Precision Drilling Corporation ("Precision") (TSX:PD)(NYSE:PDS) is hosting its Analyst and Investor Day today at its Technical Services Center in Houston. Key items that will be discussed at the event are highlighted below and a full presentation of the event can be found on Precision's website.
This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release.
Today's technology discussion is focused on several field-ready technology building blocks: Drilling Equipment Control System, Process Automation Control, Directional Guidance System, High Speed Downhole Data, Optimization and Apps. Beta-style field trials of these technologies are ongoing and Precision is pleased with its progress to date including:
Precision's 2017 Strategic Priorities
At the beginning of the year, Precision published three strategic priorities for 2017:
In Canada, Precision has averaged 30 active rigs quarter-to-date with 21 rigs currently active with six additional rigs temporarily waiting on location for better weather before moving to the next pad. Precision expects current Canadian activity to be at trough levels for the year due to the Canadian market's annual spring break up. In the U.S., Precision currently has 55 active rigs and quarter-to-date average active rig count in the U.S. is 58 rigs. Precision expects to have five additional rigs contracted and activated over the next three weeks. Internationally, activity continues to progress as expected with eight rigs active in the quarter.
Precision is a leading provider of safe and High Performance, High Value services to the oil and gas industry. Precision provides customers with access to an extensive fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, camps, rental equipment, and wastewater treatment units 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".
SOURCE: Precision Drilling Corporation
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