Precision Drilling Corporation Brands Technology Services Group To Emphasize International Expansion

Apr 30, 2001, 01:00 ET from Precision Drilling Corporation

    CALGARY, April 30 /PRNewswire/ - In a move that emphasizes its rapid
 expansion into an international energy services provider, Precision Drilling
 Corporation (the "Corporation") today announced the branding of its Technology
 Services Group. Long the dominant drilling contractor in Canada, Precision now
 markets a broad portfolio of energy-related products and services on five
 continents.
     The Technology Services Group is comprised of the following companies:
 Computalog, Northland Energy, Polar Completions, United Diamond, Plains
 Perforating, Challenger/Silverline, and Fleet Cementers. Together, these
 business units provide a wide range of products and services including PDC
 drill bits, wireline and directional drilling services, sophisticated downhole
 tools, MWD/LWD sensors, well cementing and stimulation services and
 underbalanced and coiled tubing drilling.
     Hank Swartout, Chairman, President and Chief Executive Officer of
 Precision said, "We became the premier drilling contractor by providing the
 best equipment and superior technology combined with responsive customer
 service. We are taking the same proven approach in providing a full range of
 services globally."
     Precision has set up an international operations structure to serve
 energy markets in the US, Latin America, Europe, Africa, Middle East and
 Asia/Pacific regions. The Corporation has also embarked on an aggressive
 Research and Engineering program to enhance its current product offerings and
 to bring new technology to market. Included in the R&E effort is a new suite
 of Logging-While-Drilling (LWD) tools designed to exceed all industry
 standards for temperature, pressure, and flow rate performance as well as
 system reliability. Dependable LWD measurements are critical in the high cost
 drilling environments such as those encountered in deepwater exploration.
     Headquartered in Calgary, Alberta, Canada, Precision Drilling Corporation
 is listed on The Toronto Stock Exchange under the trading symbol "PD" and on
 the New York Stock Exchange under the trading symbol "PDS".
     Statements in this press release relating to matters that are not
 historical facts are forward-looking statements. Such forward-looking
 statements involve known and unknown risks and uncertainties which may cause
 the actual results, performances or achievements of Precision to be materially
 different from any future results, performances or achievements expressed or
 implied by such forward-looking statements. Such factors include fluctuations
 in the market for oil and gas and related products and services, political and
 economic conditions in countries in which Precision does business, the demand
 for services provided by Precision, Precision's ability to attract and retain
 key personnel and other factors which are described in further detail in
 Precision's filings with the Securities and Exchange Commission.
 
 

SOURCE Precision Drilling Corporation
    CALGARY, April 30 /PRNewswire/ - In a move that emphasizes its rapid
 expansion into an international energy services provider, Precision Drilling
 Corporation (the "Corporation") today announced the branding of its Technology
 Services Group. Long the dominant drilling contractor in Canada, Precision now
 markets a broad portfolio of energy-related products and services on five
 continents.
     The Technology Services Group is comprised of the following companies:
 Computalog, Northland Energy, Polar Completions, United Diamond, Plains
 Perforating, Challenger/Silverline, and Fleet Cementers. Together, these
 business units provide a wide range of products and services including PDC
 drill bits, wireline and directional drilling services, sophisticated downhole
 tools, MWD/LWD sensors, well cementing and stimulation services and
 underbalanced and coiled tubing drilling.
     Hank Swartout, Chairman, President and Chief Executive Officer of
 Precision said, "We became the premier drilling contractor by providing the
 best equipment and superior technology combined with responsive customer
 service. We are taking the same proven approach in providing a full range of
 services globally."
     Precision has set up an international operations structure to serve
 energy markets in the US, Latin America, Europe, Africa, Middle East and
 Asia/Pacific regions. The Corporation has also embarked on an aggressive
 Research and Engineering program to enhance its current product offerings and
 to bring new technology to market. Included in the R&E effort is a new suite
 of Logging-While-Drilling (LWD) tools designed to exceed all industry
 standards for temperature, pressure, and flow rate performance as well as
 system reliability. Dependable LWD measurements are critical in the high cost
 drilling environments such as those encountered in deepwater exploration.
     Headquartered in Calgary, Alberta, Canada, Precision Drilling Corporation
 is listed on The Toronto Stock Exchange under the trading symbol "PD" and on
 the New York Stock Exchange under the trading symbol "PDS".
     Statements in this press release relating to matters that are not
 historical facts are forward-looking statements. Such forward-looking
 statements involve known and unknown risks and uncertainties which may cause
 the actual results, performances or achievements of Precision to be materially
 different from any future results, performances or achievements expressed or
 implied by such forward-looking statements. Such factors include fluctuations
 in the market for oil and gas and related products and services, political and
 economic conditions in countries in which Precision does business, the demand
 for services provided by Precision, Precision's ability to attract and retain
 key personnel and other factors which are described in further detail in
 Precision's filings with the Securities and Exchange Commission.
 
 SOURCE Precision Drilling Corporation