Company Overview

Precision Drilling Corporation is a Canada-based oilfield services company that provides contract drilling, completion, and production-related services to oil and gas exploration and production companies. The company operates primarily within the upstream energy sector, supporting the drilling and development of conventional and unconventional hydrocarbon resources. Its activities are closely tied to commodity price cycles and capital spending by oil and gas producers.

The company’s core revenue drivers are its high-specification drilling rigs and its complementary technology and services offerings that enhance drilling efficiency, safety, and well performance. Precision Drilling is recognized for its focus on technically advanced rigs designed for horizontal and extended-reach drilling, positioning the company as a premium provider in mature and complex resource basins. Founded in 1951 as a small Canadian drilling contractor, the company has evolved through organic growth and acquisitions into one of North America’s largest land drilling contractors, expanding internationally over time.

Business Operations

Precision Drilling operates through two primary business segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment generates the majority of revenue by providing land-based drilling rigs, crews, and related services, with a strong emphasis on Tier-1, pad-capable, and automation-enabled rigs. The Completion and Production Services segment offers rental equipment, well servicing, snubbing, and other ancillary services that support the full life cycle of a well.

Operations are concentrated in Canada and the United States, with additional international drilling activities in select markets. The company controls a fleet of technologically advanced drilling rigs, proprietary drilling optimization software, and digital solutions under its Alpha™ and Precision IQ™ platforms. Precision Drilling also operates through subsidiaries including Precision Drilling Canada Limited Partnership and Precision Drilling Oilfield Services, Inc., which support regional operations and service delivery.

Strategic Position & Investments

The company’s strategy emphasizes capital discipline, high-grading of its rig fleet, and differentiation through technology and automation. Precision Drilling continues to invest in upgrading its Super Series rigs, expanding automation capabilities, and integrating data-driven drilling solutions to improve customer outcomes and reduce environmental impact. These initiatives are intended to secure long-term contracts with large, well-capitalized producers.

Precision Drilling has pursued selective acquisitions and internal investments to strengthen its completion and production services offering and enhance cross-selling opportunities. The company is also involved in emerging areas such as digital drilling optimization, emissions reduction technologies, and operational efficiency tools, aligning its strategy with evolving regulatory and customer expectations around sustainability and performance.

Geographic Footprint

Precision Drilling is headquartered in Calgary, Alberta, and operates primarily across Canada and the United States, which together account for the majority of its revenue and assets. In Canada, the company has a strong presence in the Western Canadian Sedimentary Basin, while in the United States it is active in major shale plays including the Permian, Eagle Ford, and Haynesville.

Internationally, Precision Drilling maintains operations and long-term contracts in Mexico, Saudi Arabia, and other select international markets, providing diversification beyond North America. These international activities typically involve multi-year contracts with national or large independent oil companies, giving the company exposure to global energy development while managing geographic risk.

Leadership & Governance

Precision Drilling is led by an executive team with extensive experience in the oilfield services and energy sectors, emphasizing operational excellence, safety, and disciplined capital allocation. The leadership’s strategic vision centers on maintaining a high-quality asset base, leveraging technology for competitive advantage, and generating sustainable free cash flow across industry cycles.

Key executives include:

• Kevin A. Neveu – President and Chief Executive Officer
• Veronica H. Park – Senior Vice President and Chief Financial Officer
• Jon F. McKenzie – Senior Vice President, U.S. Drilling Operations
• Terri L. McKerricher – Senior Vice President, People and Culture
• Stephen E. Stang – Senior Vice President, Corporate Services and General Counsel