Precision Drilling (PDS) 40-F 13 Mar 18 2017 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document And Entity Information [Abstract]
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	PDS
Entity Registrant Name	PRECISION DRILLING CORP
Entity Central Index Key	1,013,605
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	293,238,858

Consolidated Statements of Fina

Consolidated Statements of Financial Position - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 65,081	$ 115,705
Accounts receivable	322,585	293,682
Income tax recoverable	29,449	38,087
Inventory	24,631	24,136
Total current assets	441,746	471,610
Non-current assets:
Income taxes recoverable	2,256
Deferred tax assets	41,822
Property, plant and equipment	3,173,824	3,641,889
Intangibles	28,116	3,316
Goodwill	205,167	207,399
Total non-current assets	3,451,185	3,852,604
Total assets	3,892,931	4,324,214
Current liabilities:
Accounts payable and accrued liabilities	209,625	240,736
Non-current liabilities:
Share based compensation	13,536	27,387
Provisions and other	10,086	12,421
Long-term debt	1,730,437	1,906,934
Deferred tax liabilities	118,911	174,618
Total non-current liabilities	1,872,970	2,121,360
Shareholders’ equity:
Shareholders’ capital	2,319,293	2,319,293
Contributed surplus	44,037	38,937
Deficit	(684,604)	(552,568)
Accumulated other comprehensive income	131,610	156,456
Total shareholders’ equity	1,810,336	1,962,118
Total liabilities and shareholders’ equity	$ 3,892,931	$ 4,324,214

Consolidated Statements of Loss

Consolidated Statements of Loss - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenue	$ 1,321,224	$ 1,003,233
Expenses:
Operating	926,171	661,715
General and administrative	90,072	107,689
Restructuring		5,754
Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization	304,981	228,075
Depreciation and amortization	377,746	391,659
Impairment of property, plant and equipment	15,313
Gain on re-measurement of property, plant and equipment		(7,605)
Operating loss	(88,078)	(155,979)
Foreign exchange	(2,970)	6,008
Finance charges	137,928	146,360
Loss on redemption and repurchase of unsecured senior notes	9,021	239
Loss before tax	(232,057)	(308,586)
Income taxes:
Current	(1,331)	(31,195)
Deferred	(98,690)	(121,836)
Income tax recovery	(100,021)	(153,031)
Net loss	$ (132,036)	$ (155,555)
Loss per share:
Basic	$ (0.45)	$ (0.53)
Diluted	$ (0.45)	$ (0.53)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement Of Comprehensive Income [Abstract]
Net loss	$ (132,036)	$ (155,555)
Unrealized loss on translation of assets and liabilities of operations denominated in foreign currency	(146,545)	(76,608)
Foreign exchange gain on net investment hedge with U.S. denominated debt, net of tax	121,699	66,963
Comprehensive loss	$ (156,882)	$ (165,200)

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operations:
Net loss	$ (132,036)	$ (155,555)
Adjustments for:
Long-term compensation plans	6,795	28,313
Depreciation and amortization	377,746	391,659
Impairment of property, plant and equipment	15,313
Gain on re-measurement of property, plant and equipment		(7,605)
Foreign exchange	(2,873)	6,791
Finance charges	137,928	146,360
Loss on redemption and repurchase of unsecured senior notes	9,021	239
Income taxes	(100,021)	(153,031)
Other	(2,025)	(1,889)
Income taxes paid	(3,645)	(14,605)
Income taxes recovered	11,932	795
Interest paid	(136,065)	(139,575)
Interest received	1,865	3,478
Funds provided by operations	183,935	105,375
Changes in non-cash working capital balances	(67,380)	17,133
Cash flows from used in operating activities	116,555	122,508
Investments:
Purchase of property, plant and equipment	(74,823)	(203,472)
Purchase of intangibles	(23,179)
Proceeds on sale of property, plant and equipment	14,841	7,840
Business acquisition, net of cash acquired		(12,200)
Income taxes recovered		2,917
Changes in non-cash working capital balances	(7,989)	(9,010)
Cash flows from used in investing activities	(91,150)	(213,925)
Financing:
Redemption and repurchase of unsecured senior notes	(571,975)	(677,704)
Debt issue costs	(9,196)	(10,752)
Debt amendment fees	(1,793)	(1,214)
Proceeds from issuance of long-term debt	509,180	469,420
Issuance of common shares on the exercise of options		1,926
Cash flows from used in financing activities	(73,784)	(218,324)
Effect of exchange rate changes on cash and cash equivalents	(2,245)	(19,313)
Decrease in cash and cash equivalents	(50,624)	(329,054)
Cash and cash equivalents, beginning of year	115,705	444,759
Cash and cash equivalents, end of year	$ 65,081	$ 115,705

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - CAD ($) $ in Thousands	Total	Shareholders' Capital [Member]	Contributed Surplus [Member]	Accumulated Other Comprehensive Income [Member]	Deficit [Member]
Balance at Dec. 31, 2015	$ 2,121,209	$ 2,316,321	$ 35,800	$ 166,101	$ (397,013)
Net loss for the period	(155,555)				(155,555)
Other comprehensive income (loss) for the period	(9,645)			(9,645)
Share options exercised	1,926	2,972	(1,046)
Share based compensation expense	4,183		4,183
Balance at Dec. 31, 2016	1,962,118	2,319,293	38,937	156,456	(552,568)
Net loss for the period	(132,036)				(132,036)
Other comprehensive income (loss) for the period	(24,846)			(24,846)
Share based compensation expense	5,100		5,100
Balance at Dec. 31, 2017	$ 1,810,336	$ 2,319,293	$ 44,037	$ 131,610	$ (684,604)

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2017
Description Of Business [Abstract]
Description of Business	NOTE 1. DESCRIPTION OF BUSINESS Precision Drilling Corporation (Precision or the Corporation) is incorporated under the laws of the Province of Alberta, Canada and is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. The address of the registered office is 800, 525 – 8th Avenue S.W., Calgary, Alberta, Canada, T2P 1G1.

Basis of Preparation

Basis of Preparation	12 Months Ended
	Dec. 31, 2017
Basis Of Preparation [Abstract]
Basis of Preparation	NOTE 2. BASIS OF PREPARATION (a) Statement of Compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). These consolidated financial statements were authorized for issue by the Board of Directors on March 9, 2018. (b) Basis of Measurement The consolidated financial statements have been prepared using the historical cost basis and are presented in thousands of Canadian dollars. (c) Use of Estimates and Judgments The preparation of the consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingencies. These estimates and judgments are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The estimation of anticipated future events involves uncertainty and, consequently, the estimates used in preparation of the consolidated financial statements may change as future events unfold, more experience is acquired, or the Corporation’s operating environment changes. The Corporation reviews its estimates and assumptions on an ongoing basis. Adjustments that result from a change in estimate are recorded in the period in which they become known. Significant estimates and judgments used in the preparation of the financial statements are described in Note 3(d), (g)(ii), (i) and (r).

