Precision Drilling Corporation has entered into an agreement on July 18, 2008 to acquire six service rigs and related equipment from Rick's Well Servicing Ltd. RWS is a privately owned company based in Virden, Manitoba.
Rick Mailhiot, President of RWS, has agreed to join the Precision Well Servicing division as Area Manager. In addition, all other current RWS employees will be offered opportunities with Precision.
The acquisition will strengthen Precision's high-performance, high-value capabilities in the region. These rigs will continue to be focused on the Bakken and Sinclair plays in southeastern Saskatchewan and south-western Manitoba. The acquisition is expected to close on July 31, 2008.
