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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]
Patterson Drilling Company was founded in 1978 by Cloyce Talbott and Glenn Patterson. [1] UTI Energy was formed in 1986 to purchase Universal Well Services, Union Supply Company, Triad Drilling Company, and International Petroleum Services Company. In 2001, Patterson Drilling acquired UTI Energy and renamed the company Patterson-UTI Energy. [3]
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Precision Drilling (PD) revenue came in at C$236 million in 1Q 2021, compared to C$379 million in 1Q 2020. The adjusted EBITDA of C$55 million was 47% lower than in the previous year.
The manufacturing operations of the company at 2nd and Girard Streets in Houston, Texas, where it was located in the 1910s. Today, the site of the building is on the campus of University of Houston–Downtown. A February 1914 advertisement for the Sharp-Hughes Tool Company in Fuel Oil Journal.
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.
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 ...
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