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Consolidation These consolidated financial statements include the accounts of the Corporation and all of its subsidiaries and partnerships, substantially all of which are wholly-owned. The financial statements of the subsidiaries are prepared for the same period as the parent entity, using consistent accounting policies. All significant intercompany balances and transactions and any unrealized gains and losses arising from intercompany transactions, have been eliminated. Subsidiaries are entities controlled by the Corporation. Control exists when Precision has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, potential voting rights that currently are exercisable are considered. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Precision does not hold investments in any companies where it exerts significant influence and does not hold interests in any special-purpose entities. The acquisition method is used to account for acquisitions of subsidiaries and assets that meet the definition of a business under IFRS. The cost of an acquisition is measured as the fair value of the assets given, equity instruments issued, and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The excess of the cost of acquisition over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized immediately in the statement of earnings. Transaction costs, other than those associated with the issuance of debt or equity securities, that the Corporation incurs in connection with a business combination are expensed as incurred. (b) Cash and Cash Equivalents Cash and cash equivalents consist of cash and short-term investments with original maturities of three months or less. (c) Inventory Inventory is primarily comprised of operating supplies and is carried at the lower of average cost, being the cost to acquire the inventory, and net realizable value. Inventory is charged to operating expenses as items are sold or consumed at the amount of the average cost of the item. (d) Property, Plant and Equipment Property, plant and equipment are carried at cost, less accumulated depreciation and any accumulated impairment losses. Cost includes an expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to a working condition for their intended use, and borrowing costs on qualifying assets. The cost of replacing a part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Corporation, and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of property, plant and equipment (repair and maintenance) are recognized in profit or loss as incurred. Property, plant, and equipment are depreciated as follows: Expected Life Salvage Value Basis of Depreciation Drilling rig equipment: – Power & Tubulars 5 years – straight-line – Dynamic 10 years – straight-line – Structural 20 years 10% straight-line Seasonal, stratification and turnkey drilling equipment 4 years 0 to 20% straight-line Service rig equipment 20 years 10% straight-line Drilling rig spare equipment up to 15 years – straight-line Service rig spare equipment up to 15 years – straight-line Rental equipment 10 to 15 years 0 to 25% straight-line Other equipment 3 to 10 years – straight-line Light duty vehicles 4 years – straight-line Heavy duty vehicles 7 to 10 years – straight-line Buildings 10 to 20 years – straight-line Property, plant and equipment are depreciated based on estimates of useful lives and salvage values. These estimates consider data and information from various sources including vendors, industry practice, and Precision’s own historical experience and may change as more experience is gained, market conditions shift, or technological advancements are made. Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal to the carrying amount of property, plant and equipment, and are recognized in the consolidated statements of loss. Determination of which parts of the drilling rig equipment represent significant cost relative to the entire rig and identifying the consumption patterns along with the useful lives of these significant parts, are matters of judgment. This determination can be complex and subject to differing interpretations and views, particularly when rig equipment comprises individual components for which different depreciation methods or rates are appropriate. The estimated useful lives, residual values and methods of depreciation are reviewed annually, and adjusted prospectively if appropriate. (e) Intangibles Intangible assets that are acquired by the Corporation with finite lives are initially recorded at estimated fair value and subsequently measured at cost less accumulated amortization and any accumulated impairment losses. Subsequent expenditures are capitalized only when they increase the future economic benefits of the specific asset to which they relate. Intangible assets are amortized based on estimates of useful lives. These estimates consider data and information from various sources including vendors and Precision’s own historical experience and may change as more experience is gained or technological advancements are made. Amortization is recognized in profit and loss using the straight-line method over the estimated useful lives of the respective assets. The estimated useful lives and methods of amortization are reviewed annually and adjusted prospectively if appropriate. (f) Goodwill Goodwill is the amount that results when the purchase price of an acquired business exceeds the sum of the amounts allocated to the assets acquired, less liabilities assumed, based on their fair values. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, attributed to the cash generating unit ( CGU (g) Impairment: i) Financial Assets A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is any objective evidence that it is impaired. A financial asset is tested for impairment if objective evidence indicates that one or more events have had a negative effect on the estimated future cash flows of that asset. Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Corporation on terms that the Corporation would not consider otherwise, and indications that a debtor will enter bankruptcy. Precision considers evidence of impairment for receivables at both a specific asset and collective level. All individually significant receivables are assessed for specific impairment. All significant receivables found not to be specifically impaired are then collectively assessed for impairment by grouping together receivables with similar risk characteristics. An impairment loss in respect of a financial asset measured at amortized cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the original effective interest rate. Individually significant financial assets are tested for impairment on an individual basis. The remaining financial assets are assessed collectively in groups that share similar credit risk characteristics. All impairment losses are recognized in profit or loss. An impairment loss is reversed if the reversal can be related objectively to an event occurring after the impairment loss was recognized. For financial assets measured at amortized cost the reversal is recognized in profit or loss. ii) Non-Financial Assets The carrying amounts of the Corporation’s non-financial assets, other than inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Judgement is required when evaluating whether a CGU has indications of impairment. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the cash-generating unit). Judgment is required in the aggregation of assets into CGUs. The recoverable amount of an asset or a CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using an after-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Value in use is generally computed by reference to the present value of the future cash flows expected to be derived from the cash generating unit. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognized in prior years are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. (h) Borrowing Costs Interest and borrowing costs that are directly attributable to the acquisition, construction or production of assets that take a substantial period of time to prepare for their intended use are capitalized as part of the cost of those assets. Capitalization ceases during any extended period of suspension of construction or when substantially all activities necessary to prepare the asset for its intended use are complete. All other interest and borrowing costs are recognized in earnings in the period in which they are incurred. (i) Income Taxes Income tax expense is recognized in net earnings except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity. Current tax is the expected tax payable or receivable on the taxable earnings or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized on the initial recognition of assets or liabilities in a transaction that is not a business combination. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in net earnings in the period that includes the date of enactment or substantive enactment. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities that are expected to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The Company is subject to taxation in numerous jurisdictions. Uncertainties exist with respect to the interpretation of complex tax regulations and requires significant judgement. Differences arising between the actual results and the assumptions made, or future changes to such assumptions, could necessitate future adjustments to taxable income and expense already recorded. The Corporation establishes provisions, based on reasonable estimates, for possible consequences of audits by the tax authorities of the respective countries in which it operates. The amount of such provisions is based on various factors, such as experience of previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority. (j) Revenue Recognition The Corporation’s services are generally sold based on service orders or contracts with a customer that include fixed or determinable prices based on daily, hourly or job rates. Customer contract terms do not include provisions for significant post-service delivery obligations. Revenue is recognized when services and equipment rentals are rendered and only when collectability is reasonably assured. The Corporation also provides services under turnkey contracts whereby it drills a well to an agreed upon depth under specified conditions for a fixed price, regardless of the time required or the problems encountered in drilling the well. Revenue from turnkey drilling contracts is recognized using the percentage-of-completion method based on costs incurred to date and estimated total contract costs. Anticipated losses, if any, on uncompleted contracts are recorded at the time the estimated costs exceed the contract revenue. (k) Employee Benefit Plans Precision sponsors various defined contribution retirement plans for its employees. The Corporation’s contributions to defined contribution plans are expensed as employees earn the entitlement. (l) Provisions Provisions are recognized when the Corporation has a present obligation (legal or constructive) as a result of a past event, when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. (m) Share Based Incentive Compensation Plans The Corporation has established several cash-settled share based incentive compensation plans for non-management directors, officers, and other eligible employees. As estimated by management, the fair values of the amounts payable to eligible participants under these plans are recognized as an expense with a corresponding increase in liabilities over the period that the participants become unconditionally entitled to payment. The recorded liability is re-measured at the end of each reporting period until settlement with the resultant change to the fair value of the liability recognized in net earnings for the period. When the plans are settled, the cash paid reduces the outstanding liability. The Corporation has implemented an employee share purchase plan that allows eligible employees to purchase common shares through payroll deductions. Under this plan, contributions made by employees are matched to a specific percentage by the Corporation. The contributions made by the Corporation are expensed as incurred. Prior to January 1, 2012, the Corporation had an equity-settled deferred share unit plan whereby non-management directors of Precision could elect to receive all or a portion of their compensation in fully-vested deferred share units. Compensation expense was recognized based on the fair value price of the Corporation’s shares at the date of grant with a corresponding increase to contributed surplus. Upon redemption of the deferred share units into common shares, the amount previously recognized in contributed surplus is recorded as an increase to shareholders’ capital. The Corporation continues to have obligations under this plan. A share option plan has been established for certain eligible employees. Under this plan, the fair value of share purchase options is calculated at the date of grant using the Black-Scholes option pricing model, and that value is recorded as compensation expense over the grant’s vesting period with an offsetting credit to contributed surplus. A forfeiture rate is estimated on the grant date and is adjusted to reflect the actual number of options that vest. Upon exercise of the equity purchase option, the associated amount is reclassified from contributed surplus to shareholders’ capital. Consideration paid by employees upon exercise of the equity purchase options is credited to shareholders’ capital. (n) Foreign Currency Translation Transactions of the Corporation’s individual entities are recorded in the currency of the primary economic environment in which it operates (its functional currency). Transactions in currencies other than the entities’ functional currency are translated at rates in effect at the time of the transaction. At each period end, monetary assets and liabilities are translated at the prevailing period-end rates. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Gains and losses are included in net earnings except for gains and losses on translation of long-term debt designated as a hedge of foreign operations, which are deferred and included in other comprehensive income. For the purpose of preparing the Corporation’s consolidated financial statements, the financial statements of each foreign operation that does not have a Canadian dollar functional currency are translated into Canadian dollars. Assets and liabilities are translated at exchange rates in effect at the period end date. Revenues and expenses are translated using average exchange rates for the month of the respective transaction. Gains or losses resulting from these translation adjustments are recognized initially in other comprehensive income and reclassified from equity to net earnings on disposal or partial disposal of the foreign operation. (o) Per Share Amounts Basic per share amounts are calculated using the weighted average number of shares outstanding during the period. Diluted per share amounts are calculated by using the treasury stock method for equity based compensation arrangements. The treasury stock method assumes that any proceeds obtained on exercise of equity based compensation arrangements would be used to purchase common shares at the average market price during the period. The weighted average number of shares outstanding is then adjusted by the difference between the number of shares issued from the exercise of equity based compensation arrangements and shares repurchased from the related proceeds. (p) Financial Instruments i) Non-Derivative Financial Instruments: Financial assets are classified as either fair value through profit and loss, loans and receivables, held to maturity or available for sale. Financial liabilities are classified as either fair value through profit and loss or other financial liabilities. Non-derivative financial instruments are recognized initially at fair value plus, for instruments not at fair value through profit or loss, any directly attributable transaction costs. Transaction costs attributable to fair value through profit or loss items are expensed as incurred. Subsequent to initial recognition, non-derivative financial instruments are measured based on their classification. Accounts receivable are classified as loans and receivables. After their initial fair value measurement, they are measured at amortized cost using the effective interest rate method. For the Corporation, the measured amount generally corresponds to historical cost. Accounts payable and accrued liabilities and long-term debt are classified as other financial liabilities. After their initial fair value measurement, they are measured at amortized cost using the effective interest rate method. For the Corporation, the measured amount generally corresponds to historical cost. ii) Derivative Financial Instruments: The Corporation may enter into certain financial derivative contracts in order to manage the exposure to market risks from fluctuations in interest rates or exchange rates. These instruments are not used for trading or speculative purposes. Precision has not designated its financial derivative contracts as effective accounting hedges, and thus has not applied hedge accounting, even though it considers certain financial contracts to be economic hedges. As a result, financial derivative contracts are classified as fair value through profit or loss and are recorded on the statement of financial position at estimated fair value. Transaction costs are recognized in profit or loss when incurred. Derivatives embedded in other instruments or host contracts are separated from the host contract and accounted for separately when their economic characteristics and risks are not closely related to the host contract. Embedded derivatives are recorded on the statement of financial position at estimated fair value and changes in the fair value are recognized in earnings. (q) Hedge Accounting The Corporation utilizes foreign currency long-term debt to hedge its exposure to changes in the carrying values of the Corporation’s net investment in certain foreign operations as a result of changes in foreign exchange rates. To be accounted for as a hedge, the foreign currency long-term debt must be designated and documented as a hedge and must be effective at inception and on an ongoing basis. The documentation defines the relationship between the foreign currency long-term debt and the net investment in the foreign operations, as well as the Corporation’s risk management objective and strategy for undertaking the hedging transaction. The Corporation formally assesses, both at inception and on an ongoing basis, whether the changes in fair value of the foreign currency long-term debt is highly effective in offsetting changes in fair value of the net investment in the foreign operations. The portion of gains or losses on the hedging item that is determined to be an effective hedge is recognized in other comprehensive income, net of tax, and is limited to the translation gain or loss on the net investment, while the ineffective portion is recorded in earnings. If the hedging relationship is terminated or ceases to be effective, hedge accounting is not applied to subsequent gains or losses. The amounts recognized in other comprehensive income are reclassified to net earnings when corresponding exchange gains or losses arising from the translation of the foreign operation are recorded in net earnings. (r) Critical Accounting Assumptions and Estimates i) Impairment of Long-Lived Assets When indications of impairment exist within a CGU, a recoverable amount is determined and requires assumptions to estimate future discounted cash flows. These estimates and assumptions include future drilling activity, margins and market conditions over the long-term life of the CGU. In selecting a discount rate, we use observable market data inputs to develop a rate that we believe approximates the discount rate from market participants. Although we believe the estimates are reasonable and consistent with current conditions, internal planning, and expected future operations, such estimations are subject to significant uncertainty and judgment. ii) Income taxes Significant estimation and assumptions are required in determining the provision for income taxes. The recognition of deferred tax assets in respect of deductible temporary differences and unused tax losses and credits is based on the Corporation’s estimation of future taxable profit against which these differences, losses and credits may be used. The assessment is based upon existing tax laws and estimates of the Corporation’s future taxable income. These estimates may be materially different from the actual final tax return in future periods. (s) Amendments to Accounting Standards Adopted January 1, 2017 The Corporation has applied the following mandatorily effective amendments to IFRSs in the current year. Outside of additional disclosure requirements, these amendments had no impact on the amounts recorded in the Corporation’s financial statements. i) Amendments to IAS 7 Disclosure Initiative These amendments require an entity to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both cash and non-cash changes. Precision’s liabilities arising from financing activities consist entirely of long-term debt. A reconciliation between opening and closing balances of long-term debt has been provided in Note 11. Consistent with the transition provisions of the amendments, Precision has not disclosed comparative information for the prior year. ii) Amendments to IAS 12 Recognition of Deferred Tax Assets for Unrealized Losses These amendments clarify how an entity should evaluate whether there will be sufficient future taxable profits against which it can utilize a deductible temporary difference. The application of these amendments has had no impact on the consolidated financial statements as the Corporation already assesses the sufficiency of future taxable profits in a way that is consistent with these amendments. (t) Accounting Standards, Interpretations and Amendments to Existing Standards not yet Effective i) IFRS 9, Financial Instruments Effective for annual periods beginning on or after January 1, 2018, IFRS 9 replaces IAS 39 Financial Instruments, Recognition and Measurement. IFRS 9 contains three principal classification categories for financial assets: measured at amortized cost, fair value through other comprehensive income and fair value through profit or loss. The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and the characteristics of its contractual cash flows. IFRS 9 eliminates the previous IAS 39 categories of held to maturity, loans and receivables and available for sale. Under IFRS 9, derivatives embedded in contracts where the host is a financial asset under the standard are never separated. Instead the hybrid financial instrument as a whole is assessed for classification. For Precision, accounts receivable will continue to be classified and measured at amortized cost. Accounts payable and accrued liabilities and long-term debt will also continue to be classified and measured at amortized cost. Impairment IFRS 9 replaces the incurred loss model of IAS 39 with an expected credit loss model. The loss allowance to be recorded against trade receivables is measured as the lifetime expected credit losses. As the Corporation has very short credit periods for trade receivables, it does not expect it a material adjustment to its allowance for credit losses. Hedge accounting IFRS 9 requires entities to ensure its hedge accounting relationships align with its risk management objectives and strategies and to apply a more qualitative and forward-looking approach to assessing hedge effectiveness. This may allow for more types of instruments and risk components to qualify for hedge accounting. Precision does not expect the application of the hedge accounting requirements under IFRS 9 to have a material impact on the consolidated financial statements. IFRS 9 also introduces expanded disclosure requirements and changes in presentation. These are expected to change the nature and extent of the Corporation’s disclosures about its financial instruments. The Corporation is drafting the relevant disclosures to reflect the requirements of the new standard. ii) IFRS 15, Revenue from Contracts with Customers IFRS 15 establishes a single comprehensive model to address how and when to recognize revenue as well as requiring entities to provide users of financial statements with more informative, relevant disclosures in order to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. It replaces existing revenue recognition guidance including IAS 18 Revenue and IAS 11 Construction Contracts. The standard provides a principle based five-step model to be applied to all contracts with customers. This five-step model involves identifying the contract(s) with a customer; identifying the performance obligations in the contract; determining the transaction price; allocating the transaction price to the performance obligations in the contract; and recognizing revenue when (or as) the entity satisfies a performance obligation. Application of this new standard is mandatory for annual reporting periods beginning on or after January 1, 2018. There are two methods by which the new guidance can be adopted: (1) a full retrospective approach with a restatement of all prior periods presented, or (2) a modified retrospective approach with a cumulative-effect adjustment recognized in retained earnings as of the date of adoption. Precision plans to adopt IFRS 15 using the modified retrospective method whereby the cumulative impact of adopting the standard will be recognized in retained earnings as at January 1, 2018 and the comparative periods will not be restated. The Corporation has assessed the estimated impact that the initial application of IFRS 15 will have on its consolidated financial statements. Precision’s evaluation of the new standard included the identification of accounting and disclosure gaps specific to the individual revenue streams of the Corporation, and mapping of its processes to determine whether changes were required to policies, procedures, and controls. Precision recognizes revenue from the following major sources: Contract Drilling Services The Corporation contracts individual drilling rig packages, including crews and support equipment, to its customers. Depending on the customer’s drilling program, contracts may be for a single well, multiple wells or a fixed term. Precision expects that revenue recognition on these contracts under IFRS 15 will be materially the same as revenue recognition under the existing standard. Revenue from contract drilling services will be recognized over time from spud to rig release, on a daily basis. Operating days are measured through the use of industry standard tour sheets that document the daily activity of the rig. Revenue will be recognized at the applicable average day rate for each well, based on rates specified in each contract. The Corporation also provides services under turnkey contracts, whereby Precision is required to drill a well to an agreed upon depth under specified conditions for a fixed price, regardless of the time required or the problems encountered in drilling the well. Revenue from turnkey drilling contracts is recognized over time using the input method based on costs incurred to date in relation to estimated total contract costs, as that most accurately depicts the Corporation’s performance

