Conditions for Using this Site
Certain statements contained in this website, and the documents included herein, including statements related to future crude oil and natural gas prices, estimated capital expenditures, equipment utilization levels, pricing competition in the North American drilling industry, future natural gas supply growth, drilling activity in Canada and the United States, expansion in the United States and internationally, projected growth of the Completion and Production Services and the Contract Drilling Services segments and statements that contain words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may" and similar expressions and statements relating to matters that are not historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward-looking information and statements"). These statements include, but are not limited to projections of future drilling rig inventories and plans therefor; projected growth rates capable of being sustained from Precision's asset base in the future; statements as to seasonal and weather conditions affecting the Canadian oil and natural gas industry and the demand for Precision's services.
These statements are based on certain assumptions and analysis made by the Corporation in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to the Corporation’s expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from the Corporation’s expectations. Such risks and uncertainties include, but are not limited to: fluctuations in the price and demand for oil and natural gas; fluctuations in the level of oil and natural gas exploration and development activities; fluctuations in the demand for well servicing, contract drilling and ancillary oilfield services; the effects of weather conditions on operations and facilities; the existence of competitive operating risks inherent in well servicing, contract drilling and ancillary oilfield services; general economic, market or business conditions; changes in laws or regulations; actions by governmental authorities that increase taxes or royalties, changes in environmental, currency and other laws and regulations; renegotiations of contracts; results of litigation, arbitration or regulatory proceedings; increase in tax liability as a result of previous transactions; lack of access to additional financing; the effect of customer merger and acquisition activity; the lack of availability of qualified personnel or management; and other unforeseen conditions which could impact the use of services supplied by Precision.
Consequently, all of the forward-looking information and statements made in this website are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Corporation will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Corporation or its business or operations. Readers should review Precision's current Annual Report and Annual Information Form for further discussion of risk factors.
Except as may be required by law, the Corporation assumes no obligation to update publicly any forward-looking information and statements, whether as a result of new information, future events, or otherwise. The Corporation updates the information on this web site regularly. It cannot guarantee, however, the accuracy, currency or completeness thereof and any use of such information on this web site is at the user's risk.