Precision Drilling Corporation Introduces the "Super Single Light" Drilling rig
30 Marzo 2004 - 10:00PM
PR Newswire (US)
Precision Drilling Corporation Introduces the "Super Single Light"
Drilling rig CALGARY, March 30 /PRNewswire-FirstCall/ -- Precision
Drilling Corporation ("Precision") introduces the next generation
of shallow drilling rigs that are a safe and costeffective
alternative to coiled tubing drilling, ideal for the shallow gas
market. The Precision "Super Single(R) Light" is a scaled down
version of the original Super Single(R) rig designed with the
shallow gas market in mind. The automated pipe handling system and
the integrated top drive have been incorporated to ensure that the
"Super Single Light" is not only efficient but safe as well. The
fact that the "Super Single Light" makes use of conventional Range
III jointed tubulars gives it a distinct advantage over coiled
tubing. In coiled tubing applications, factors such as wellbore
diameter and lithology, as well as directional drilling programs
can often create situations where coiled tubing does not perform
well. Therefore, the "Super SingleLight" is a more versatile option
in that its performance is never compromised regardless of the
drilling application. Coil tubing rigs have higher operating costs
than conventional rotary rigs due to higher fuel consumption and
the expendable nature of the coiled tubing. These additional costs
are ultimately passed along to the customer which makes the "Super
Single Light" a more cost effective solution. Up to the present
time the "Super Single Light" has successfully completed a shallow
gas project in northeast British Columbia in record time and under
budget. Also we are currently drilling horizontal heavy oil wells
in East Central Alberta with tremendous success as this project is
ahead of schedule and under budget. The "Super Single Light" - more
than just a shallow gas rig. Statements in this news release
relating to matters that are not historical facts are
forward-looking statements. Such forward-looking statements involve
known and unknown risks and uncertainties which may cause the
actual results, performances or achievements of Precision to be
materially different from any future results, performances or
achievements expressed or implied by such forward-looking
statements. Such factors include fluctuations in the market for oil
and gas and related products and services, the demand for services
provided by Precision, the success of Precision's technology and
other factors which are described in further detail in Precision's
filings with the Securities and Exchange Commission. Precision
Drilling Corporation (TSX: PD and PD.U; NYSE: PDS) is a global
oilfield services company providing a broad range of drilling,
production and evaluation services with focus on fulfilling
customer needs through fit-for- purpose technologies for the
maturing oilfields of the 21st century. With corporate offices in
Calgary, Alberta, Canada and Houston, Texas, and research
facilities in the U.S. and Europe, Precision employs more than
10,000 people conducting operations in more than 30 countries.
Precision is committed to providing efficient and safe services to
create value for our customers, our shareholders and our employees.
DATASOURCE: Precision Drilling Corporation CONTACT: Dale E.
Tremblay, Senior Vice President Finance and Chief Financial
Officer, Telephone 403-716-4500, Fax 403-264-0251, website:
http://www.precisiondrilling.com/; Archived images on this
organization are available through CNW E-Pix at
http://www.newswire.ca/. Images are free to members of The Canadian
Press. To request a free copy of this organization's annual report,
please go to http://www.newswire.ca/ and click on reports@cnw.
Copyright