Recast of Prior Period Amounts

Recast of Prior Period Amounts	12 Months Ended
	Dec. 31, 2017
Disclosure Of Recast Of Prior Period Amounts [Abstract]
Recast of Prior Period Amounts	NOTE 4. RECAST OF PRIOR PERIOD AMOUNTS During the third quarter of 2017, the Corporation changed its treatment of how certain amounts that were historically netted against operating expense should be classified. In particular, certain amounts that were historically netted against operating expenses are now treated as revenue, with a corresponding increase to operating expenses. The primary nature of these amounts related to additional labour charges to customers above our standard drilling crew configuration and subsistence allowances paid to the drilling crew which varies depending on whether the crews were staying in a camp or hotel and equipment rental. As a result previously reported revenues and operating expenses were understated by equivalent amounts. As well, to conform to current year presentation, certain immaterial reclassifications between operating and general administrative expenses have been made in the comparative periods. As a result of these reclassifications, we have recast the prior year comparative amounts as follows: Year ended December 31, 2016 As previously reported Revenue reclassification Expense reclassification As recast Revenue $ 951,411 $ 51,822 $ — $ 1,003,233 Expenses: Operating 607,295 51,822 2,598 661,715 General and administrative 110,287 — (2,598 ) 107,689 Restructuring 5,754 — — 5,754 Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization $ 228,075 $ — $ — $ 228,075 There is no impact on net loss and comprehensive loss and the consolidated statement of financial position, consolidated statement of changes in equity and the consolidated statement of cash flows remain unchanged as a result of this recast.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2017
Disclosure Of Property Plant And Equipment [Abstract]
Property, Plant and Equipment	NOTE 5. PROPERTY, PLANT AND EQUIPMENT 2017 2016 Cost $ 6,733,634 $ 7,011,178 Accumulated depreciation (3,559,810 ) (3,369,289 ) $ 3,173,824 $ 3,641,889 Rig equipment 2,823,782 3,210,933 Rental equipment 60,179 79,398 Other equipment 66,560 85,731 Vehicles 16,280 22,030 Buildings 71,102 82,335 Assets under construction 102,035 126,430 Land 33,886 35,032 $ 3,173,824 $ 3,641,889 Cost Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total Balance, December 31, 2015 $ 6,069,179 $ 171,220 $ 240,192 $ 43,552 $ 131,164 $ 258,952 $ 35,587 $ 6,949,846 Additions 88,277 92 1,092 166 913 112,932 — 203,472 Additions through business acquisition 28,125 — — — — — — 28,125 Re-measurement to fair value before disposal 7,605 — — — — — — 7,605 Disposals (50,384 ) (11,389 ) (4,988 ) (440 ) — — — (67,201 ) Reclassifications 229,012 — 12,874 2,573 702 (245,161 ) — — Effect of foreign currency exchange differences (104,823 ) (779 ) (2,097 ) (704 ) (1,418 ) (293 ) (555 ) (110,669 ) Balance, December 31, 2016 6,266,991 159,144 247,073 45,147 131,361 126,430 35,032 7,011,178 Additions 21,268 71 49 42 235 53,158 — 74,823 Disposals (71,014 ) (9,758 ) (785 ) (339 ) (930 ) — — (82,826 ) Reclassifications 67,779 84 216 113 — (68,566 ) — (374 ) Effect of foreign currency exchange differences (250,858 ) (1,530 ) (1,603 ) (1,762 ) (3,281 ) (8,987 ) (1,146 ) (269,167 ) Balance, December 31, 2017 $ 6,034,166 $ 148,011 $ 244,950 $ 43,201 $ 127,385 $ 102,035 $ 33,886 $ 6,733,634 Accumulated Depreciation Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total Balance, December 31, 2015 $ 2,789,991 $ 74,220 $ 142,846 $ 18,712 $ 40,745 $ — $ — $ 3,066,514 Depreciation expense 342,224 16,039 22,504 5,060 8,591 — — 394,418 Disposals (32,427 ) (10,246 ) (3,241 ) (417 ) — — — (46,331 ) Effect of foreign currency exchange differences (43,730 ) (267 ) (767 ) (238 ) (310 ) — — (45,312 ) Balance, December 31, 2016 3,056,058 79,746 161,342 23,117 49,026 — — 3,369,289 Depreciation expense 334,896 15,159 19,914 5,064 8,488 — — 383,521 Disposals (67,304 ) (6,331 ) (592 ) (320 ) (208 ) — — (74,755 ) Impairment 15,313 — — — — — — 15,313 Effect of foreign currency exchange differences (128,579 ) (742 ) (2,274 ) (940 ) (1,023 ) — — (133,558 ) Balance, December 31, 2017 $ 3,210,384 $ 87,832 $ 178,390 $ 26,921 $ 56,283 $ — $ — $ 3,559,810 Impairment Test Precision reviews the carrying value of its long-lived assets at each reporting period for indicators of impairment. As at December 31, 2017 the Corporation determined that the uncertainty around future activity levels within Mexico was an indicator of impairment and performed a comprehensive assessment of the carrying values of property, plant and equipment of the Mexico drilling CGU within the Contract Drilling Services segment. The recoverable amount was determined using a value in use calculation. Projected cash flows covered a five-year period and were based on future expected outcomes taking into account existing term contracts, past experience and management’s expectation of future market conditions. The primary source of cash flow information was the strategic plan approved by executives of the Corporation. The strategic plan was developed based on benchmark commodity prices and industry supply-demand fundamentals. Cash flows used in the calculation were discounted using a discount rate specific to the Mexico drilling CGU. The discount rate derived from Precision’s weighted average cost of capital, adjusted for risk factors specific to the CGU and used in determining the recoverable amount for the Mexico drilling CGU was 17.1% (2016 – 15.1%). The test resulted in an impairment charge of $15.3 million as the carrying value of the CGU’s assets exceeded its value in use of $26.3 million.

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2017
Disclosure Of Intangible Assets [Abstract]
Intangibles	NOTE 6. INTANGIBLES 2017 2016 Cost $ 39,707 $ 12,345 Accumulated amortization (11,591 ) (9,029 ) $ 28,116 $ 3,316 Loan commitment fees related to Senior Credit Facility $ 3,120 $ 3,316 Software $ 24,996 — $ 28,116 $ 3,316 Cost Loan Commitment Fees Software Total Balance, December 31, 2015 $ 11,131 $ — $ 11,131 Additions 1,214 — 1,214 Balance, December 31, 2016 12,345 — 12,345 Additions 1,793 23,179 24,972 Reclassifications — 2,390 2,390 Balance, December 31, 2017 $ 14,138 $ 25,569 $ 39,707 Accumulated Amortization Loan Commitment Fees Software Total Balance, December 31, 2015 $ 7,768 $ — $ 7,768 Amortization expense 1,261 — 1,261 Balance, December 31, 2016 9,029 — 9,029 Amortization expense 1,989 573 2,562 Balance, December 31, 2017 $ 11,018 $ 573 $ 11,591 During 2017, the Corporation spent $23.2 million upgrading its ERP system. The upgrade is expected to be completed in 2018 at which time an appropriate amortization period will be determined.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2017
Disclosure Of Goodwill [Abstract]
Goodwill	NOTE 7. GOODWILL Balance, December 31, 2015 $ 208,479 Exchange adjustment (1,080 ) Balance, December 31, 2016 207,399 Exchange adjustment (2,232 ) Balance, December 31, 2017 $ 205,167 The carrying value of goodwill is comprised of $172.3 million associated with the Canada contract drilling CGU and $32.9 million associated with the U.S. directional drilling CGU. In performing its annual good will impairment tests, the Corporation used a value in use approach. Projected cash flows covered a five-year period and were based on future expected outcomes taking into account existing term contracts, past experience and management’s expectation of future market conditions. The primary source of cash flow information was the strategic plans approved by executives of the Corporation. These strategic plans were developed based on benchmark commodity prices and industry supply-demand fundamentals. Canada Contract Drilling The Corporation performed its annual goodwill impairment test at December 31, 2017 and determined no impairment was required. The key assumptions used in the calculation of the CGU’s value in use included a discount rate of 9.72% (2016 – 11.6%) and terminal value growth rates of nil (2016- nil). A discount rate higher than 13.44% would have resulted in an impairment of goodwill, with each 0.5% increase resulting in approximately $39.4 million of additional impairment charges. US Directional Drilling The Corporation performed its annual goodwill impairment test at December 31, 2017 and determined no impairment was required. The key assumptions used in the calculation of the CGU’s value in use included a discount rate of 11.72% (2016 – 13.61%) and terminal value growth rates of nil (2016- nil). A discount rate higher than 19.21% would have resulted in an impairment of goodwill, with each 0.5% increase resulting in approximately $0.9 million of additional impairment charges.

