Precision Drilling Corporation
Precision Drilling Corporation is a publicly-traded onshore oil and gas drilling contractor operating 184 drilling rigs and 145 service rigs across North America and the Middle East, providing Super Series rigs, Alpha™ automation technology, and EverGreen™ environmental solutions to oil and gas E&P companies.
- Company typePublic
- Founded1951
- HeadquartersCalgary, Canada
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Precision Drilling Corporation does
Precision Drilling Corporation is a Canadian-headquartered, publicly-traded (NYSE: PDS, TSX: PD) onshore oil and gas drilling contractor founded in 1951 with operational headquarters in Calgary, Alberta, and regional offices in Houston and Dubai. The company operates a fleet of 184 high-specification Super Series drilling rigs (Super Triple, Super Single) and 145 service rigs across North America (Canada and the United States) and the Middle East (Kuwait and Saudi Arabia), serving oil and gas exploration and production companies. Precision is the second-most-active North American driller and the largest provider of service rigs in Canada.
The company's competitive position rests on two proprietary technology platforms deployed across its rig fleet. The Alpha™ suite comprises AlphaAutomation™ (drilling automation software deployed on over 90% of AC Triple rigs achieving up to 96% connection automation), AlphaApps™ (an open platform of drilling optimization applications), and AlphaAnalytics™ (a real-time intelligence platform streaming rig and EDR data at 5Hz via cloud and edge computing, incorporating IIoT video analytics). The EverGreen™ suite addresses emissions reduction through EverGreenHydrogen™ injection systems (up to 7% GHG reduction), EverGreenEnergy™ Battery Energy Storage Systems (BESS), and grid power solutions. These technologies, combined with the Super Series rig specification, enable Precision to command 20-30% premium dayrates over older rigs.
Precision generates revenue primarily through usage-based dayrate contracts for drilling services, with Q1 2026 revenue per utilization day of CAD $35,021 in Canada, USD $33,715 in the U.S., and USD $51,596 internationally. The company supplements drilling revenue with completion and production services (~$80 million in Q1 2026, ~15% of total revenue) encompassing well servicing, oilfield equipment rentals, and camp and catering services. Term contracts with take-or-pay provisions — including five-year international contracts extending into 2027-2028 — provide revenue stability. Total Q1 2026 revenue reached $526 million (up 6% year-over-year), with full-year 2025 revenue of $1.84 billion; recent strategy has emphasized debt reduction ($101 million in 2025), share repurchases ($76 million in 2025), and fleet technology upgrades ($30 million deployed) under a leadership transition in October 2025 that elevated Carey Ford from CFO to President and CEO.
Precision Drilling Corporation firmographics
Firmographics- Name
- Precision Drilling Corporation
- Legal name
- Precision Drilling Corporation
- Website
- https://precisiondrilling.com
- Company type
- Public
- Founded year
- 1951
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Precision Drilling Corporation is a publicly-traded onshore oil and gas drilling contractor operating 184 drilling rigs and 145 service rigs across North America and the Middle East, providing Super Series rigs, Alpha™ automation technology, and EverGreen™ environmental solutions to oil and gas E&P companies.
- Ownership category
- akta.pro rank
Precision Drilling Corporation industry classification
Industry- Product category
- Contract Drilling Services
- NAICS
- Drilling Oil and Gas Wells (213111), Support Activities for Oil and Gas Operations (213112), Support Activities for Mining (21311)
- SIC
- Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)
- akta.pro primary industry
- Drilling & Workover Rigs (Land & Offshore) (EUALABAA)
- akta.pro secondary industries
- Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH), Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL), Drilling Rigs & Drill Systems (IMAHAMAA)
Keywords
Where Precision Drilling Corporation is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Precision Drilling Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Contract Drilling Services: Precision generates the majority of its revenue through dayrate-based contract drilling services for oil and gas companies. The company operates a fleet of Super Series drilling rigs providing services in Canada, the U.S., and internationally (Middle East). Revenue is measured per utilization day with dayrates ranging from approximately $30,000-$35,000 in North America and over $50,000 internationally. The company utilizes term contracts with take-or-pay provisions that provide revenue stability.
