
Precision Drilling Trades its Coil Tubing Business for a Service Rig Business
Precision Drilling announces swap with Essential Energy Services Calgary-based Precision Drilling Corp. (ticker: PDS) announced Tuesday that the company will swap its Canadian Coil Tubing operations for Essential Energy Services’ (ticker: ESN) service rig business. In addition to the swap of assets, Precision will make a cash payment of $12 million to Essential, the company said in a press release.