Bank Indebtedness

Bank Indebtedness	12 Months Ended
	Dec. 31, 2017
Debt Instruments Held [Abstract]
Bank Indebtedness	NOTE 8. BANK INDEBTEDNESS At December 31, 2017, Precision had available $40.0 million (2016 – $40.0 million) and US$15.0 million (2016 – US$15.0 million) under secured operating facilities, and a secured US$30.0 million (2016 – US$30.0 million) facility for the issuance of letters of credit and performance and bid bonds to support international operations. As at December 31, 2017 and 2016, no amounts had been drawn on any of the facilities. Availability of the $40.0 million and US$30.0 million facility were reduced by outstanding letters of credit in the amount of $20.8 million (2016 – $22.0 million) and US$13.3 million (2016 – US$6.5 million), respectively. The facilities are primarily secured by charges on substantially all present and future property of Precision and its material subsidiaries. Advances under the $40.0 million facility are available at the bank’s prime lending rate, U.S. base rate, U.S. LIBOR plus applicable margin, or Banker’s Acceptance plus applicable margin, or in combination, and under the US$15.0 million facility at the bank’s prime lending rate.

Share Based Compensation Plans

Share Based Compensation Plans	12 Months Ended
	Dec. 31, 2017
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]
Share Based Compensation Plans	NOTE 9. SHARE BASED COMPENSATION PLANS In May 2017 shareholders approved a new omnibus equity incentive plan (Omnibus Plan) that will allow the Corporation to settle short-term incentive awards (annual bonus) and long-term incentive awards (options, performance share unit and restricted share units) issued on or after February 8, 2017 in voting shares of Precision (either issued from treasury or purchased in the open market), cash, or a combination of both. Precision intends to settle all short-term incentive, restricted share unit and non-executive performance share unit awards issued under the Omnibus Plan in cash and to settle performance share awards issued to senior executives and all options in voting shares. No further grants will be made under the legacy stock option plan, performance share unit plan or restricted share unit plan. Vesting conditions for incentive awards issued under the Omnibus Plan are unchanged from what existed under the legacy plans. Liability Classified Plans Restricted Share Units Performance Share Units Share Appreciation Rights Non- Management Directors’ DSUs Total Balance, December 31, 2015 $ 10,459 $ 19,624 $ 6 $ 2,383 $ 32,472 Expensed (recovered) during the period 10,888 18,920 (3 ) 2,219 32,024 Payments (5,755 ) (9,499 ) — — (15,254 ) Balance, December 31, 2016 15,592 29,045 3 4,602 49,242 Expensed (recovered) during the period 2,115 (4,188 ) (3 ) (1,090 ) (3,166 ) Payments (10,757 ) (13,450 ) — — (24,207 ) Balance, December 31, 2017 $ 6,950 $ 11,407 $ — $ 3,512 $ 21,869 Current $ 4,719 $ 3,614 $ — $ — $ 8,333 Long-term 2,231 7,793 — 3,512 13,536 $ 6,950 $ 11,407 $ — $ 3,512 $ 21,869 (a) Restricted Share Units and Performance Share Units Precision has two cash-settled share based incentive plans for officers and other eligible employees. Under the Restricted Share Unit (RSU) incentive plan, shares granted to eligible employees vest annually over a three-year term. Vested shares are automatically paid out in cash at a value determined by the fair market value of the shares at the vesting date. Under the Performance Share Unit (PSU) incentive plan, shares granted to eligible employees vest at the end of a three-year term. Vested shares are automatically paid out in cash in the first quarter following the vested term at a value determined by the fair market value of the shares at the vesting date and based on the number of performance shares held multiplied by a performance factor that ranges from zero to two times. The performance factor is based on Precision’s share price performance compared to a peer group over the three-year period. A summary of the RSUs and PSUs outstanding under these share based incentive plans is presented below: RSUs Outstanding PSUs Outstanding December 31, 2015 2,896,818 4,898,455 Granted 1,911,200 3,443,600 Redeemed (1,311,580 ) (1,136,720 ) Forfeitures (367,399 ) (711,537 ) December 31, 2016 3,129,039 6,493,798 Granted 1,343,669 828,400 Redeemed (1,404,271 ) (1,325,692 ) Forfeitures (271,579 ) (270,247 ) December 31, 2017 2,796,858 5,726,259 (b) Share Appreciation Rights The Corporation has a U.S. dollar denominated Share Appreciation Rights (SAR) plan under which eligible participants were granted SARs that entitle the rights holder to receive cash payments calculated as the excess of the market price over the exercise price per share on the exercise date. The SARs vest over a period of five years and expire 10 years from the date of grant. At December 31, 2017 and 2016 the intrinsic value of these awards was $nil. Share Appreciation Rights Outstanding Range of Exercise Price (US$) Weighted Average Exercise Price (US$) Exercisable December 31, 2015 343,132 $ 15.22 – 17.38 $ 15.93 343,132 Forfeited (89,756 ) 15.22 – 13.26 17.22 December 31, 2016 253,376 15.22 – 15.79 15.47 253,376 Forfeited (117,207 ) 15.22 – 17.38 15.75 December 31, 2017 136,169 $ 15.22 – 15.22 $ 15.22 136,169 Total SARs Outstanding and Exercisable Range of Exercise Prices (US$): Number Weighted Average Exercise Price (US$) Weighted Average Remaining Contractual Life (Years) $ 15.22 – 15.79 136,169 $ 15.22 0.16 (c) Non-Management Directors Effective January 1, 2012, Precision instituted a new deferred share unit (DSU) plan for non-management directors whereby fully vested DSUs are granted quarterly based on an election by the non-management director to receive all or a portion of his or her compensation in DSUs. These DSUs are redeemable in cash or for an equal number of common shares upon the director’s retirement. The redemption of DSUs in cash or common shares is solely at Precision’s discretion. Non-management directors can receive a lump sum payment or two separate payments any time up until December 15 of the year following retirement. If the non-management director does not specify a redemption date, the DSUs will be redeemed on a single date six months after retirement. The cash settlement amount is based on the weighted average trading price for Precision’s shares on the Toronto Stock Exchange for the five days immediately prior to payout. A summary of the DSUs outstanding under this share based incentive plan is presented below: Deferred Share Units Outstanding Balance December 31, 2015 428,028 Granted 193,793 Balance December 31, 2016 621,821 Granted 331,456 Balance December 31, 2017 953,277 Equity Settled Plans (d) Non-Management Directors Prior to January 1, 2012, Precision had a deferred share unit plan for non-management directors. Under the plan, fully vested deferred share units were granted quarterly based on an election by the non-management director to receive all or a portion of his or her compensation in deferred share units. These deferred share units are redeemable into an equal number of common shares any time after the director’s retirement. A summary of this share based incentive plan is presented below: Deferred Share Units Outstanding December 31, 2016 and 2017 195,743 (e) Option Plan The Corporation has a share option plan under which a combined total 16,569,134 options to purchase common shares are reserved to be granted to employees. Of the amount reserved, 13,752,016 options have been granted. Under this plan, the exercise price of each option equals the fair market value of the option at the date of grant determined by the weighted average trading price for the five days preceding the grant. The options are denominated in either Canadian or U.S. dollars, and vest over a period of three years from the date of grant, as employees render continuous service to the Corporation, and have a term of seven years. A summary of the status of the equity incentive plan is presented below : Canadian Share Options Options Outstanding Range of Exercise Prices Weighted Average Exercise Price Options Exercisable December 31, 2015 6,168,596 $ 5.22 – 14.50 $ 8.93 3,870,673 Granted 615,200 4.46 – 4.46 4.46 Exercised (295,768 ) 5.22 – 5.85 5.85 Forfeitures (299,356 ) 5.85 – 11.16 7.57 December 31, 2016 6,188,672 4.46 – 14.50 8.70 4,369,155 Granted 377,100 7.30 – 7.30 7.30 Forfeitures (1,665,412 ) 7.32 – 14.50 8.98 December 31, 2017 4,900,360 $ 4.46 – 14.50 $ 8.50 3,734,019 U.S. Share Options Options Outstanding Range of Exercise Prices (US$) Weighted Average Exercise Price (US$) Options Exercisable December 31, 2015 4,582,237 $ 4.95 – 15.21 $ 8.30 2,468,185 Granted 2,130,700 3.21 – 5.02 3.30 Exercised (31,000 ) 4.95 – 4.95 4.95 Forfeitures (1,344,867 ) 3.21 – 10.74 6.86 December 31, 2016 5,337,070 3.21 – 15.21 6.69 2,626,326 Granted 1,165,900 3.99 – 5.57 5.56 Forfeitures (944,349 ) 5.79 – 10.96 8.42 December 31, 2017 5,558,621 $ 3.21 – 15.21 $ 6.16 2,891,808 The weighted average share price at the date of exercise for share options exercised in 2016 was $6.37 for the Canadian share options and US$5.14 for the U.S. share options. Canadian Share Options Total Options Outstanding Options Exercisable Range of Exercise Prices: Number Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Number Weighted Average Exercise Price $ 4.46 – 7.99 2,153,234 $ 6.50 4.74 986,893 $ 6.73 8.00 – 9.99 830,017 9.02 2.11 830,017 9.02 10.00 – 14.50 1,917,109 10.51 1.45 1,917,109 10.51 $ 4.46 – 14.50 4,900,360 $ 8.50 3.01 3,734,019 $ 9.18 U.S. Share Options Total Options Outstanding Options Exercisable Range of Exercise Prices (US$): Number Weighted Average Exercise Price (US$) Weighted Average Remaining Contractual Life (Years) Number Weighted Average Exercise Price (US$) $ 3.21 – 4.99 1,731,100 $ 3.23 5.16 572,460 $ 3.23 5.00 – 7.99 2,127,900 5.64 5.26 619,727 5.76 8.00 – 15.21 1,699,621 9.79 1.82 1,699,621 9.79 $ 3.21 – 15.21 5,558,621 $ 6.16 4.18 2,891,808 $ 7.63 The per option weighted average fair value of the share options granted during 2017 was $1.59 (2016 – $1.79) estimated on the grant date using the Black-Scholes option pricing model with the following assumptions: average risk-free interest rate of 1% (2016 – 1%), average expected life of four years (2016 – four years), expected forfeiture rate of 5% (2016 – 5%) and expected volatility of 54% (2016 – 50%). Included in net loss for the year ended December 31, 2017 is an expense of $3.2 million (2016 – $4.2 million). (f) Executive Performance Share Units During 2017 Precision granted PSUs to certain senior executives with the intention of settling them in voting shares of the Corporation either issued from treasury or purchased in the open market. These PSUs vest over a three year period and incorporate performance criteria established at the date of grant that can adjust the number of performance share units available for settlement from zero to two times the amount originally granted. A summary of the activity under this share based incentive plan is presented below: Outstanding Weighted Fair Value December 31, 2016 — $ — Granted 1,159,000 6.00 December 31, 2017 1,159,000 $ 6.00 The per unit weighted average fair value of the performance share units granted during 2017 was $6.00 estimated on the grant date using a Monte Carlo simulation with the following assumptions: share price of $5.08, average risk-free interest rate of 1.2%, average expected life of three years, expected volatility of 60%, and an expected dividend yield of nil. Included in net loss for year ended December 31, 2017 is an expense of $1.9 million (2016 - $nil). Employee Share Purchase Plan The Corporation has an employee share purchase plan to encourage employees to become Precision shareholders and to attract and retain people. Under the plan, eligible employees can contribute up to 10% of their regular base salary through payroll deduction with Precision matching 20% of the employee’s contribution. These contributions are used to purchase the Corporation’s shares in the open market. No vesting conditions apply. During 2017, the Corporation recorded compensation expense of $0.8 million (2016 – $0.6 million) related to this plan.

