UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO SECTION 13A-16 15D-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For March 3, 2003
Commission File Number:
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 3, 2003
NEWS RELEASE
PRECISION'S CONTRACT DRILLING GROUP
ACQUIRES OILFIELD CAMP ASSETS IN CANADA
CALGARY, ALBERTA, CANADA - MARCH 3, 2003
Precision Drilling Corporation ("Precision") is pleased to announce the
acquisition by its wholly owned subsidiary LRG Catering Ltd. ("LRG") of all the
operating assets of MacKenzie Caterers (1984) Ltd., a provider of oilfield camp
and catering services out of Edmonton, Alberta.
Effective February 1, 2003, the acquisition further strengthens the quality of
LRG's camp facilities with 17 late model camp structures and increases our total
number of camps to 92. The assets, complete with operational management and
catering employees, are welcome additions to LRG as the oilfield service
industry is currently working at full capacity. It is expected that the quality
addition of MacKenzie people and assets will provide added depth to LRG's
oilfield camp service offering to match a trend toward remote drilling locations
and safety initiatives to reduce crew travel to the well site.
LRG provides oilfield drilling camp services to customers in Canada. Since
becoming part of the Precision Group in 1993 LRG has grown from 7 camp
structures to a total of 92 camps representing approximately 25% of the
traditional oilfield camp market. LRG's fleet is comprised of structures made up
of five or six units that are capable of accommodating 25 people and catering to
as many as 50 individuals. The camp structures may also be configured into base
camps to accommodate and feed larger groups.
Certain statements contained in this press release, including statements which
may contain words such as "could", "expect", "believe", "anticipate" and similar
expressions and statements 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; competition; 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.
Precision, headquartered in Calgary, Alberta, Canada, is the largest Canadian
integrated oilfield and industrial services contractor Precision is listed on
the Toronto Stock Exchange under the trading symbol "PD" and on the New York
Stock Exchange under the trading symbol "PDS".
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