NYSE: PDS 3.41 ( +0.04 ) +1.19% Volume: 2,481,568 February 16, 2018
TSX: PD 4.30 ( +0.08 ) +1.9% Volume: 3,116,817 February 16, 2018

, Michael R. Culbert(1)(2) , , Independent Director

Michael Culbert is the Vice Chairman of Progress Energy Canada Ltd., he had served as President and CEO of Progress Energy since 2004, and was appointed Vice Chairman in 2016. As President of Pacific NorthWest LNG, from 2014 to 2016, Mr. Culbert led an international consortium through a successful regulatory and consultation process with the LNG project receiving its environmental certificates and approval from numerous First Nation bands and the Canadian government.

Prior to joining Progress Energy in 2001, Mr. Culbert served as Vice President of Marketing and Business Development at Encal Energy Ltd. from 1995 to 2001. From 1979 to 1995 Mr. Culbert worked in various positions at Home Oil Company Ltd. with increasing responsibility.

Mr. Culbert holds a Bachelor of Science degree in Business Administration and has more than thirty years of diverse experience in the energy industry. Mr. Culbert served as a member of the Canadian Association of Petroleum Producer’s Board of Governors until 2016 and currently serves as a Director of Progress Energy, Enerplus Corporation and Reserve Royalty.

Mr. Culbert’s leadership continues through his philanthropic endeavors in the community with his involvement with the United Way and as a member of the Shaw Charity Classic Patrons group.

, WILLIAM T. DONOVAN(1)(3) , , Independent Director

William Donovan (64) is a private equity investor and a director of several private companies in the United States, the United Kingdom and Russia. Mr. Donovan was chairman of Rockland Industrial Holdings, LLC, a privately-held Wisconsin entity engaged in the manufacturing of wood flooring products for the truck trailer and domestic container industries, from April 2006 to December 2013.

Mr. Donovan was a director of Grey Wolf, Inc. from June 1997 to December 2008, prior to its acquisition by Precision Drilling Trust and his subsequent appointment as a director of Precision in December 2008. From 1997 to 2005, he served as President, Chief Executive Officer and a director of Total Logistics, Inc., a Wisconsin corporation engaged in various operating and investment activities.

Mr. Donovan previously served as President, Chief Financial Officer and a director of Christiana Companies, Inc. and Prideco Inc. prior to their merger with Weatherford International, Inc. in 1999. From 1980 to 1998, he was a Principal and Managing Director of Lubar & Co., a private investment and venture capital firm. Prior to joining Lubar & Co., Mr. Donovan was an officer with Manufacturers Hanover Trust Company from 1976 to 1980, where he specialized in merger and acquisition financing.

Mr. Donovan received a B.Sc. and an MBA from the University of Notre Dame.

, BRIAN J. GIBSON(1)(3) , , Independent Director

Brian Gibson (60) is currently Chief Executive Officer and Chief Investment Officer of TAVANI Relationship Investors Ltd., an investment management firm, since August 2015. He was the Senior Vice President, Public Equities and Hedge Funds of Alberta Investment Management Corp. (AIMCo) from December 2008 until his retirement in May 2012. Previously, he served as President of Panoply Capital Asset Management Inc., a private investment firm, and as Senior Vice President, Equities of the Ontario Teachers’ Pension Plan. He serves on the advisory board of Kruger Inc., a private entity, and is a director of Duff & Phelps, a global valuation and corporate finance advisory firm. He is a former director of MacDonald, Dettwiler and Associates Ltd., Viterra Inc., and Westaim Corporation.

During his 36-year career, Mr. Gibson has been responsible for the management of various large equity investment portfolios, including those of insurance companies, a chartered bank, pension and mutual funds, and endowments. He has particular expertise in relationship investing and in corporate finance.

Mr. Gibson received a B.Comm. from Laurentian University and an MBA from the University of Toronto and is a Chartered Financial Analyst. He is a graduate of the Directors’ Education Program sponsored by the Institute of Corporate Directors.