Provisions and Other

Provisions and Other	12 Months Ended
	Dec. 31, 2017
Disclosure Of Other Provisions [Abstract]
Provisions and Other	NOTE 10. PROVISIONS AND OTHER Workers’ Compensation Balance December 31, 2015 $ 18,829 Expensed during the year 2,279 Payment of deductibles and uninsured claims (5,050 ) Effects of foreign currency exchange differences (597 ) Balance December 31, 2016 15,461 Expensed during the year 2,613 Payment of deductibles and uninsured claims (3,929 ) Effects of foreign currency exchange differences (913 ) Balance December 31, 2017 $ 13,232 2017 2016 Current $ 3,146 $ 3,040 Long-term 10,086 12,421 $ 13,232 $ 15,461 Precision maintains a provision for the deductible and uninsured portions of workers’ compensation and general liability claims. The amount accrued for the provision for losses incurred varies depending on the number and nature of the claims outstanding at the balance sheet dates. In addition, the accrual includes management’s estimate of the future cost to settle each claim such as future changes in the severity of the claim and increases in medical costs. Precision uses third parties to assist in developing the estimate of the ultimate costs to settle each claim, which is based on historical experience associated with the type of each claim and specific information related to each claim. The specific circumstances of each claim may change over time prior to settlement and, as a result, the estimates made as of the balance sheet dates may change.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2017
Disclosure Of Long Term Debt [Abstract]
Long-Term Debt	NOTE 11. LONG-TERM DEBT 2017 2016 Senior Credit Facility $ — $ — Unsecured senior notes: 6.625% senior notes due 2020 (US$ nil) — 499,150 6.5% senior notes due 2021 (US$248.6 million) 312,601 427,818 7.75% senior notes due 2023 (US$350.0 million) 440,062 469,945 5.25% senior notes due 2024 (US$400.0 million) 502,928 537,080 7.125% senior notes due 2026 (US$400.0 million) 502,928 — 1,758,519 1,933,993 Less net unamortized debt issue costs (28,082 ) (27,059 ) $ 1,730,437 $ 1,906,934 Senior Credit Facility Unsecured senior notes Debt issue costs Total Balance December 31, 2016 $ — $ 1,933,993 $ (27,059 ) $ 1,906,934 Changes from financing cash flows: Proceeds from issue of senior notes — 509,180 — 509,180 Redemption of senior notes — (571,975 ) — (571,975 ) Payment of debt issue costs — — (9,196 ) (9,196 ) — (62,795 ) (9,196 ) (71,991 ) Loss on redemption of unsecured senior notes — 9,021 — 9,021 Amortization of debt issue costs — — 8,173 8,173 Foreign exchange adjustment — (121,700 ) — (121,700 ) Balance December 31, 2017 $ — $ 1,758,519 $ (28,082 ) $ 1,730,437 (a) Senior Credit Facility: The senior secured revolving credit facility (as amended, the Senior Credit Facility) provides Precision with senior secured financing for general corporate purposes, including for acquisitions, of up to US$500.0 million with a provision for an increase in the facility of up to an additional US$250.0 million. The Senior Credit Facility is secured by charges on substantially all of Precision’s present and future assets and the present and future assets of its material U.S. and Canadian subsidiaries and, if necessary in order to adhere to covenants under the Senior Credit Facility, on certain assets of certain subsidiaries organized in a jurisdiction outside of Canada or the U.S. During 2017, Precision agreed with its lending group to amend certain financial covenants and terms governing its Senior Credit Facility. These amendments among other things: (i) temporarily reduce the Covenant EBITDA (as defined in the debt agreement) to interest expense coverage ratio to the greater of or equal to 1.25:1 for the periods ending March 31, June 30 and September 30, 2017, 1.50:1 for the periods ending December 31, 2017 and March 31, 2018, 2.00:1 for the periods ending June 30, September 30, December 31, 2018 and March 31, 2019 reverting to 2.50:1 thereafter until maturity of the facility; (ii) increase the additional borrowing capacity available under the facility to US$300.0 million after the covenant relief period; (iii) extended the maturity date of the facility to November 21, 2021. The Senior Credit Facility prevents us from making distributions prior to April 1, 2019, after which, distributions are subject to a pro-forma senior net leverage covenant of less than or equal to 1.75:1. The Senior Credit Facility also limits the redemption and repurchase of junior debt subject to a pro-forma senior net leverage covenant test of less than or equal to 1.75:1. In addition, the Senior Credit Facility contains certain covenants that place restrictions on Precision’s ability to incur or assume additional indebtedness; dispose of assets; make or pay dividends, share redemptions or other distributions; change its primary business; incur liens on assets; engage in transactions with affiliates; enter into mergers, consolidations or amalgamations; and enter into speculative swap agreements. At December 31, 2017, Precision was in compliance with the covenants of the Senior Credit Facility. The Senior Credit Facility has a term of four years, with an annual option on Precision’s part to request that the lenders extend, at their discretion, the facility to a new maturity date not to exceed five years from the date of the extension request. The current maturity date of the Senior Credit Facility is November 21, 2021. Under the Senior Credit Facility, amounts can be drawn in U.S. dollars and/or Canadian dollars and, as at December 31, 2017 and 2016 no amounts were drawn under this facility. Up to US$200.0 million of the Senior Credit Facility is available for letters of credit denominated in U.S and/or Canadian dollars and other currencies acceptable to the fronting lender. As at December 31, 2017 outstanding letters of credit amounted to US$20.9 million (2016 – US$41.5 million). The interest rate on loans that are denominated in U.S. dollars is, at the option of Precision, either a margin over a U.S. base rate or a margin over LIBOR. The interest rate on loans denominated in Canadian dollars is, at the option of Precision, either a margin over the Canadian prime rate or a margin over the bankers’ acceptance rate; such margins will be based on the then applicable ratio of consolidated total debt to EBITDA. (b) Unsecured Senior Notes: Precision has outstanding the following unsecured senior notes: 6.5% US$ senior notes due 2021 These notes bear interest at a fixed rate of 6.5% per annum and mature on December 15, 2021. Interest is payable semi-annually on June 15 and December 15 of each year. These notes are unsecured, ranking equally with existing and future senior unsecured indebtedness, and have been guaranteed by current and future U.S. and Canadian subsidiaries that guaranteed the Senior Credit Facility. These notes contain certain covenants that limit Precision’s ability and the ability of certain subsidiaries to incur additional indebtedness and issue preferred stock; create liens; make restricted payments; create or permit to exist restrictions on the ability of Precision or certain subsidiaries to make certain payments and distributions; engage in amalgamations, mergers or consolidations; make certain dispositions and transfers of assets; and engage in transactions with affiliates. If the notes receive an investment grade rating by Standard & Poor’s or Moody’s Investors Service and Precision and its subsidiaries are not in default under the indenture governing the notes, then Precision will not be required to comply with particular covenants contained in the indenture. Precision may redeem these notes in whole or in part before December 15, 2019, at redemption prices ranging between 102.167% and 101.083% of their principal amount plus accrued interest. Any time on or after December 15, 2019, these notes can be redeemed for their principal amount plus accrued interest. Upon specified change of control events, each holder of a note will have the right to sell to Precision all or a portion of its notes at a purchase price in cash equal to 101% of the principal amount, plus accrued interest to the date of purchase. During 2017, Precision redeemed US$70.0 million of these notes for an aggregate purchase price of US$71.8 million. The difference was recognized as a loss on redemption of unsecured senior notes within the consolidated statement of loss. 7.75% US$ senior notes due 2023 These notes bear interest at a fixed rate of 7.75% per annum and mature on December 15, 2023. Interest is payable semi-annually on June 15 and December 15 of each year. These notes are unsecured, ranking equally with existing and future senior unsecured indebtedness, and have been guaranteed by current and future U.S. and Canadian subsidiaries that guaranteed the Senior Credit Facility. These notes contain certain covenants that limit Precision’s ability and the ability of certain subsidiaries to incur additional indebtedness and issue preferred stock; create liens; make restricted payments; create or permit to exist restrictions on the ability of Precision or certain subsidiaries to make certain payments and distributions; engage in amalgamations, mergers or consolidations; make certain dispositions and transfers of assets; and engage in transactions with affiliates. If the notes receive an investment grade rating by Standard & Poor’s or Moody’s Investors Service and Precision and its subsidiaries are not in default under the indenture governing the notes, then Precision will not be required to comply with particular covenants contained in the indenture. Prior to December 15, 2019, Precision may redeem up to 35% of the 7.75% senior notes due 2023 with the net proceeds of certain equity offerings at a redemption price equal to 107.75% of the principal amount plus accrued interest. Prior to December 15, 2019, Precision may redeem these notes in whole or in part at 100.0% of their principal amount, plus accrued interest and the greater of 1.0% of the principal amount of the note to be redeemed and the excess, if any, of the present value of the December 15, 2019 redemption price plus required interest payments through December 15, 2019 (calculated using the U.S. Treasury rate plus 50 basis points) over the principal amount of the note. As well, Precision may redeem these notes in whole or in part at any time on or after December 15, 2019 and before December 15, 2021, at redemption prices ranging between 103.875% and 101.938% of their principal amount plus accrued interest. Any time on or after December 15, 2021, these notes can be redeemed for their principal amount plus accrued interest. Upon specified change of control events, each holder of a note will have the right to sell to Precision all or a portion of its notes at a purchase price in cash equal to 101% of the principal amount, plus accrued interest to the date of purchase. 