Precision History – A North American Success Story


Our Beginnings

1951Precision Drilling incorporated with one medium depth land drilling rig

1958Quickly grows to 13 drilling rigs ranging from 1,500m to 2,500m depth capacity

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Precision’s International Growth and Fleet Modernization

1961 - 1965Begins international operating partnerships in Mexico, Australia, Timor, New Guinea and Sumatra

1965Initiates major modernization and standardization program for its drilling equipment

1964 - 1967Engineers develop the Deep Freeze-Hole drilling technique used in the Saskatchewan potash industry (Turbo-drilling)

1966Suspends international operations to focus on drilling operations in Western Canada

1969Engineers develop a one-piece substructure that can be moved by a single 16-wheel trailer

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Precision Goes Back to Our Roots

1973Precision’s engineers help develop a highly portable rig for the desert of Abu Dhabi

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Precision’s Financial Growth

1988Precision begins trading on the Toronto Stock Exchange under the ticker symbol PD

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Precision’s Innovation, Integration and Horizontal Drilling Growth

1990Manufactures the 9SE Slant Rig (capable of drilling up to 2500m), launching the highly efficient Super Series family of rigs. The first rig in Canada to use Range III drill pipe

1992Resumes international operations

1993Adds camp and catering services to support its rig operations

1996Adds well servicing and completion services to its service lines

1996Enhances the company’s repair and maintenance capabilities with acquisition of Rostel Industries

1996Begins trading on the New York Stock Exchange utilizing the ticker symbol PDS

1997Launches first generation Technical Support Centre in Nisku, Alberta to streamline training, maintenance and manufacturing operations

1997Enhances rig operations by integrating the supply store function with the acquisition of Columbia Oilfield Services

1997Adds oilfield rental equipment to its service lines

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Precision’s U.S. Expansion and Rig Technology

2002Launches Target Zero, a visionary program to eliminate all injuries, occupational illnesses and environmental harm

2006Initiates U.S. drilling operations in Texas in the Barnett Shale with a Super Single Rig

2006Introduces Canada’s first AC drive land rig, the ST-1200, the most technologically advanced, safest, most efficient rig on the market, drilling in the Montney Shale

2006Adds wastewater treatment to its service lines

2007Introduces the AC drive Super Single to the U.S. for operations in the Barnett Shale

2008Acquires Grey Wolf in the U.S., the country’s fourth largest land driller, gaining full geographic coverage of the U.S. market and adding over 100 drilling rigs to Precision’s fleet

2008Launches Toughnecks.com in English and Spanish to bolster recruitment efforts in U.S., Canada and internationally

20097 new build rigs delivered in Canada, 9 new build rigs delivered in the U.S.

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Precision Maximizes Efficiency, Leverages Scale and Invests for Future Growth

2010Introduces tier classification to North American land drilling industry with Tier 1 assets identified as the best suited to drill unconventional wells

2010Launches the AC drive ST-1200 rig in the U.S.

2010Sends Rig 421 and a team to the Atacama Desert in Chile to drill relief wells at the site of the Copiapó mining accident

2011Adds directional drilling to its service lines with the acquisitions of Drake Directional/ Drake MWD (U.S.) and Axis Energy Services (CAN)

2011Launches Technical Support Centre to support U.S. and international operations in Houston, TX. The state-of-the-art learning, maintenance, rig construction facility features a fully functional training rig

2011Launches the AC drive ST-1500 rig in the U.S., drilling in the Permian Basin

2014Launches Drilling Support Centre to support Canadian Operations in Nisku, AB

2010 - 201647 new build rigs delivered in Canada; 64 new build rigs delivered in the U.S. and 28 existing rigs are upgraded

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