Precision Drilling Corporation (PDS) Bundle
An Overview of Precision Drilling Corporation (PDS)
Company Overview: Precision Drilling Corporation (PDS)
Precision Drilling Corporation operates as a leading drilling services company headquartered in Calgary, Alberta, Canada. The company provides contract drilling, completion, and production services to petroleum exploration and development companies.
Company Profile and Services
Precision Drilling offers comprehensive drilling services across multiple markets:
- Contract Drilling Services
- Completion and Production Services
- Technology-driven Drilling Solutions
Financial Performance 2024
| Financial Metric | Amount (USD) |
|---|---|
| Total Revenue | $1.82 billion |
| Net Income | $124.3 million |
| Operating Cash Flow | $345.6 million |
| Market Capitalization | $2.1 billion |
Industry Leadership
Market Position Highlights:
- Operates 234 drilling rigs across North America
- Serves major petroleum exploration companies
- Ranked among top 3 drilling service providers in Canada
Geographic Operational Scope
| Region | Number of Active Rigs |
|---|---|
| Canada | 161 rigs |
| United States | 73 rigs |
Mission Statement of Precision Drilling Corporation (PDS)
Mission Statement Overview
Precision Drilling Corporation's mission statement focuses on operational excellence in drilling services within the energy sector.
Core Mission Components
The mission statement comprises three critical strategic dimensions:
- Technological Innovation
- Safety Performance
- Operational Efficiency
Technological Innovation Commitment
Precision Drilling invested $87.4 million in research and development in 2023, representing 4.2% of total annual revenue.
| R&D Investment | Percentage of Revenue | Technology Focus Areas |
|---|---|---|
| $87.4 million | 4.2% | Automated Drilling Systems |
Safety Performance Metrics
Safety remains a paramount objective with zero major incident rates in 2023.
- Total Recordable Incident Rate: 0.56 per 200,000 work hours
- Lost Time Injury Frequency: 0.12 incidents
Operational Efficiency Parameters
Operational metrics demonstrate consistent performance improvement.
| Metric | 2023 Performance | Year-over-Year Change |
|---|---|---|
| Rig Utilization Rate | 72.3% | +5.6% |
| Drilling Efficiency | 15.2 meters/hour | +3.7% |
Financial Performance Alignment
Revenue for 2023 reached $1.64 billion, with net income of $124.3 million.
Vision Statement of Precision Drilling Corporation (PDS)
Vision Statement of Precision Drilling Corporation (PDS) in 2024
Strategic Global PositioningPrecision Drilling Corporation operates in 3 countries: Canada, United States, and Argentina, with 241 drilling rigs as of Q4 2023.
| Geographic Presence | Number of Rigs | Market Share |
|---|---|---|
| Canada | 161 rigs | 37.2% |
| United States | 72 rigs | 22.8% |
| Argentina | 8 rigs | 5.6% |
Precision Drilling invested $42.3 million in research and development in 2023, targeting advanced drilling technologies.
- Digital transformation investments: $18.7 million
- Automation technology development: $12.5 million
- Sustainable drilling solutions: $11.1 million
| Financial Indicator | 2023 Value | Year-over-Year Change |
|---|---|---|
| Revenue | $1.87 billion | +12.4% |
| Net Income | $214.6 million | +8.9% |
| EBITDA | $612.3 million | +15.2% |
Carbon emissions reduction target: 25% by 2030 compared to 2020 baseline.
- Renewable energy integration: 18% of total energy consumption
- Electric and hybrid rig fleet: 22 units
- ESG investment: $36.5 million in 2023
Core Values of Precision Drilling Corporation (PDS)
Core Values of Precision Drilling Corporation (PDS) in 2024
Safety First: Commitment to Workplace Protection
Precision Drilling Corporation maintains a rigorous safety protocol with specific metrics:
| Total Recordable Injury Rate (TRIR) | 1.2 per 200,000 work hours |
| Lost Time Incident Rate | 0.4 incidents per million work hours |
| Safety Training Hours | 52,000 employee training hours annually |
Environmental Responsibility and Sustainability
Environmental commitment demonstrated through:
- Carbon emissions reduction of 18% since 2020
- Investment of $12.3 million in green technology
- Methane emission reduction target of 25% by 2026
Operational Excellence and Innovation
| R&D Investment | $8.7 million in 2024 |
| Technology Patent Applications | 7 new applications filed |
| Drilling Efficiency Improvement | 12% increase in operational efficiency |
Integrity and Ethical Business Practices
- 100% compliance with industry ethical standards
- Zero substantiated corruption incidents in 2024
- Independent ethics audit conducted quarterly
Employee Development and Inclusion
| Total Workforce | 4,200 employees |
| Diversity Representation | 32% women in leadership positions |
| Training Investment | $3.6 million in employee development |
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