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Swartout led the company through extensive growth until his retirement in 2007. [5] In 2005, Precision sold its energy services and international contract-drilling divisions to Weatherford International for $2.28 billion [6] and reorganized as an income trust. [4] [7] Precision converted from an income trust back to a corporation in 2010. [8]
The company was formed in 2001 by the merger of Global Marine and Santa Fe International Corporation. [2] In March 2003, the company temporarily suspended operations in Kuwait ahead of the Iraq War. [3] [4] In May 2004, the company sold its worldwide land drilling assets to Precision Drilling for $316.5 million. [5] [6]
The company operates across four major service areas: Drilling, Surveying, Wireline, and Support. Drilling Services encompasses a wide range of technologies designed for directional drilling applications, including performance motors, measurement-while-drilling (MWD) tools, rotary steerable systems (RSS), and gyro-while-drilling (GWD) tools, the latter of which was invented by Gyrodata in 2002 ...
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Canada’s largest drilling contractor revenue fell 38% from 1Q 2020, mainly due to lower contract drilling activity and day rates. Precision Drilling (PD) revenue came in at C$236 million in 1Q ...
Weatherford International plc is an American multinational oilfield service company, [2] headquartered in the US and operating in 75 countries globally across the oil and natural gas producing regions. [3] The company provides technical equipment and services used for drilling, evaluation, completion, production, and intervention on gas and oil ...
In addition to the Fortune 500 companies above, many other companies in multiple fields are headquartered or have based their US headquarters in Houston. Al's Formal Wear; Allis-Chalmers Energy; Allpoint; American Bureau of Shipping; American National Insurance Company (Galveston) Aon Hewitt; Archimage; Avelo Airlines; Axiom Space; Baker Botts ...
Nabors Industries Limited is an American global oil and gas drilling contractor that has operated since 1972. Based in Houston, Texas, Nabors operates the world’s largest land drilling rig fleet, with around 500 rigs operating in over 25 countries – in almost every significant O&G basin on the planet.
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