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 March 30, 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
-------------------------------------
Jan M. Campbell
Corporate Secretary
Date: March 30, 2004
NEWS RELEASE
CALGARY, ALBERTA, CANADA - March 30, 2004
PRECISION DRILLING CORPORATION
INTRODUCES THE "SUPER SINGLE LIGHT" DRILLING RIG
Precision Drilling Corporation ("Precision") introduces the next generation of
shallow drilling rigs that are a safe and cost effective 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 Single Light" 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.
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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.
FOR FURTHER INFORMATION PLEASE CONTACT 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