UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO SECTION 13A-16 OR 15D-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For September 27, 2004
Commission File Number: 001-14534
PRECISION DRILLING CORPORATION
(Exact name of registrant as specified in its charter)
4200, 150 - 6TH AVENUE S.W.
CALGARY, ALBERTA
CANADA T2P 3Y7
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [_] Form 40-F [X]
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1). _______
Note: Regulation S-T Rule 101(b)(1) only permits the submission in
paper of a Form 6-K if submitted solely to provide an attached annual report to
security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): _______
Note: Regulation S-T Rule 101(b)(7) only permits the submission in
paper of a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of
the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes [_] No [X]
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- N/A
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PRECISION DRILLING CORPORATION
Per: /s/ Jan M. Campbell
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Jan M. Campbell
Corporate Secretary
Date: September 27, 2004
M E D I A R E L E A S E
PRECISION DRILLING CORPORATION UNVEILS NEW TECHNOLOGY SERVICES BRAND
AT 80TH ANNUAL SPE TECHNOLOGY CONFERENCE
PRECISION DRILLING CORPORATION DEMONSTRATES COMMITMENT TO EFFICIENT,
FIT-FOR-PURPOSE OILFIELD TECHNOLOGY SERVICES IN EVOLVING INTERNATIONAL MARKETS
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Calgary, Alberta, Canada, September 27, 2004 -- Precision Drilling
Corporation (the "Company" or "Precision"), a global oilfield services company,
announced today the launch of a branding campaign focused on its Technology
Services business segment. This initiative marks an important milestone in the
Company's technology services development as the companies that currently
collectively make up the Technology Services business segment will be combined
under a single brand. The business segment will comprise three divisions:
Precision Wireline Services, Precision Drilling & Evaluation Services, and
Precision Production Services. The single brand for Precision Energy Services
will both unite the organization across common objectives and enable the group
to rapidly build awareness of its capability to deliver the industry with
efficient, cost-effective, fit-for-purpose technologies and services
This brand evolution reflects the Company's commitment to deliver on
the industry challenge of accessing and developing oil and gas fields
efficiently and effectively. According to current industry reports, most of the
"easy" oil has already been found and only difficult reserves remain. As
production efforts call for enhanced recovery techniques, the need for
customized solutions will increase in demand. To meet this demand, Precision
Energy Services offers a streamlined, integrated approach that will meet the
emerging customer needs.
"This is a major milestone for Precision Energy Services because it is
much more than a new logo" said John King, Senior Vice President Precision
Energy Services. "We are committed to providing the industry with the
best-technology-for-the-situation solutions. It also reinforces our focus on
giving customers precisely what they need -- nothing more, nothing less. We are
NOT attempting to position ourselves as the innovators of new technology for
technology's sake, and then attempting to recoup high R&D costs from customers
under increasing pressure to manage costs. We are working efficiently and
effectively to meet the industry's changing needs, and strengthening our
long-term relationships with customers by partnering with them to provide
fit-for-purpose services that meet their bottom-line objectives."
The single brand will provide customers rapid insight regarding the
breadth of services, from early production systems, performance drilling
services, formation evaluation, and well testing and production assessment.
Building upon the strengths the organization has established in North America,
the product lines have secured bridgeheads in various geographic locations.
In the North Sea, recent success with the Revolution(TM) Rotary
Steerable System is supported by five years of advanced underbalanced drilling
services. In the South China Sea, operators are staying ahead of the drilling
curve by using Precision Energy Services' technologies. The Company is also
building on its record of successful underbalanced Controlled Pressure
Drilling(TM) (CPD(TM)) operations in the Middle East. In Mexico services are
being combined with its drilling rig business to provide efficient integrated
services through a performance incentive-based contract.
Introduction of the Company's new brand will be anchored by a new logo,
symbolizing combined resources across a single organization. The design of the
"Precision link" logo was inspired by M.C.Esher, a 19th Century artist famed for
his depiction of intelligent structures with intrigue. Building on the strength
of the Precision Drilling Corporation logo and the strong association with the
color green, the new logo symbolizes the Company's commitment to achieve more
with less, to join competencies and service delivery around a common goal, and
to deliver fit-for-purpose technologies focused on improving efficiencies and
delivering the best value-for-money service in the industry.
# # #
Certain statements contained in this press release, including statements
relating to matters that are not historical facts, are forward-looking
statements under the U.S. Private Securities Litigation Reform Act of 1995. 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;
technological innovations by third parties; competition; the ability to
successfully carry out its intentions; political and economic conditions in
countries in which Precision does business; the demand for services provided by
Precision; changes in laws and regulations, including environmental, to which
Precision is subject and other factors which are described in further detail in
Precision's filings with the Securities and Exchange Commission.
ABOUT PRECISION DRILLING CORPORATION
Precision Drilling Corporation (TSX: PD and PDU; 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 corporate subsidiary offices in 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.
FOR FURTHER INFORMATION PLEASE CONTACT HANK B. SWARTOUT, CHAIRMAN, PRESIDENT AND
CHIEF EXECUTIVE OFFICER OR DALE E. TREMBLAY, SENIOR VICE PRESIDENT FINANCE AND
CHIEF FINANCIAL OFFICER, 4200, 150 - 6TH AVENUE S.W., CALGARY, ALBERTA T2P 3Y7,
TELEPHONE (403) 716-4500; FAX (403) 264-0251; WEBSITE: WWW.PRECISIONDRILLING.COM