Precision Drilling has entered into a strategic technology and service agreement and marketing alliance with Schlumberger. Using Precision’s Tier 1 drilling rigs and Schlumberger’s bottomhole assembly and services, the agreement aims to increase the industrialization of unconventional drilling in North America. The agreement applies to Canada and the Lower 48 states in the US and includes contract drilling services, downhole drilling and measurement technology, engineering expertise and operational training. “Today’s alliance between Precision and Schlumberger meaningfully advances our integrated directional drilling service offering and enables us to compete with the complete range of downhole tool technology creating a value proposition for customers that will be difficult to ignore,” Kevin Neveu, President and CEO of Precision, said. “The contract drilling leadership of Precision combined with the downhole technology expertise of Schlumberger, will streamline the drilling process, reduce costs and improve results.”
Precision will continue to expand its integrated directional drilling services utilizing Schlumberger’s downhole tools and related services supported by drilling engineering and modeling, component integration, industry leading subsurface knowledge and expertise and high-quality measurements.
The agreement between Precision and Schlumberger will leverage core strengths to provide services to North American oil and gas companies. The relationship targets improved drilling performance, efficiency, consistency and reduced cost of operations.
Precision will bring to the alliance a high-performance North American fleet of 320 drilling rigs, including 204 highly mobile Tier 1 rigs. Approximately 90% of Precision’s North American activity involves horizontal or directional wells. The company also has technology centers in Houston and Nisku, Alberta, Canada, to support training and development functions, as well as core repair and maintenance support for drilling operations.
Schlumberger will offer its drilling group technologies, including rotary steerable systems, drilling tools, measurement- and logging-while-drilling, surface logging, drill bits and drilling fluids technologies. The service company also provides well planning and well engineering with reservoir expertise in North America’s resource plays, management and maintenance services, and training in drilling technologies and operational processes.