Canadian company Precision Drilling has entered into an agreement with the American oilfield company Schlumberger. The agreement aims to increase the industrialisation of unconventional drilling in North America. Under the agreement Schlumberger will have access to Precision’s Tier 1 drilling rigs and Precision will be able to use Schlumberger’s bottomhole assembly and services.
The agreement applies to Canada and the Lower 48 states in the U.S. and includes contract drilling services, downhole drilling and measurement technology, engineering expertise and operational training.
Precision brings the following to the alliance:
- High Performance North American fleet of 320 drilling rigs including 204 highly efficient, highly mobile Tier 1 rigs;
- Approximately 90 percent of Precision’s North American activity involves horizontal or directional wells;
- Broad customer base with the leading market position in Canada and a significant presence in the U.S. in all the major unconventional basins;
- Highly skilled and experienced workforce supported by robust personnel recruiting, training and development systems;
- State of the art drilling industry Tech Centers in Houston, Texas and Nisku, Alberta that support training and development functions as well as core repair and maintenance support for drilling operations. Broad regional repair and maintenance support provided by additional facilities in Canada including Calgary, Grand Prairie and Nisku; and in the U.S. including Alice, Cresson, Eunice, Grand Junction, Houston, Midland, Williamsport and Williston; and
- Excellent reputation for safety and field performance.
Schlumberger offers to Precision the following:
- Drilling Group technologies with leadership in rotary steerable systems; drilling tools; measurement- and logging-while-drilling (MLWD); surface logging; drill bits;and drilling fluids technologies;
- Well planning and well engineering with reservoir expertise to deal effectively with the range of technical challenges in North America’s resource plays;
- Best-in-class equipment management and maintenance services;
- Training in drilling technologies and operational processes; and
- Excellent reputation for safety and field performance
Kevin Neveu, Precision’s President and Chief Executive Officer, commented on today’s announcement: “Today’s alliance between Precision and Schlumberger meaningfully advances our integrated directional drilling service offering and enables us to compete with the complete range of downhole tool technology creating a value proposition for customers that will be difficult to ignore. The contract drilling leadership of Precision combined with the downhole technology expertise of Schlumberger, will streamline the drilling process, reduce costs and improve results.”
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