Why should you invest in this drilling rig stock: Precision Drilling Corporation (TSX:PD)?
Precision Drilling Corporation (TSX:PD) is the largest drilling rig contractor in Canada, also providing oil field rental and supplies. Precision began in 1951 as a small onshore drilling company with one rig and quickly grew into a fleet by the end of the decade.
In the 1960s and 70s, Precision expanded globally, operating in Mexico, Australia, Timor, New Guinea, and Sumatra before focusing on Western Canada. This era was one of fleet modernization and technological advancements, including the development of the Deep Freeze-Hole drilling technique.