Precision Drilling Corporation Announces the Acquisition of Two Directional Drilling Companies
29 März 2011 - 1:00PM
Marketwired
Precision Drilling Corporation (TSX: PD) (NYSE: PDS) ("Precision"
or the "Corporation") announced today the closing of the
acquisition of Drake Directional Drilling, LLC and Drake MWD
Services, LLC. These companies provide directional drilling
services in Texas, Louisiana, Oklahoma and Colorado and typically
operate 10 - 14 directional drilling jobs, on a continuing basis.
The companies have been in business for four years and have
operating facilities in the Houston, Texas area.
"One of our stated priorities for 2011 is to build our
directional drilling experience and presence in North America",
stated Kevin Neveu, President and Chief Executive Officer of
Precision. "These acquisitions along with our organic growth in
directional drilling are further steps in meeting that priority. We
are pleased that the principals and employees of these two
outstanding companies are joining the Precision team."
About Precision
Precision is a leading provider of safe and High Performance,
High Value services to the North American oil and gas industry.
Precision provides customers with access to an extensive fleet of
contract drilling rigs, service rigs, camps, snubbing units, water
treatment units and rental equipment backed by a comprehensive mix
of technical support services and skilled, experienced
personnel.
Precision is headquartered in Calgary, Alberta, Canada.
Precision is listed on the Toronto Stock Exchange under the trading
symbol "PD" and on the New York Stock Exchange under the trading
symbol "PDS".
Contacts: Precision Drilling Corporation David Wehlmann
Executive Vice President, Investor Relations 403.716.4575
403.716.4755 (FAX) Precision Drilling Corporation 4200, 150 - 6th
Avenue S.W. Calgary, Alberta, Canada T2P 3Y7
www.precisiondrilling.com
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