Reports related to this article:
Project(s): View 5 related projects in PECWeb
Plant(s): View 4 related plants in PECWeb
Released August 04, 2025 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Precision Drilling Corporation (PDC) (Calgary, Alberta), an oil and gas services provider focused on Canada's shale plays, is looking at a brighter-than-expected 2025. One executive last week pointed to "very encouraging" interest among gas-directed drilling operators who are planning expansions in the Montney Shale and related areas, which spurred PDC to raise its 2025 capital-spending plan to C$240 million. Industrial Info is tracking more than US$11 billion worth of active projects involving PDC's services, about 72% of which is attributed to projects in Alberta.
Click on the image at right for a graph detailing the top 10 parent companies for projects featuring PDC's services, by total investment value.
Kevin Neveu, the chief executive officer of PDC, detailed the sunnier outlook in a quarterly earnings-related conference call: "We locked in additional term contracts in the United States and Canada, and we experienced strong customer demand for our Super Triple rigs in every gas basin in North America. All this, coupled with continued customer demand for our pad-equipped Super Single operating in Canadian heavy oil, and thus opening opportunities to invest in further rig enhancements, provides revenue and earnings growth opportunities for Precision. Our outlook for the balance of 2025 and into next year has substantially improved from our conference call in late April."
Prior to its second-quarter earnings statements, PDC expected its 2025 capital-spending plan to reach C$200 million, but it boosted that number 20% amid rising demand, including the potential for new customer commitments. The company plans to upgrade 22 of its "Super Series" rigs as customers express stronger interest, particularly for its high-performance, gas-based "Super Triple" model.
Of the new C$240 million budget, C$150 million is allocated to sustaining and infrastructure expenses, while C$86 million is allocated to upgrades and expansions. PDC's busiest spot in Canada is the Montney Shale, where it currently has 30 Super Triple rigs, 26 of which are running. ARC Resources Limited (Calgary) is contracting PDC on its US$400 million program in the Cutbank Nest 2 Field near Grande Prairie, Alberta, which involves drilling 32 new wells to provide ARC's Cutbank Gas-Processing Plant with natural gas and condensate feed.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can learn more about Cutbank Nest 2 in a detailed project report.
Also in the Montney, PDC is contracted to:
In the July 30 earnings call, Neveu said PDC now is operating 36 rigs in the U.S., compared with 27 rigs in late February, and the company has "targeted getting to 40, and then maybe 45, rigs over time." But he said that goal is based on oil prices staying in the current range; should prices drop to low US$60s per barrel, "well then, all bets are off."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for projects featuring PDC's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 parent companies for projects featuring PDC's services, by total investment value.Kevin Neveu, the chief executive officer of PDC, detailed the sunnier outlook in a quarterly earnings-related conference call: "We locked in additional term contracts in the United States and Canada, and we experienced strong customer demand for our Super Triple rigs in every gas basin in North America. All this, coupled with continued customer demand for our pad-equipped Super Single operating in Canadian heavy oil, and thus opening opportunities to invest in further rig enhancements, provides revenue and earnings growth opportunities for Precision. Our outlook for the balance of 2025 and into next year has substantially improved from our conference call in late April."
Prior to its second-quarter earnings statements, PDC expected its 2025 capital-spending plan to reach C$200 million, but it boosted that number 20% amid rising demand, including the potential for new customer commitments. The company plans to upgrade 22 of its "Super Series" rigs as customers express stronger interest, particularly for its high-performance, gas-based "Super Triple" model.
Of the new C$240 million budget, C$150 million is allocated to sustaining and infrastructure expenses, while C$86 million is allocated to upgrades and expansions. PDC's busiest spot in Canada is the Montney Shale, where it currently has 30 Super Triple rigs, 26 of which are running. ARC Resources Limited (Calgary) is contracting PDC on its US$400 million program in the Cutbank Nest 2 Field near Grande Prairie, Alberta, which involves drilling 32 new wells to provide ARC's Cutbank Gas-Processing Plant with natural gas and condensate feed.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can learn more about Cutbank Nest 2 in a detailed project report.
Also in the Montney, PDC is contracted to:
- Tourmaline Oil Corporation's (Calgary) US$275 million program near Spirit River, Alberta, which involves drilling at least 50 new wells to provide Tourmaline's Spirit River Plant with crude oil, natural gas and natural gas liquid (NGL); see project report
- AltaGas Holdings Incorporated's (Calgary) US$250 million program in the Townsend Field near Wonowon, British Columbia, which involves drilling 30 to 35 new wells to provide AltaGas' Townsend Plant with natural gas, condensate and NGL; see project report
- Kelt Exploration Limited's (Calgary) US$210 million program in the Wembley and Pipestone fields near Grande Cache, Alberta, which involves drilling 19 new wells to provide Kelt's Copton Plant with natural gas and NGL; see project report
In the July 30 earnings call, Neveu said PDC now is operating 36 rigs in the U.S., compared with 27 rigs in late February, and the company has "targeted getting to 40, and then maybe 45, rigs over time." But he said that goal is based on oil prices staying in the current range; should prices drop to low US$60s per barrel, "well then, all bets are off."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for projects featuring PDC's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
