Precision Drilling Corporation is the largest drilling rig contractor in Canada, also providing oil field rental and supplies.
History
Precision Drilling Ltd. was founded in 1951.[3]
In 1987, Precision Drilling was acquired by Cypress Drilling, led by president Hank Swartout, in a reverse takeover which left the company with a fleet of 19 rigs.[4] Swartout led the company through extensive growth until his retirement in 2007.[5]
In 2005, Precision sold its energy services and international contract-drilling divisions to Weatherford International for $2.28 billion[6] and reorganized as an income trust.