09:59 AM EST - Precision Drilling Corporation : announced today the signing of eight new build drilling rig contracts. With this announcement, Precision has increased its 2011 new build rig program to 38 rigs. These eight rigs are expected to consist of four Super Single rigs for the Canadian market and four Super Triple 1200 rigs for the U.S. market. Of the total 38 rigs in the 2011 program, Precision expects to deliver 18 in 2011 and the remaining 20 in 2012. Precision has committed to 47 new build rigs since the beginning of 2010 and has signed long-term contracts for all of the rigs. Precision now estimates that capital expenditures for 2011 will total $880 million. Precision Drilling Corporation
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