and reliable drilling services. Employees of the company are skilled and well trained. Robust systems are in use that have been developed, tested and proven over several decades of worldwide operations. Its successful global fleet and exposure to the flexible fleet of more than 230 land drilling rigs by the parent company, allows Precision to drill very deep wells with extended reach (over 30,000 ft.), targeting the most technical challenges in the world. Its international services include:
- Oil and gas drilling
- High pressure, high temperature drilling
- Gas-liquids and heavy oil drilling
- Custom rig configurations and manufacturing
- Completion & Production
- Well Servicing:
Precision’s experienced team and the safe value-added services that the company provides, sets it apart from its competitors in Completion & Production Industry. It is focused on providing high-performance, high-value solutions that meet the needs of its customers. Precision has a proven record of effectively and safely working on various Well forms and initiatives to reduce product costs. Its lines of operations are:
- Horizontal and SAGD completions and workovers
- Well maintenance
- High-pressure and critical sour wells
- Re-entry preparation
- Rig Services:
Precision runs Canada’s largest fleet of servicing rigs, providing a wide range of products that focus on providing its customers with reliable and high-quality services. It has qualified skilled employees which runs machinery in all fields from heavy Oil in SAGD in northeast Alberta to deep essential sour gas activities in the foothills of Alberta.
LINKS TO JOBS AT PRECISION DRILLING