- Completion and Production Services: Well servicing, oilfield equipment rental, and camp services. This segment includes the largest provider of service rigs in Canada with 145 service rigs. Revenue for this segment was $80 million in Q1 2026, representing approximately 15% of total revenue. Well service rig operating hours increased 4% versus prior year.
- International Drilling Operations: International contract drilling operations through Grey Wolf International brand, with seven active rigs in the Middle East (four in Kuwait, three in Saudi Arabia) under five-year term contracts extending into 2027 and 2028. International revenue per utilization day was US$51,596 in Q1 2026, significantly higher than North American rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Contract drilling services billed per utilization day with term contract structures |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Precision Drilling Corporation product offering
Product offeringCore offering
Precision Drilling Corporation provides contract drilling services and completion and production services to oil and gas exploration and production companies. The company operates a fleet of high-specification Super Series drilling rigs (Super Triple and Super Single) across North America and the Middle East under the Grey Wolf brand, complemented by proprietary digital technology (Alpha™ suite) and environmental solutions (EverGreen™ suite). Additional offerings include well servicing through Precision Well Servicing, oilfield equipment rentals through Precision Rentals, and camp and catering services for remote workforce housing.
Product overview
Precision Drilling Corporation is an onshore oil and gas drilling contractor offering a comprehensive portfolio of services and technology solutions. The company operates the Alpha™ suite of digital technologies (AlphaAutomation, AlphaApps, AlphaAnalytics) for drilling automation and optimization, and the EverGreen™ suite of environmental solutions (EverGreenEnergy, EverGreenHydrogen) for emissions reduction. Core services include Super Series drilling rigs (Super Triple, Super Single) for high-specification drilling, well servicing operations through Precision Well Servicing, equipment rentals through Precision Rentals, and camp and catering services. International operations are conducted under the Grey Wolf brand, primarily in the Middle East. The company serves as one of North America's largest drilling contractors with approximately 110 drilling rigs focused on the Permian Basin and Western Canada.
Differentiator
Problem solved
Functional benefit
Brands
- Grey Wolf: International drilling company subsidiary operating rigs in the Middle East including Kuwait and Saudi Arabia.
- Alpha™
- EverGreen™
- Precision Well Servicing
- Precision Rentals
- Precision Camp and Catering Services
- Target Zero
Products and services
- North American Contract Drilling Services Dayrate-based contract drilling services delivered through a fleet of high-specification Super Triple and Super Single drilling rigs focused on high-margin markets including the Permian Basin and Western Canada. Operations include term contracts with take-or-pay provisions.
- Grey Wolf International Drilling Services
Quantifiable outcome
- Up to 96% automation of drilling connections through AlphaAutomation™
- +6 more outcomes
Companies that use Precision Drilling Corporation
Customer profileSegments2 records
Ideal customer profiles3 records
Precision Drilling Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature8 records
Precision Drilling Corporation partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- NOV (National Oilwell Varco)corePrecision Drilling partnered with NOV to deploy the AlphaARMS robotics system on land drilling rigs. The deployment in Canada's Montney Shale exceeded expectations, achieving 95% automation of rig floor activities (against initial target of 80%) and eliminating over 70,000 manual touchpoints, resulting in a 36% reduction in cumulative worker hours. The partnership involves NOV's ATOM RTX robotic arm system integrated with Precision's AlphaAutomation platform.
Scale indicators10 records
Recent moves7 records
Expansion highlights5 records
Precision Drilling Corporation competitors and assessment
Company assessmentDirect peers
- Nabors Industries: Global drilling contractor with significant U.S. and international land drilling operations and a proprietary automation/AI platform (Nabors Drilling Solutions) that directly competes with Precision's Alpha™ suite. Closely comparable on technology-led differentiation strategy and rig premium pricing.
- Ensign Energy Services: Canadian-based drilling and well servicing contractor with overlapping service rig and drilling rig operations in Western Canada. Directly competes with Precision in the WCSB market and is the most relevant Canadian comparable, especially for Precision Well Servicing.