5.25% US$ senior notes due 2024 These notes bear interest at a fixed rate of 5.25% per annum and mature on November 15, 2024. Interest is payable semi-annually on May 15 and November 15 of each year. These notes are unsecured, ranking equally with existing and future senior unsecured indebtedness, and have been guaranteed by current and future U.S. and Canadian subsidiaries that guaranteed the Senior Credit Facility. These notes contain certain covenants that limit Precision’s ability and the ability of certain subsidiaries to incur additional indebtedness and issue preferred stock; create liens; make restricted payments; create or permit to exist restrictions on the ability of Precision or certain subsidiaries to make certain payments and distributions; engage in amalgamations, mergers or consolidations; make certain dispositions and transfers of assets; and engage in transactions with affiliates. If the notes receive an investment grade rating by Standard & Poor’s or Moody’s Investors Service and Precision and its subsidiaries are not in default under the indenture governing the notes, then Precision will not be required to comply with particular covenants contained in the indenture. Prior to May 15, 2019, Precision may redeem these notes in whole or in part at 100.0% of their principal amount, plus accrued interest and the greater of 1.0% of the principal amount of the note to be redeemed and the excess, if any, of the present value of the May 15, 2019 redemption price plus required interest payments through May 15, 2019 (calculated using the U.S. Treasury rate plus 50 basis points) over the principal amount of the note. As well, Precision may redeem these notes in whole or in part at any time on or after May 15, 2019 and before May 15, 2022, at redemption prices ranging between 102.625% and 100.875% of their principal amount plus accrued interest. Any time on or after May 15, 2022, these notes can be redeemed for their principal amount plus accrued interest. Upon specified change of control events, each holder of a note will have the right to sell to Precision all or a portion of its notes at a purchase price in cash equal to 101% of the principal amount, plus accrued interest to the date of purchase. 7.125% US$ senior notes due 2026 These notes, issued in 2017, bear interest at a fixed rate of 7.125% per annum and mature on January 15, 2026. Interest is payable semi-annually on January 15 and July 15 of each year, commencing July 15, 2018. These notes are unsecured, ranking equally with existing and future senior unsecured indebtedness, and have been guaranteed by current and future U.S. and Canadian subsidiaries that guaranteed the Senior Credit Facility. These notes contain certain covenants that limit Precision’s ability and the ability of certain subsidiaries to incur additional indebtedness and issue preferred stock; create liens; make restricted payments; create or permit to exist restrictions on the ability of Precision or certain subsidiaries to make certain payments and distributions; engage in amalgamations, mergers or consolidations; make certain dispositions and transfers of assets; and engage in transactions with affiliates. If the notes receive an investment grade rating by Standard & Poor’s or Moody’s Investors Service and Precision and its subsidiaries are not in default under the indenture governing the notes, then Precision will not be required to comply with particular covenants contained in the indenture. Prior to November 15, 2020, Precision may redeem up to 35% of the 7.125% senior notes due 2026 with the net proceeds of certain equity offerings at a redemption price equal to 107.125% of the principal amount plus accrued interest. Prior to November 15, 2020, Precision may redeem these notes in whole or in part at 100.0% of their principal amount, plus accrued interest and the greater of 1.0% of the principal amount of the note to be redeemed and the excess, if any, of the present value of the November 15, 2020 redemption price plus required interest payments through November 15, 2020 (calculated using the U.S. Treasury rate plus 50 basis points) over the principal amount of the note. As well, Precision may redeem these notes in whole or in part at any time on or after November 15, 2020 and before November 15, 2022, at redemption prices ranging between 105.344% and 101.781% of their principal amount plus accrued interest. Any time on or after November 15, 2023, these notes can be redeemed for their principal amount plus accrued interest. Upon specified change of control events, each holder of a note will have the right to sell to Precision all or a portion of its notes at a purchase price in cash equal to 101% of the principal amount, plus accrued interest to the date of purchase. The senior notes require that we comply with certain financial covenants including an incurrence based test of Consolidated Interest Coverage Ratio, as defined in the senior note agreements, of greater than or equal to 2.0:1 for the most recent four consecutive fiscal quarters. In the event that our Consolidated Interest Coverage Ratio is less than 2.0:1 for the most recent four consecutive fiscal quarters the senior notes restrict our ability to incur additional indebtedness. As at December 31, 2017, our senior notes Consolidated Interest Coverage Ratio was 2.16:1. The senior notes also contain a restricted payments covenant that limits our ability to make payments in the nature of dividends, distributions and repurchases from shareholders. This restricted payment basket grows by, among other things, 50% of cumulative consolidated net earnings, and decreases by 100% of cumulative consolidated net losses as defined in the note agreements, and cumulative payments made to shareholders. As at December 31, 2017, the restricted payments basket was negative $213 million (2016 – negative $310 million), therefore prohibiting us from making any further dividend payments until the governing restricted payments basket once again becomes positive. No dividends have been declared or paid subsequent to December 31, 2017. During 2017, Precision redeemed all the remaining US$371.8 million 6.625% senior notes due 2020 for an aggregate purchase price of US$377.1 million. The difference was recognized as a loss on redemption of unsecured senior notes within the consolidated statement of loss. Long-term debt obligations at December 31, 2017 will mature as follows: 2021 $ 312,601 Thereafter 1,445,918 $ 1,758,519 (c) Guarantor Disclosures Our unsecured senior notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by all U.S. and Canadian subsidiaries that guaranteed the senior Credit Facility ( Guarantor Subsidiaries Condensed Consolidating Statement of Financial Position as at December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Cash $ 20,843 $ 5,422 $ 38,816 $ — $ 65,081 Other current assets 38,558 261,883 76,221 3 376,665 Intercompany receivables 93,662 2,669,280 84,861 (2,847,803 ) — Investments in subsidiaries 4,822,876 61 — (4,822,937 ) — Property, plant and equipment 64,605 2,659,831 449,917 (529 ) 3,173,824 Intangibles 25,644 2,472 — — 28,116 Goodwill — 205,167 — — 205,167 Other long-term assets — 53,908 3,051 (12,881 ) 44,078 Total assets $ 5,066,188 $ 5,858,024 $ 652,866 $ (7,684,147 ) $ 3,892,931 Liabilities and shareholders’ equity Current liabilities $ 36,331 $ 124,482 $ 48,812 $ — $ 209,625 Intercompany payables and debt 1,795,141 1,000,167 52,495 (2,847,803 ) — Long-term debt 1,730,437 — — — 1,730,437 Other long-term liabilities 135,053 17,978 2,383 (12,881 ) 142,533 Total liabilities 3,696,962 1,142,627 103,690 (2,860,684 ) 2,082,595 Shareholders’ equity 1,369,226 4,715,397 549,176 (4,823,463 ) 1,810,336 Total liabilities and shareholders’ equity $ 5,066,188 $ 5,858,024 $ 652,866 $ (7,684,147 ) $ 3,892,931 Condensed Consolidating Statement of Financial Position as at December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Cash $ 61,794 $ 13,138 $ 40,773 $ — $ 115,705 Other current assets 43,630 210,125 102,147 3 355,905 Intercompany receivables 1,475,431 3,024,724 68,767 (4,568,922 ) — Investments in subsidiaries 4,913,785 60 — (4,913,845 ) — Property, plant and equipment 78,849 3,023,968 539,214 (142 ) 3,641,889 Intangibles 3,316 — — — 3,316 Goodwill — 207,399 — — 207,399 Total assets $ 6,576,805 $ 6,479,414 $ 750,901 $ (9,482,906 ) $ 4,324,214 Liabilities and shareholders’ equity Current liabilities $ 42,657 $ 126,870 $ 71,209 $ — $ 240,736 Intercompany payables and debt 3,071,032 1,412,257 85,633 (4,568,922 ) — Long-term debt 1,906,934 — — — 1,906,934 Other long- term liabilities 181,940 32,781 (295 ) — 214,426 Total liabilities 5,202,563 1,571,908 156,547 (4,568,922 ) 2,362,096 Shareholders’ equity 1,374,242 4,907,506 594,354 (4,913,984 ) 1,962,118 Total liabilities and shareholders’ equity $ 6,576,805 $ 6,479,414 $ 750,901 $ (9,482,906 ) $ 4,324,214 Condensed Consolidating Statement of Loss for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenue $ 89 $ 1,138,049 $ 190,401 $ (7,315 ) $ 1,321,224 Operating expense 138 809,233 124,115 (7,315 ) 926,171 General and administrative expense 35,605 44,932 9,535 — 90,072 Earnings (loss) before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment and depreciation and amortization (35,654 ) 283,884 56,751 — 304,981 Depreciation and amortization 13,118 302,958 61,450 220 377,746 Impairment of property, plant and equipment — 15,313 — — 15,313 Operating loss (48,772 ) (34,387 ) (4,699 ) (220 ) (88,078 ) Foreign exchange (2,375 ) (889 ) 294 — (2,970 ) Finance charges 138,027 (68 ) (31 ) — 137,928 Loss on redemption and repurchase of unsecured senior notes 9,021 — — — 9,021 Equity in loss of subsidiaries (12,383 ) — — 12,383 — Loss before tax (181,062 ) (33,430 ) (4,962 ) (12,603 ) (232,057 ) Income taxes (47,567 ) (59,120 ) 6,666 — (100,021 ) Net loss $ (133,495 ) $ 25,690 $ (11,628 ) $ (12,603 ) $ (132,036 ) Condensed Consolidating Statement of Loss for the Year ended December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenue $ 103 $ 846,867 $ 169,287 $ (13,024 ) $ 1,003,233 Operating expense 160 551,538 123,041 (13,024 ) 661,715 General and administrative expense 37,193 59,323 11,173 — 107,689 Restructuring 285 5,469 — — 5,754 Earnings (loss) before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, gain re-measurement of property, plant and equipment and depreciation and amortization (37,535 ) 230,537 35,073 - 228,075 Depreciation and amortization 13,828 324,649 52,957 225 391,659 Gain on re-measurement of property, plant and equipment — (7,605 ) — — (7,605 ) Operating loss (51,363 ) (86,507 ) (17,884 ) (225 ) (155,979 ) Foreign exchange 6,731 (2,121 ) 1,398 — 6,008 Finance charges 146,053 118 189 — 146,360 Loss on redemption and repurchase of unsecured senior notes 239 — — — 239 Equity in loss of subsidiaries 23,042 — — (23,042 ) — Loss before tax (227,428 ) (84,504 ) (19,471 ) 22,817 (308,586 ) Income taxes (72,098 ) (83,404 ) 2,471 — (153,031 ) Net loss $ (155,330 ) $ (1,100 ) $ (21,942 ) $ 22,817 $ (155,555 ) Condensed Consolidating Statement of Comprehensive Loss for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net loss $ (133,495 ) $ 25,690 $ (11,628 ) $ (12,603 ) $ (132,036 ) Other comprehensive income (loss) 121,699 (110,717 ) (35,661 ) (167 ) (24,846 ) Comprehensive loss $ (11,796 ) $ (85,027 ) $ (47,289 ) $ (12,770 ) $ (156,882 ) Condensed Consolidating Statement of Comprehensive Loss for the Year ended December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net loss $ (155,330 ) $ (1,100 ) $ (21,942 ) $ 22,817 $ (155,555 ) Other comprehensive income (loss) 66,963 (62,459 ) (11,270 ) (2,879 ) (9,645 ) Comprehensive income (loss) $ (88,367 ) $ (63,559 ) $ (33,212 ) $ 19,938 $ (165,200 ) Condensed Consolidating Statement of Cash Flow for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Cash provided by (used in): Operations $ (160,698 ) $ 243,364 $ 33,889 $ — $ 116,555 Investments 191,638 (58,942 ) (11,152 ) (212,694 ) (91,150 ) Financing (73,784 ) (190,360 ) (22,334 ) 212,694 (73,784 ) Effects of exchange rate changes on cash and cash equivalents 1,893 (1,778 ) (2,360 ) — (2,245 ) Decrease in cash and cash equivalents (40,951 ) (7,716 ) (1,957 ) — (50,624 ) Cash and cash equivalents, beginning of year 61,794 13,138 40,773 — 115,705 Cash and cash equivalents, end of year $ 20,843 $ 5,422 $ 38,816 $ — $ 65,081 Condensed Consolidating Statement of Cash Flow for the Year ended December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Cash provided by (used in): Operations $ (185,430 ) $ 298,342 $ 9,596 $ — $ 122,508 Investments 145,451 (65,939 ) (149,151 ) (144,286 ) (213,925 ) Financing (218,324 ) (257,263 ) 112,977 144,286 (218,324 ) Effects of exchange rate changes on cash and cash equivalents (10,661 ) (5,041 ) (3,611 ) — (19,313 ) Increase (decrease) in cash and cash equivalents (268,964 ) (29,901 ) (30,189 ) — (329,054 ) Cash and cash equivalents, beginning of year 330,758 43,039 70,962 — 444,759 Cash and cash equivalents, end of year $ 61,794 $ 13,138 $ 40,773 $ - $ 115,705

