Stampede Drilling

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.

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

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

• Contract drilling services
• Land drilling rigs
• Oilfield services
• Western Canadian drilling
• Telescopic double rigs

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Others

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core 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

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered strategic, core and supporting.

• HalliburtonstrategicTechnology or Integration · 27 April 2026Consulting 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 EnergycoreStrategic or Co-development Partner · 30 March 2026Five-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 SolutionssupportingTechnology or IntegrationOperational partner in Greenland Energy's Jameson Land Basin exploration program alongside Stampede Drilling and Halliburton.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad 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

• Xx.com/StampedeDRLG
• Facebookfacebook.com/Stampede-Drilling-Inc-725093487892837
• LinkedInca.linkedin.com/company/stampede-drilling
• Instagraminstagram.com/stampede.drilling

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds5 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stampede Drilling