- Helmerich & Payne: Largest U.S. land drilling contractor and Precision's closest direct peer, operating a similarly large high-spec rig fleet (FlexRig) with proprietary drilling automation. Competes head-to-head for Permian and U.S. land drilling contracts and is the natural comparable on dayrate premium, technology differentiation, and fleet utilization.
- Patterson-UTI Energy: Major North American land driller with a comparable Super-Spec rig fleet and pressure pumping exposure. Competes directly with Precision for U.S. onshore drilling contracts and serves overlapping E&P customers in the Permian and other U.S. basins.
Broad incumbents
- Halliburton: Diversified global oilfield services giant with drilling-related offerings (drilling fluids, bits, directional) that interact with Precision's drilling operations. A broad incumbent whose activity levels and North American commentary move with Precision's customer demand.
- Schlumberger (SLB): World's largest oilfield services company with broad drilling, completions, production, and digital portfolios. Competes with Precision indirectly via integrated drilling projects and Schlumberger Drilling Tools; relevant for benchmarking technology investment and international footprint.
- Weatherford International: Global oilfield services and equipment provider with drilling-related product lines and well construction services. Overlaps with Precision in wellsite equipment and services and competes in oilfield equipment supply alongside Precision Rentals.
Emerging players
- Ranger Energy Services: U.S.-focused oilfield services provider in well completion, production, and rig-related services. Comparable to Precision's Completion and Production Services segment and useful as a peer for the well-servicing side of the business.
- PROPETRO Holding: U.S. completions-focused oilfield services company (pressure pumping) adjacent to Precision's drilling operations. While not a direct drilling competitor, it serves overlapping E&P customers and is relevant for understanding U.S. onshore activity trends and customer concentration.
Regional players
- Trican Well Service: Canadian oilfield services company focused on well completions and production services, primarily in Western Canada. Comparable to Precision's Completion and Production Services segment and a regional peer for the Canadian well-servicing market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Precision Drilling Corporation social profiles
Digital presencePrecision Drilling Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Precision Drilling Corporation leadership team
Management profileNumber of profiles
Profiles14 records
Precision Drilling Corporation subsidiaries and ownership
Company hierarchySubsidiaries5 records
Precision Drilling Corporation funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Precision Drilling Corporation M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Precision Drilling Corporation
What does Precision Drilling Corporation do?
Precision Drilling Corporation provides contract drilling services and completion and production services to oil and gas exploration and production companies. The company operates a fleet of high-specification Super Series drilling rigs (Super Triple and Super Single) across North America and the Middle East under the Grey Wolf brand, complemented by proprietary digital technology (Alpha™ suite) and environmental solutions (EverGreen™ suite). Additional offerings include well servicing through Precision Well Servicing, oilfield equipment rentals through Precision Rentals, and camp and catering services for remote workforce housing.
Is Precision Drilling Corporation a public or private company?
Precision Drilling Corporation is a public company. It is classified as public and is currently operating.
When was Precision Drilling Corporation founded?
Precision Drilling Corporation was founded in 1951. It employs 5,001 to 10,000 people.
Where is Precision Drilling Corporation based?
Precision Drilling Corporation is headquartered in Calgary, Canada, in the North America region.
How does Precision Drilling Corporation make money?
Three revenue lines are on record. Contract Drilling Services are the primary driver. The others are completion and Production Services and international Drilling Operations.
Who are Precision Drilling Corporation's main competitors?
Direct peers on record are Nabors Industries, Ensign Energy Services, Helmerich & Payne and Patterson-UTI Energy. Broad incumbents are Halliburton, Schlumberger (SLB) and Weatherford International. Emerging players are Ranger Energy Services and PROPETRO Holding. Trican Well Service is listed as a regional player.
Does Precision Drilling Corporation have an API?
No public API is recorded for Precision Drilling Corporation.
What industry is Precision Drilling Corporation in?
Precision Drilling Corporation's product category is Contract Drilling Services. Its primary akta.pro industry code is EUALABAA, Drilling & Workover Rigs (Land & Offshore), with a secondary code of EUALABAH, Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals). Its NAICS code is 213111 and its SIC code is 1381.