, ALLEN R. HAGERMAN(1)(2) , , Independent Director

Allen Hagerman (64) is a private investor and corporate director with over 30 years of experience in the financial management of companies across the energy and mining industries. He served as Executive Vice President of Canadian Oil Sands Limited, an oil sands mining and upgrading entity, from 2008 until his retirement in 2014. He was previously Chief Financial Officer of Canadian Oil Sands Limited from June 2003 to April 2007. Prior thereto, he held senior positions at Fording Canadian Coal Trust, Fording Inc., Hudson’s Bay Oil and Gas, Home Oil Company Limited and InterHome Energy Inc.

Mr. Hagerman is chairman of the board of TransAlta Renewables Inc. He is a member of the Financial Executives Institute and a past President of Financial Executives Institute, Calgary Chapter, as well as a past chair of the Alberta Children’s Hospital Foundation. Previous board positions include Capital Power Income LP where he was lead director, Mongolia Minerals Corporation, Syncrude Canada Ltd., Calgary Exhibition and Stampede, and the University of Calgary. He is a Fellow of the Institute of Chartered Accountants of Alberta and recipient of its Distinguished Service Award.

Mr. Hagerman received a B.Comm. from the University of Alberta and an MBA from Harvard Business School. Mr. Hagerman is a graduate of the Directors’ Education Program sponsored by the Institute of Corporate Directors.

, CATHERINE HUGHES(2)(3) , , Independent Director

Catherine Hughes (53) is an independent business person with over 27 years of experience in the oil and gas industry. Most recently, she was the Executive Vice President, International of Nexen Inc. from December 2011 until her retirement in April 2013. In this role, she was responsible for all production, development and project activities outside of Canada and global exploration. She was also Vice President, Operational Services, Technology and Human Resources of Nexen from September 2009 to November 2011. Prior to joining Nexen, she was Vice President, Oil Sands of Husky Energy Inc. from November 2007 to January 2009.

Ms. Hughes also worked in the oilfield services industry prior to her roles in the upstream sector. She spent many years with Schlumberger Limited and held key positions in various countries, including Italy, Nigeria, Scotland and France, and was President of Schlumberger Canada Ltd. for five years, based in Calgary.

Ms. Hughes is a Professional Engineer, as designated by the Association of Professional Engineers and Geoscientists of Alberta (APEGA). She received a B.Sc. in electrical engineering from the Institut National des Sciences Appliquées de Lyon, France.

She has received a number of awards during her career, including the Key Women in Energy Americas award, the Key Women in Energy Global award and the Consumer’s Choice Business Woman of the Year Award.

, STEPHEN J.J. LETWIN(2)(3) , , Independent Director

Stephen Letwin (60) is currently President and Chief Executive Officer and a director of IAMGOLD Corporation, a leading Canadian mid-tier gold mining company, producing approximately one million ounces annually, from five gold mines on three continents.

Mr. Letwin was a senior executive with Enbridge Inc. from 1999 to 2010, including Executive Vice President of Gas Transportation and International with responsibility for natural gas operations, a gas distribution company and its international business unit. Before joining Enbridge, he served as President and Chief Operating Officer of TransCanada Energy and was Chief Financial Officer, TransCanada Pipelines Limited, Numac (Westcoast Energy), and Encor Energy.

Mr. Letwin is also a director and chairman of OnEnergy Inc. Previous board positions include serving as a director of Carmen Energy Inc., Enbridge Energy Company, Inc. and Gas Metropolitan LP.

Mr. Letwin has actively demonstrated his commitment to voluntary leadership throughout his career. He serves as a Patron of UNICEF Alberta, was a former director of YMCA Calgary, served on the board of governors of McMaster University, is an honorary director of West Park Hospital in Toronto, and was an Honorary Colonel for the 14th Service Battalion in Calgary. He was awarded the 2006 Alberta Centennial Medal and in 2013 was awarded the Queen’s Jubilee Medal for his commitment to the community.

Mr. Letwin received a B.Sc. (Honors) from McMaster University and an MBA from the University of Windsor. He is a Certified General Accountant and attended the Advanced Management Program at Harvard Business School.

, Susan M MacKenzie(2)(3) , , Independent Director

Sue is a corporate director with over 30 years of energy sector experience.