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Net Deferred Tax Assets And Liabilities [Abstract]
Income Taxes	NOTE 12. INCOME TAXES The provision for income taxes differs from that which would be expected by applying statutory Canadian income tax rates. A reconciliation of the difference for the years ended December 31, is as follows: 2017 2016 Loss before income taxes $ (232,057 ) $ (308,586 ) Federal and provincial statutory rates 27 % 27 % Tax at statutory rates $ (62,655 ) $ (83,318 ) Adjusted for the effect of: Non-deductible expenses 2,672 3,473 Non-taxable capital gains (175 ) (4,461 ) Income taxed at lower rates (42,334 ) (43,232 ) Impact of foreign tax rates (2,814 ) (23,658 ) Withholding taxes 1,165 1,638 Taxes related to prior years (618 ) (1,227 ) Other 4,738 (2,246 ) Income tax recovery $ (100,021 ) $ (153,031 ) On December 22, 2017, the United States government enacted new tax legislation which affects the taxation of Precision’s U.S. subsidiaries. In additional to changing certain U.S. federal income tax laws, this new tax legislation reduced the U.S. federal income tax rate from 35% to 21% effective January 1, 2018. Precision will also be affected by the provisions within this legislation that will limit the deductibility of interest by its U.S. subsidiaries under its current financing arrangements and repeal the alternative minimum tax. Precision has recorded; a $15.8 million deferred income tax expense on the revaluation of its U.S. subsidiaries net deferred income tax assets which incorporates the reduction in the U.S. federal income tax rate and the expected impact of other applicable provisions within the new U.S tax legislation. The Corporation has also recognized a $2.3 million long-term receivable for the recovery of its U.S. subsidiaries alternative minimum tax carryforward balance. The net deferred tax liability is comprised of the tax effect of the following temporary differences: 2017 2016 Deferred income tax liability: Property, plant and equipment and intangibles $ 454,613 $ 629,967 Debt issue costs 3,352 4,215 Other 6,709 6,159 464,674 640,341 Offsetting of assets and liabilities (345,763 ) (465,723 ) 118,911 174,618 Deferred income tax assets: Losses (expire from time to time up to 2036) 368,133 418,253 Partnership deferrals 335 16,447 Long-term incentive plan 7,935 18,270 Other 11,182 12,753 387,585 465,723 Offsetting of assets and liabilities (345,763 ) (465,723 ) 41,822 — Net deferred income tax liability $ 77,089 $ 174,618 Included in the deferred income tax assets is $38.8 million (2016 – $14.0 million liability) of tax-effected temporary differences related to the Corporation’s U.S. operations. The Corporation has certain loss carryforwards in the U.S. and international locations for which it is unlikely that sufficient future taxable income will be available. Accordingly, the Corporation has not recognized a deferred income tax asset on these losses totaling $31.5 million. The movement in temporary differences is as follows: Property, Plant and Equipment and Intangibles Partnership Deferrals Other Deferred Income Tax Liabilities Losses Debt Issue Costs Long-Term Incentive Plan Other Deferred Income Tax Assets Net Deferred Income Tax Liability Balance, December 31, 2015 637,106 12,604 4,668 (335,966 ) 5,802 (12,477 ) (8,271 ) 303,466 Recognized in net loss 5,960 (29,051 ) 1,483 (88,119 ) (1,587 ) (5,979 ) (4,543 ) (121,836 ) Recognized in other comprehensive loss — — — (2,933 ) — — — (2,933 ) Effect of foreign currency exchange differences (13,099 ) — 8 8,765 — 186 61 (4,079 ) Balance, December 31, 2016 $ 629,967 $ (16,447 ) $ 6,159 $ (418,253 ) $ 4,215 $ (18,270 ) $ (12,753 ) $ 174,618 Recognized in net loss (149,489 ) 16,112 545 24,124 (863 ) 9,651 1,230 (98,690 ) Effect of foreign currency exchange differences (25,865 ) — 5 25,996 — 684 341 1,161 Balance, December 31, 2017 $ 454,613 $ (335 ) $ 6,709 $ (368,133 ) $ 3,352 $ (7,935 ) (11,182 ) $ 77,089 On December 31, 2017, Precision had $2.0 million (2016 – $1.9 million) of unrecognized tax benefits that, if recognized, would have a favourable impact on Precision’s effective income tax rate in future periods. Precision classifies interest accrued on unrecognized tax benefits and income tax penalties as income tax expense. Included in the unrecognized tax benefit, as at December 31, 2017 was interest and penalties of $0.5 million (2016 – $0.4 million). Reconciliation of Uncertain Tax Positions 2017 2016 Unrecognized tax benefits, beginning of year $ 1,923 $ 19,618 Additions: Prior year’s tax positions 57 56 Reductions: Prior year’s tax positions — (17,751 ) Unrecognized tax benefits, end of year $ 1,980 $ 1,923 It is anticipated that approximately $nil (2016 – $nil) of unrecognized tax positions that relate to prior year activities will be realized during the next 12 months. Subject to the results of audit examinations by taxing authorities and/or legislative changes by taxing jurisdictions, Precision does not anticipate further adjustments of unrecognized tax positions during the next 12 months that would have a material impact on the financial statements.

Shareholders' Capital

Shareholders' Capital	12 Months Ended
	Dec. 31, 2017
Disclosure Of Classes Of Share Capital [Abstract]
Shareholders' Capital	NOTE 13. SHAREHOLDERS’ CAPITAL (a) Authorized – unlimited number of voting common shares – unlimited number of preferred shares, issuable in series, limited to an amount equal to one half of the issued and outstanding common shares (b) Issued Common shares Number Amount Balance, December 31, 2016 and 2017 293,238,858 $ 2,319,293 (c) Dividends

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2017
Text Block1 [Abstract]
Accumulated Other Comprehensive Income	NOTE 14. ACCUMULATED OTHER COMPREHENSIVE INCOME Unrealized Foreign Currency Translation Gains (Losses) Foreign Exchange Gain (Loss) on Net Investment Hedge Accumulated Other Comprehensive Income December 31, 2015 $ 663,886 $ (497,785 ) $ 166,101 Other comprehensive loss (76,608 ) 66,963 (9,645 ) December 31, 2016 587,278 (430,822 ) 156,456 Other comprehensive loss (146,545 ) 121,699 (24,846 ) December 31, 2017 $ 440,733 $ (309,123 ) $ 131,610

Finance Charges

Finance Charges	12 Months Ended
	Dec. 31, 2017
Finance Costs [Abstract]
Finance Charges	NOTE 15. FINANCE CHARGES 2017 2016 Interest: Long-term debt $ 128,381 $ 138,335 Other 1,083 226 Income (1,858 ) (3,445 ) Amortization of debt issue costs 10,162 11,244 Other 160 — Finance charges $ 137,928 $ 146,360

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2017
Text Block1 [Abstract]
Employee Benefit Plans	NOTE 16. EMPLOYEE BENEFIT PLANS The Corporation has a defined contribution pension plan covering a significant number of its employees. Under this plan, the Corporation matches individual contributions up to 5% of the employee’s eligible compensation. Total expense under the defined contribution plan in 2017 was $10.4 million (2016 – $8.6 million).

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 17. RELATED PARTY TRANSACTIONS Compensation of Key Management Personnel The remuneration of key management personnel is as follows: 2017 2016 Salaries and other benefits $ 6,078 $ 6,983 Equity settled share based compensation 3,036 2,749 Cash settled share based compensation (3,945 ) 8,629 $ 5,169 $ 18,361 Key management personnel are comprised of the directors and executive officers of the Corporation. Certain executive officers have entered into employment agreements with Precision that provide termination benefits of up to 24 months base salary plus up to two times targeted incentive compensation upon dismissal without cause.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2017
Capital Commitments [Abstract]
Commitments	NOTE 18. COMMITMENTS Operating Lease Commitments The Corporation has commitments under various operating lease agreements, primarily for vehicles and office space. Terms of the office leases run for a period of one to 10 years while the vehicle leases are typically for terms of between three and four years. Expected non-cancellable operating lease payments are as follows: 2017 2016 Less than one year $ 12,248 $ 16,564 Between one and five years 27,445 35,615 Later than five years 21,909 — $ 61,602 $ 52,179 One of the leased properties was sublet by the Corporation. The following amounts were recognized as expenses in respect of operating leases in the consolidated statements of loss: 2017 2016 Operating leases $ 16,311 $ 18,084 Sub-lease recoveries (441 ) (587 ) $ 15,870 $ 17,497 Capital Commitments At December 31, 2017, the Corporation had commitments to purchase property, plant and equipment totaling $132.9 million (2016 – $141.6 million). Payments of $5.2 million for these commitments are expected to be made in 2018, $36.5 million in 2019, $73.0 million in 2020 and $18.2 million in 2021.

Per Share Amounts

Per Share Amounts	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Per Share Amounts	NOTE 19. PER SHARE AMOUNTS The following tables reconcile the net loss and weighted average shares outstanding used in computing basic and diluted loss per share: 2017 2016 Net loss – basic and diluted $ (132,036 ) $ (155,555 ) (Stated in thousands) 2017 2016 Weighted average shares outstanding – basic 293,239 293,133 Effect of stock options and other equity compensation plans — — Weighted average shares outstanding – diluted 293,239 293,133

