Stampede Drilling
Stampede Drilling Inc. is a Calgary-based, TSX Venture-listed (SDI) contract drilling services company operating a 17-rig fleet of telescopic double and high-spec rigs for oil and gas E&P customers across the Western Canadian Sedimentary Basin, with a 2026 expansion into Arctic exploration via Rig #12 in Greenland.
- Company typePublic
- Founded2017
- HeadquartersCalgary, Canada
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Stampede Drilling does
Stampede Drilling Inc. is a Calgary-based, TSX Venture-listed (ticker SDI) energy services company that provides day-rate contract drilling services to oil and gas exploration and production operators, primarily in the Western Canadian Sedimentary Basin. The company traces its origins to a 2017 acquisition of Stampede Drilling Ltd. by MATRRIX Energy Technologies Inc., which was rebranded Stampede Drilling Inc. in May 2019; it has since 251–500 employees and is led by President & CEO Lyle Whitmarsh.
The operating platform centers on a fleet of 17 marketable telescopic double drilling rigs suited to WCSB formations (hookload capacities 155,000–204,000 DAN; 7,500 psi circulation systems; 1,300–1,600 hp pumps), augmented by a high-spec triple rig acquired in August 2022 and Arctic-equipped Rig #12. Service delivery is anchored at the Calgary head office and two regional operations bases in Nisku, Alberta and Estevan, Saskatchewan, covering the heart of the WCSB and the Williston Basin.
Revenue is generated predominantly on a per-operating-day basis, with rates typically of $25,000–$28,000 CAD, supplemented by occasional one-time equipment sales. The model is structurally cyclical: 2021 revenue of $32.16M CAD expanded to $85.96M in 2023 (record) before contracting to $71.4M in 2025 on a 10% decline in operating days. Capital structure combines a 2022 $26.6M CAD equity issuance, a $50M CAD syndicated credit facility with HSBC and TD (extended to September 2028), and an active NCIB that has retired roughly 12% of outstanding shares. The customer mix is concentrated in intermediate and major WCSB producers, with a strategic 2026 expansion into East Greenland via a five-year Rig #12 contract with Greenland Energy.
Stampede Drilling firmographics
Firmographics- Name
- Stampede Drilling
- Legal name
- Stampede Drilling Inc.
- Website
- https://stampededrilling.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Stampede Drilling Inc. is a Calgary-based, TSX Venture-listed (SDI) contract drilling services company operating a 17-rig fleet of telescopic double and high-spec rigs for oil and gas E&P customers across the Western Canadian Sedimentary Basin, with a 2026 expansion into Arctic exploration via Rig #12 in Greenland.
- Ownership category
- akta.pro rank
Stampede Drilling industry classification
Industry- Product category
- Land-Based Contract Drilling Services
- NAICS
- Drilling Oil and Gas Wells (213111)
- SIC
- Drilling Oil & Gas Wells (1381), Oil & Gas Field Machinery & Equipment (3533)
- akta.pro primary industry
- Drilling & Well Construction (E&P Operator-led) (EUALAAAD)
- akta.pro secondary industry
- Drilling Rigs & Drill Systems (IMAHAMAA)
Keywords
Where Stampede Drilling is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Stampede Drilling business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Others
Revenue model
- Contract Drilling Services: Day-rate based contract drilling services provided to oil and gas exploration and production companies. Revenue generated based on operating days from spud to rig release, with rates influenced by customer demand, field labour costs, and market conditions. Revenue per day typically ranges from $25-28 thousand CAD.
- Equipment Sales: Sale of drilling equipment and components, such as the sale of drilling components from A/C triple drilling rig to a private company for approximately $5.29 million. Represents occasional non-recurring revenue from asset optimization.
- Drilling Rig Utilization: Revenue generated through deployment of drilling rigs to customers, with 2025 showing Q4 revenue of $21.3 million and full year 2025 revenue of $71.4 million. Utilization rates and operating days drive revenue variability.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Multi-year contract | Contract drilling services with day-rate pricing |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels6 records
Stampede Drilling product offering
Product offeringCore offering
Stampede Drilling provides premier contract drilling services to oil and gas exploration and production companies in Western Canada using a fleet of 17 marketable telescopic double drilling rigs suited for formations within the Western Canadian Sedimentary Basin. The company also deploys an Arctic-equipped Rig #12 for frontier exploration projects, including a five-year strategic drilling agreement for Greenland's Jameson Land Basin. Revenue is generated through day-rate pricing for operating days from spud to rig release, typically ranging from $25,000 to $28,000 CAD per day.
Product overview
Stampede Drilling is an energy services company that provides premier contract drilling services in Western Canada through its fleet of 17 marketable telescopic double drilling rigs. The company operates Rig #12, an Arctic-equipped unit, which was deployed through a five-year strategic drilling agreement with Greenland Energy for exploration in Greenland's Jameson Land Basin. The core offering consists of contract drilling services leveraging telescopic double rigs suited for the Western Canadian Sedimentary Basin formations.
Differentiator
Problem solved
Functional benefit
Products and services
- Contract Drilling Services Premier contract drilling services providing safe, efficient, and high-value drilling operations for oil and gas exploration and production companies in Western Canada, using day-rate contracts covering operating days from spud to rig release.
- Telescopic Double Drilling Rig Fleet Fleet of 17 marketable telescopic double drilling rigs suited for most formations within the Western Canadian Sedimentary Basin, with specifications including hookload capacity ranging from 155,000 to 204,000 DAN, 1,300-1,600hp pump configurations, and 5,000-7,500 psi circulation systems.
