Precision Drilling Trust

Precision Drilling Trust specializes in onshore oil and gas drilling technology, offering advanced automated solutions for clients in North America and international markets, optimized to enhance drilling efficiency and operational performance. Precision Drilling Trust is engaged in providing drilling services for the oil and gas sector. The company is headquartered in Calgary, Canada. Its CEO is Kevin Neveu.

In December 2013, Alberta Investment Management Corporation fully exited its investment in the company following a successful BUYOUT round that raised CAD 380. 00 mn. The company has participated in 2 funding rounds to date. Precision Drilling Corporation offers an extensive range of products and services focused on onshore oil and gas drilling technology.

Its core offerings include the Alpha™ suite, which utilizes automation, artificial intelligence, and advanced algorithms to improve drilling operations, aimed at reducing time, risks, and costs. Additionally, the EverGreen™ suite addresses environmental concerns by integrating smart monitoring systems and alternative energy sources, including hydrogen technologies, into its operations. Precision Drilling serves upstream oil and gas companies, well servicing operations, and industrial clients across western Canada, the northern U. S.

, and international markets. Precision Drilling generates revenue through various transactional structures, primarily through B2B relationships in the oil and gas sector. The company’s services, including well servicing and oilfield equipment rentals, are typically contracted based on specific project agreements, with rates often influenced by the technological solutions adopted such as the Alpha™ and EverGreen™ services. This model encourages long-term partnerships with clients, ensuring stable revenue through consistent service demand across multiple operational phases.

Precision Drilling Trust plans to expand its market presence by launching new products focused on enhancing drilling efficiency and sustainability. The company also aims to penetrate additional geographic regions with its innovative technologies. Recent funding from the BUYOUT round will facilitate these initiatives, aiding in the development of new technologies targeted for release in the coming years. Following the exit of Alberta Investment Management Corporation in December 2013, Precision Drilling seeks to leverage its enhanced capabilities in the oil and gas sector.