OverviewSuggest Edit

Precision Drilling is a provider of onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas industry. It operates in two segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes land drilling rigs, directional drilling services, engineering, manufacturing and repair services, as well as centralized procurement, inventory and distribution of consumable supplies for its global operations. The Completion and Production Services segment provides completion, workover, abandonment, and re-entry preparation services, as well as snubbing units for pressure control services and equipment rentals.

TypePublic
Founded1951
HQCalgary, CA
Websiteprecisiondrilling.com
Employee Ratings3.3

Latest Updates

Employees (est.) (Dec 2019)4,496(-17%)
Job Openings23
Revenue (FY, 2019)C$1.5 B
Share Price (Oct 2020)C$0.9 (-3%)
Cybersecurity ratingBMore

Key People/Management at Precision Drilling

Kevin A. Neveu

Kevin A. Neveu

President and Chief Executive Officer
Carey T. Ford

Carey T. Ford

Senior Vice President and Chief Financial Officer
Shuja Goraya

Shuja Goraya

Chief Technology Officer
Gene Stahl

Gene Stahl

Chief Marketing Officer
Darren Ruhr

Darren Ruhr

Chief Administrative Officer
Veronica H. Foley

Veronica H. Foley

Senior Vice President, General Counsel and Chief Compliance Officer
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Precision Drilling Office Locations

Precision Drilling has offices in Calgary and Houston
Calgary, CA (HQ)
525 8 Ave SW #800
Houston, US
10350 Richmond Ave #700
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Precision Drilling Financials and Metrics

Precision Drilling Revenue

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Precision Drilling's revenue was reported to be C$1.54 b in FY, 2019
CAD

Revenue (Q1, 2020)

379.5m

Gross profit (Q1, 2020)

131.3m

Gross profit margin (Q1, 2020), %

34.6%

Net income (Q1, 2020)

(5.3m)

EBIT (Q1, 2020)

22.6m

Market capitalization (21-Oct-2020)

255.0m

Closing stock price (21-Oct-2020)

0.9

Cash (31-Mar-2020)

97.0m

EV

2.1b
Precision Drilling's current market capitalization is C$255 m.
Annual
CADFY, 2017FY, 2018FY, 2019

Revenue

1.3b1.5b1.5b

Revenue growth, %

17%0%

Cost of goods sold

926.2m1.1b1.0b

Gross profit

395.1m473.3m502.4m
Quarterly
CADQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

345.8m275.5m314.5m401.0m330.7m382.5m434.0m359.4m375.6m379.5m

Cost of goods sold

236.2m199.0m218.9m274.6m236.5m271.6m288.6m252.0m256.6m248.2m

Gross profit

109.6m76.5m95.6m126.4m94.2m110.9m145.4m107.4m119.0m131.3m

Gross profit Margin, %

32%28%30%32%28%29%34%30%32%35%
Annual
CADFY, 2017FY, 2018FY, 2019

Cash

65.1m96.6m74.7m

Accounts Receivable

322.6m372.3m310.2m

Inventories

24.6m34.1m31.7m

Current Assets

441.7m522.7m417.8m
Annual
CADFY, 2017FY, 2018FY, 2019

Net Income

(132.0m)(294.3m)6.6m

Depreciation and Amortization

377.7m365.7m333.6m

Cash From Operating Activities

116.6m293.3m288.2m

Purchases of PP&E

(74.8m)(114.6m)(159.9m)
Quarterly
CADQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Net Income

(22.6m)(57.7m)(85.0m)(18.1m)(65.3m)(95.9m)25.0m11.2m7.7m(5.3m)

Depreciation and Amortization

97.2m193.0m283.5m87.3m175.9m266.6m86.8m170.1m252.7m82.9m

Cash From Operating Activities

33.8m36.5m93.3m38.2m167.9m199.8m40.6m146.6m213.2m75.0m

Purchases of PP&E

(22.1m)(50.5m)(73.0m)(22.3m)(56.6m)(85.0m)(71.0m)(114.4m)(138.3m)(11.5m)
CADQ1, 2017

Financial Leverage

2.2 x
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Precision Drilling Operating Metrics

FY, 2017FY, 2018FY, 2019

Drilling Rigs

256 236 227

Drilling Rigs (Canada)

109

Drilling Rigs (U.S.)