- Rig #12 (Arctic-Equipped Drilling Rig) Arctic-equipped drilling rig designed for frontier exploration drilling in extreme conditions; deployed under a five-year strategic drilling agreement with Greenland Energy to drill up to two boreholes of 3,500m each in Greenland's Jameson Land Basin. Rig specifications include 1,000hp and 1,300hp top drive systems for deep drilling operations.
Quantifiable outcome
- Q4 2025 utilization rate of 51% exceeded CAOEC industry average of 44%
- +2 more outcomes
Companies that use Stampede Drilling
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Stampede Drilling technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Stampede Drilling partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered strategic, core and supporting.
- HalliburtonstrategicConsulting and logistics support agreement with Greenland Energy for onshore exploration campaign in Jameson Land Basin. Covers equipment planning, coordination, transport, and well and drilling services. Stampede Drilling also engaged in this Greenland project.
- Greenland EnergycoreFive-year strategic drilling agreement for Jameson Land Basin exploration in East Greenland. Stampede to provide Arctic-equipped Rig #12 and technical personnel to drill up to two wells of 3,500m each. Greenland Energy fully funds the programme and retains 70% interest upon completion while 80 Mile holds 30% stake. Drilling targeted for second half of 2026.
- IPT Well SolutionssupportingOperational partner in Greenland Energy's Jameson Land Basin exploration program alongside Stampede Drilling and Halliburton.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Stampede Drilling competitors and assessment
Company assessmentBroad incumbents
- Patterson-UTI Energy: Major North American land drilling and pressure pumping contractor. Operates U.S.-focused land drilling fleet with similar day-rate contract model; competes indirectly for capital and large E&P customer relationships.
- Helmerich & Payne: Largest U.S. land drilling contractor with global operations. Broad incumbent in land drilling services with FlexRig technology; while primarily U.S.-focused, competes indirectly for talent, capital, and large customer relationships.
- Nabors Industries: Global drilling contractor and oilfield services provider with land rig operations in North America including Canada. Broader portfolio includes directional drilling, drilling tools, and offshore rigs — overlapping but not directly competing on every contract.
Direct peers
- Precision Drilling Corporation: Largest Canadian contract drilling and well services provider operating in the WCSB and globally. Direct peer with similar telescopic double rig fleet, day-rate pricing model, and customer base of Western Canadian E&P operators.
- Ensign Energy Services: Major Canadian-based contract drilling and well services company with extensive operations in Western Canada. Directly competes with Stampede for drilling contracts with WCSB-based E&P operators under similar day-rate terms.
- AKITA Drilling Ltd. Canadian-based contract drilling company with operations in Western Canada and the U.S. Provides land-based drilling rigs on contract — directly comparable business model and customer base to Stampede.
- Savanna Drilling Services: Canadian-based contract drilling subsidiary of Total Energy Services. Operates drilling rigs in the WCSB under day-rate contracts with similar E&P customers, directly comparable to Stampede's core WCSB operations.
- Horizon Drilling (Horizon North Logistics / Dexterra): Operates drilling rig services within Western Canada as part of broader energy and workforce solutions. Comparable contract drilling customer base and operating geography to Stampede.
Emerging players
- Bonanza Drilling: Smaller Canadian drilling contractor operating in the WCSB. Competes for similar drilling contracts with intermediate E&P customers, though with a smaller fleet than Stampede.
Others
- Halliburton: Global oilfield services giant providing drilling services, completion tools, and integrated well solutions. While not a direct rig competitor, Halliburton is a key ecosystem partner (consulting and logistics support on the Greenland project) and major customer-side supplier in the WCSB.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Stampede Drilling social profiles
Digital presenceStampede Drilling financial estimates
Financial estimateRevenue estimate
Valuation estimate
Stampede Drilling leadership team
Management profileNumber of profiles
Profiles1 record
Stampede Drilling funding detail
Funding detailFunding overview
Funding rounds5 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Stampede Drilling M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Stampede Drilling
What does Stampede Drilling do?
Stampede Drilling provides premier contract drilling services to oil and gas exploration and production companies in Western Canada using a fleet of 17 marketable telescopic double drilling rigs suited for formations within the Western Canadian Sedimentary Basin. The company also deploys an Arctic-equipped Rig #12 for frontier exploration projects, including a five-year strategic drilling agreement for Greenland's Jameson Land Basin. Revenue is generated through day-rate pricing for operating days from spud to rig release, typically ranging from $25,000 to $28,000 CAD per day.
Is Stampede Drilling a public or private company?
Stampede Drilling is a public company. It is classified as public and is currently operating.
When was Stampede Drilling founded?
Stampede Drilling was founded in 2017. It employs 51 to 100 people.
Where is Stampede Drilling based?
Stampede Drilling is headquartered in Calgary, Canada, in the North America region.
How does Stampede Drilling make money?
Three revenue lines are on record. Contract Drilling Services are the primary driver. The others are equipment Sales and drilling Rig Utilization.
Who are Stampede Drilling's main competitors?
Broad incumbents on record are Patterson-UTI Energy, Helmerich & Payne and Nabors Industries. Direct peers are Precision Drilling Corporation, Ensign Energy Services, AKITA Drilling Ltd., Savanna Drilling Services and Horizon Drilling (Horizon North Logistics / Dexterra). Bonanza Drilling is listed as an emerging player. Halliburton is listed as an others.
Does Stampede Drilling have an API?
No public API is recorded for Stampede Drilling.
What industry is Stampede Drilling in?
Stampede Drilling's product category is Land-Based Contract Drilling Services. Its primary akta.pro industry code is EUALAAAD, Drilling & Well Construction (E&P Operator-led), with a secondary code of IMAHAMAA, Drilling Rigs & Drill Systems. Its NAICS code is 213111 and its SIC code is 1381.