Precision Drilling establishes $400 million bridge credit facility

Date Closed: 5/18/2004

Value: $400 million

Precision Drilling Corp. completed the establishment of a $400 million bridge credit facility from the Royal Bank of Canada on May 18, 2004, to be used to complete the purchase of land-based drilling rigs and related assets and personnel from GlobalSantaFe Corp.

Precision was represented by William Guinan and Brian Roberts of BLG in Calgary.