105

Drilling Rigs (International)

13
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Precision Drilling Acquisitions / Subsidiaries

Company NameDateDeal Size
Grey Wolf Drilling LimitedDecember 24, 2008
Grey Wolf Drilling (Barbados) Ltd.
Precision Completion & Production Services Ltd.
Precision Directional Services
Precision Directional Services Ltd.
Precision Diversified Oilfield Services Corp
Precision Diversified Oilfield Services Corp
Precision Drilling Canada Limited Partnership
Precision Drilling Company LP
Precision Drilling Holdings Company
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Precision Drilling Cybersecurity Score

Cybersecurity ratingPremium dataset

B

89/100

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Precision Drilling Revenue Breakdown

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Precision Drilling revenue breakdown by business segment: 90.4% from Contract Drilling Services and 9.6% from Completion and Production Services

Precision Drilling revenue breakdown by geographic segment: 29.8% from Canada, 56.6% from United States and 13.6% from International

Precision Drilling Online and Social Media Presence

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Precision Drilling News and Updates

Precision Drilling Corporation 2020 Third Quarter Results Conference Call and Webcast

CALGARY, Alberta, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2020 third quarter results before the market opens on Thursday, October 22, 2020 and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET)…

Precision Drilling Corporation Announces 2020 Second Quarter Unaudited Financial Results

CALGARY, Alberta, July 23, 2020 (GLOBE NEWSWIRE) -- 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 “Ca…

Precision Drilling Corporation Announces Filing of Annual Disclosure Documents

CALGARY, Alberta, March 09, 2020 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) announced that it has filed its annual disclosure documents with the securities commissions in each of the provinces of Canada and the United States Securities and Exchange Commission (“SEC”).

Precision Drilling Corporation Announces 2019 Fourth Quarter and Year End Unaudited Financial Results

CALGARY, Alberta, Feb. 13, 2020 (GLOBE NEWSWIRE) -- (Canadian dollars except as indicated)

Precision Drilling Corporation Announces 2019 Third Quarter Unaudited Financial Results

CALGARY, Alberta, Oct. 24, 2019 (GLOBE NEWSWIRE) -- (Canadian dollars except as indicated)

Precision Drilling Corporation Announces Organizational Changes

CALGARY, Alberta, July 03, 2019 (GLOBE NEWSWIRE) -- Doug Evasiuk, Senior Vice President, Sales & Marketing and Officer of the company, retired at the end of June, capping a successful 26-year career with Precision Drilling.  Kevin Neveu, President and CEO commented, “Doug has been an integral …

Precision Drilling Frequently Asked Questions

  • When was Precision Drilling founded?

    Precision Drilling was founded in 1951.

  • Who are Precision Drilling key executives?

    Precision Drilling's key executives are Kevin A. Neveu, Carey T. Ford and Shuja Goraya.

  • How many employees does Precision Drilling have?

    Precision Drilling has 4,496 employees.

  • What is Precision Drilling revenue?

    Latest Precision Drilling annual revenue is C$1.5 b.

  • What is Precision Drilling revenue per employee?

    Latest Precision Drilling revenue per employee is C$342.8 k.

  • Who are Precision Drilling competitors?

    Competitors of Precision Drilling include Nabors, Diamond Offshore Drilling and Noble.

  • Where is Precision Drilling headquarters?

    Precision Drilling headquarters is located at 525 8 Ave SW #800, Calgary.

  • Where are Precision Drilling offices?

    Precision Drilling has offices in Calgary and Houston.

  • How many offices does Precision Drilling have?

    Precision Drilling has 2 offices.