Most recently Sue was Chief Operating Officer at Oilsands Quest Inc. Prior to that, Sue spent twelve years at Petro-Canada in progressive technical, operational and strategic roles, including Vice President Human Resources and Vice-President In Situ Oilsands Development and Operations. Her industry experience also includes 14 years with Amoco Canada in a variety of engineering and leadership roles in natural gas, conventional oil and heavy oil exploitation.

Sue holds a B. Eng (Mech) from McGill University, an MBA from the University of Calgary, is a Life Member of the Association of Professional Engineers and Geoscientists of Alberta and an Institute of Corporate Directors- certified director.

She is currently a director of Enerplus Corporation, TransGlobe Energy Corporation, Freehold Royalties Ltd and FortisAlberta Inc. She also serves on the advisory board of Optimum Talent Inc. She is a past director of the Calgary Women’s Emergency Shelter and Safe Haven Foundation as well as numerous for-profit, not-for-profit, private and academic advisory boards.

, DR. , KEVIN MEYERS(2)(3) , , Independent Director

Kevin Meyers (62) is an independent energy consultant and corporate director. He currently serves on the boards of Bill Barrett Corporation, Denbury Resources Inc., Hess Corporation, and Hornbeck Offshore Services, Inc.

Dr. Meyers has over 35 years of experience in the energy industry, having retired from ConocoPhillips at the end of 2010. For the 10 years prior to his retirement, he was a senior executive of ConocoPhillips, most recently as Senior Vice President Exploration and Production, Americas. Before that, he was President of ConocoPhillips Canada, President of ConocoPhillips Russia and Caspian and President of ConocoPhillips Alaska. While in Russia from 2004 to 2006, Dr. Meyers served on the board of LUKOIL and was the lead resident executive of the COP/LUKOIL strategic alliance.

Prior to joining ConocoPhillips in 2002, he served in engineering, technical and executive positions with ARCO, last serving as President of ARCO Alaska.

Dr. Meyers has served on several boards, including the board of regents of the University of Alaska and the Nature Conservancy of Alaska.

Dr. Meyers received a B.A. in chemistry and mathematics from Capital University and a Ph.D. in chemical engineering from the Massachusetts Institute of Technology.

, Steven Krablin(1)(2)(3) , , Independent Director & Chairman of The Board

Steven Krablin (65) is a private investor and has over 30 years of experience as a corporate executive in the energy industry. Most recently, he served as President, Chief Executive Officer and Chairman of the Board of T-3 Energy Services, Inc., an oilfield services company that manufactured products used in the drilling, production and transportation of oil and gas, from March 2009 until January 2011.

Mr. Krablin is an experienced financial and operational leader with a broad understanding of business globally. He has also served as Chief Financial Officer of oil and gas service and manufacturing companies, including National Oilwell, Inc. and Enterra Corporation.

Mr. Krablin is currently a director of Hornbeck Offshore Services, Inc., Chart Industries Inc., and Penn Virginia Corporation.

Mr. Krablin received a BSBA (Accounting major) from the University of Arkansas and is a retired certified public accountant (CPA).

, KEVIN A. NEVEU , , Director, President & CEO

Kevin A. Neveu is President and Chief Executive Officer and a Director of Precision Drilling Corporation and has held these positions since joining the company in 2007.

Mr. Neveu has 36 years of experience in the oilfield services sector holding technical, marketing, management and senior leadership positions over his career. Previously, Mr. Neveu was President of the Rig Solutions Group of National Oilwell Varco, Houston and held senior management positions with it and its predecessor companies in London, Moscow, Houston, Edmonton and Calgary.

Mr. Neveu currently serves as a Director Finning International and is a former board member of Bonanza Creek Energy and Rig Net. He is also a member of the Advisory Board for The Heart and Stroke Foundation of Alberta, and an Advisor for the University of Calgary's School of Public Policy. Kevin is a past Vice Chairman of the Executive Committee for the International Association of Drilling Contractors.

Mr. Neveu holds a Bachelor of Science degree and is a graduate of the Faculty of Engineering at the University of Alberta and is a registered Professional Engineer in the province of Alberta. He has also completed the Harvard Advanced Management Program in Boston, Massachusetts.

(1) Audit Committee Member
(2) Human Resources and Compensation Committee Member
(3) Corporate Governance, Nominating and Risk Committee Member


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