Segmented Information

Segmented Information	12 Months Ended
	Dec. 31, 2017
Disclosure Of Operating Segments [Abstract]
Segmented Information	NOTE 20. SEGMENTED INFORMATION The Corporation operates primarily in Canada, the United States and certain international locations, in two industry segments; Contract Drilling Services and Completion and Production Services. Contract Drilling Services includes drilling rigs, directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale and repair of drilling equipment. Completion and Production Services includes service rigs, snubbing units, oilfield equipment rental, camp and catering services, and wastewater treatment units. 2017 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Revenue $ 1,173,930 $ 154,146 $ — $ (6,852 ) $ 1,321,224 Operating loss (6,930 ) (17,750 ) (63,398 ) — (88,078 ) Depreciation and amortization 334,587 29,638 13,521 — 377,746 Impairment of property, plant and equipment 15,313 — — — 15,313 Total assets 3,491,393 209,353 192,185 — 3,892,931 Goodwill 205,167 — — — 205,167 Capital expenditures 69,076 4,509 24,417 — 98,002 2016 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Revenue $ 907,821 $ 100,049 $ — $ (4,637 ) $ 1,003,233 Operating loss (51,354 ) (25,316 ) (79,309 ) — (155,979 ) Depreciation and amortization 348,005 29,272 14,382 — 391,659 Total assets 3,914,604 217,064 192,546 — 4,324,214 Goodwill 207,399 — — — 207,399 Capital expenditures* 196,013 1,204 6,255 — 203,472 *- excludes business acquisitions The Corporation’s operations are carried on in the following geographic locations: 2017 Canada United States International Inter- Segment Eliminations Total Revenue $ 578,817 $ 568,573 $ 190,401 $ (16,567 ) $ 1,321,224 Total assets 1,631,838 1,666,368 594,725 — 3,892,931 2016 Canada United States International Inter- Segment Eliminations Total Revenue $ 418,030 $ 426,546 $ 169,286 $ (10,629 ) $ 1,003,233 Total assets 1,738,853 1,861,908 723,453 — 4,324,214 During the years ended December 31, 2017 and 2016, no one individual customer accounted for more than 10% of the Corporation’s total revenue.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2017
Disclosure Of Financial Instruments [Abstract]
Financial Instruments	NOTE 21. FINANCIAL INSTRUMENTS Financial Risk Management The Board of Directors is responsible for identifying the principal risks of Precision’s business and for ensuring the implementation of systems to manage these risks. With the assistance of senior management, who report to the Board of Directors on the risks of Precision’s business, the Board of Directors considers such risks and discusses the management of such risks on a regular basis. Precision has exposure to the following risks from its use of financial instruments: (a) Credit Risk Accounts receivable includes balances from a large number of customers primarily operating in the oil and gas industry. The Corporation manages credit risk by assessing the creditworthiness of its customers before providing services and on an ongoing basis, and by monitoring the amount and age of balances outstanding. In some instances, the Corporation will take additional measures to reduce credit risk including obtaining letters of credit and prepayments from customers. When indicators of credit problems appear, the Corporation takes appropriate steps to reduce its exposure including negotiating with the customer, filing liens and entering into litigation. Precision’s most significant customer accounted for $11.7 million of the trade receivables amount at December 31, 2017 (2016 – $8.6 million). The movement in the allowance for doubtful accounts during the year was as follows: 2017 2016 Balance at January 1 $ 6,072 $ 9,089 Impairment loss recognized 56 188 Amounts written-off as uncollectible (3,296 ) (218 ) Impairment loss reversed (30 ) (2,786 ) Effect of movement in exchange rates (206 ) (201 ) Balance at December 31 $ 2,596 $ 6,072 The ageing of trade receivables at December 31 was as follows: 2017 2016 Gross Provision for Impairment Gross Provision for Impairment Not past due $ 92,880 $ — $ 94,988 $ — Past due 0 – 30 days 66,723 — 38,130 — Past due 31 – 120 days 19,410 580 14,921 — Past due more than 120 days 2,016 2,016 8,175 6,072 $ 181,029 $ 2,596 $ 156,214 $ 6,072 (b) Interest Rate Risk As at December 31, 2017 and 2016, all of Precision’s long-term debt, with the exception of the Senior Credit Facility, bears fixed interest rates. As a result, Precision is not exposed to significant fluctuations in interest expense as a result of changes in interest rates. (c) Foreign Currency Risk The Corporation is primarily exposed to foreign currency fluctuations in relation to the working capital of its foreign operations and certain long-term debt facilities of its Canadian operations. The Corporation has no significant exposures to foreign currencies other than the U.S. dollar. The Corporation monitors its foreign currency exposure and attempts to minimize the impact by aligning appropriate levels of U.S. denominated debt with cash flows from U.S. based operations. The following financial instruments were denominated in U.S. dollars: 2017 2016 Canadian Operations (1) Foreign Operations Canadian Operations (1) Foreign. Operations Cash $ 1,720 $ 39,636 $ 37,583 $ 45,800 Accounts receivable — 152,216 — 144,302 Accounts payable and accrued liabilities (13,221 ) (98,008 ) (20,054 ) (106,635 ) Long-term liabilities, excluding long-term incentive plans — (8,023 ) — (9,251 ) Net foreign currency exposure $ (11,501 ) $ 85,821 $ 17,529 $ 74,216 Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on net loss $ (115 ) $ — $ 175 $ — Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on comprehensive loss $ — $ 858 $ — $ 742 (1) Excludes U.S. dollar long-term debt that has been designated as a hedge of the Corporation’s net investment in certain self-sustaining foreign operations. (d) Liquidity Risk Liquidity risk is the exposure of the Corporation to the risk of not being able to meet its financial obligations as they become due. The Corporation manages liquidity risk by monitoring and reviewing actual and forecasted cash flows to ensure there are available cash resources to meet these needs. The following are the contractual maturities of the Corporation’s financial liabilities and other contractual commitments as at December 31, 2017: 2018 2019 2020 2021 2022 Thereafter Total Accounts payable and accrued liabilities $ 209,625 $ — $ — $ — $ — $ — $ 209,625 Share based compensation 8,658 14,057 4,943 — — — 27,658 Long-term debt — — — 312,601 — 1,445,918 1,758,519 Interest on long-term debt (1) 116,661 116,661 116,661 115,815 96,342 191,185 753,325 Commitments 17,435 45,077 80,019 24,664 5,398 21,909 194,502 Total $ 352,379 $ 175,795 $ 201,623 $ 453,080 $ 101,740 $ 1,659,012 $ 2,943,629 (1) Interest has been calculated based on debt balances, interest rates, and foreign exchange rates in effect as at December 31, 2017 and excludes amortization of long-term debt issue costs. Fair Values The carrying value of cash, accounts receivable, and accounts payable and accrued liabilities approximates their fair value due to the relatively short period to maturity of the instruments. The fair value of the unsecured senior notes at December 31, 2017 was approximately $1,765 million (2016 – $1,917 million). Financial assets and liabilities recorded or disclosed at fair value in the consolidated statements of financial position are categorized based on the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels are based on the amount of subjectivity associated with the inputs in the fair determination and are as follows: Level I—Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level II—Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level III—Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. The estimated fair value of unsecured senior notes is based on level II inputs. The fair value is estimated considering the risk free interest rates on government debt instruments of similar maturities, adjusted for estimated credit risk, industry risk and market risk premiums.

Capital Management

Capital Management	12 Months Ended
	Dec. 31, 2017
Text Block1 [Abstract]
Capital Management	NOTE 22. CAPITAL MANAGEMENT The Corporation’s strategy is to carry a capital base to maintain investor, creditor and market confidence and to sustain future development of the business. The Corporation seeks to maintain a balance between the level of long-term debt and shareholders’ equity to ensure access to capital markets to fund growth and working capital given the cyclical nature of the oilfield services sector. The Corporation strives to maintain a conservative ratio of long-term debt to long-term debt plus equity. As at December 31, 2017 and 2016, these ratios were as follows: 2017 2016 Long-term debt $ 1,730,437 $ 1,906,934 Shareholders’ equity 1,810,336 1,962,118 Total capitalization $ 3,540,773 $ 3,869,052 Long-term debt to long-term debt plus equity ratio 0.49 0.49 As at December 31, 2017, liquidity remained sufficient as Precision had $65.1 million (2016 – $115.7 million) in cash and access to the US$500.0 million Senior Credit Facility (2016 – US$550.0 million) and $96.6 million (2016 – $100.4 million) secured operating facilities. As at December 31, 2017, no amounts (2016 – US$ nil) were drawn on the Senior Credit Facility with availability reduced by US$20.9 million (2016 – US$41.5 million) in outstanding letters of credit. Availability of the $40.0 million secured operating facility and US$30.0 million secured facilitiy for the issuance of letters of credit and performance and bid bonds were reduced by outstanding letters of credit of $20.8 million (2016 – $22.0 million) and US$13.3 million (2016 – US$ 6.5 million), respectively. There was no amount drawn on the US$15.0 million secured operating facility.

Supplemental Information

Supplemental Information	12 Months Ended
	Dec. 31, 2017
Disclosure Of Supplemental Information [Abstract]
Supplemental Information	NOTE 23. SUPPLEMENTAL INFORMATION Components of changes in non-cash working capital balances are as follows: 2017 2016 Accounts receivable $ (41,309 ) $ 11,688 Inventory (3,902 ) (429 ) Accounts payable and accrued liabilities (30,158 ) (3,136 ) $ (75,369 ) $ 8,123 Pertaining to: Operations $ (67,380 ) $ 17,133 Investments $ (7,989 ) $ (9,010 ) The components of accounts receivable are as follows: 2017 2016 Trade $ 178,433 $ 150,142 Accrued trade 91,708 87,685 Prepaids and other 52,444 55,855 $ 322,585 $ 293,682 The components of accounts payable and accrued liabilities are as follows: 2017 2016 Accounts payable $ 87,436 $ 73,239 Accrued liabilities: Payroll 58,550 59,595 Other 63,639 107,902 $ 209,625 $ 240,736 Precision presents expenses in the consolidated statements of earnings by function with the exception of depreciation and amortization, gain on re-measurement of property, plant and equipment, loss on asset decommissioning, and impairment of property, plant and equipment, which are presented by nature. Operating expense and general and administrative expense would include $364.2 million and $13.5 million (2016 – $369.7 million and $14.4 million), respectively, of depreciation and amortization, gain on re-measurement of property, plant and equipment, loss on asset decommissioning and impairment of property, plant and equipment if the statements of earnings were presented purely by function. The following table presents operating and general and administrative expenses by nature: 2017 2016 Wages, salaries and benefits $ 580,482 $ 463,113 Purchased materials, supplies and services 433,827 275,840 Share-based compensation 1,934 36,205 $ 1,016,243 $ 775,158 Allocated to: Operating expense $ 926,171 $ 661,715 General and administrative 90,072 107,689 Restructuring — 5,754 $ 1,016,243 $ 775,158

Contingencies and Guarantees

Contingencies and Guarantees	12 Months Ended
	Dec. 31, 2017
Disclosure Of Contingent Liabilities [Abstract]
Contingencies and Guarantees	NOTE 24. CONTINGENCIES AND GUARANTEES The business and operations of the Corporation are complex and the Corporation has executed a number of significant financings, business combinations, acquisitions and dispositions over the course of its history. The computation of income taxes payable as a result of these transactions involves many complex factors as well as the Corporation’s interpretation of relevant tax legislation and regulations. The Corporation’s management believes that the provision for income tax is adequate and in accordance with IFRS and applicable legislation and regulations. However, there are tax filing positions that have been and can still be the subject of review by taxation authorities who may successfully challenge the Corporation’s interpretation of the applicable tax legislation and regulations, with the result that additional taxes could be payable by the Corporation. The Corporation, through the performance of its services, product sales and business arrangements, is sometimes named as a defendant in litigation. The outcome of such claims against the Corporation is not determinable at this time; however, their ultimate resolution is not expected to have a material adverse effect on the Corporation. The Corporation has entered into agreements indemnifying certain parties primarily with respect to tax and specific third party claims associated with businesses sold by the Corporation. Due to the nature of the indemnifications, the maximum exposure under these agreements cannot be estimated. No amounts have been recorded for the indemnities as the Corporation’s obligations under them are not probable or estimable.

Subsidiaries

Subsidiaries	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Investments In Subsidiaries [Abstract]
Subsidiaries	NOTE 25. SUBSIDIARIES Significant Subsidiaries Ownership Interest Country of Incorporation 2017 2016 Precision Limited Partnership Canada 100 100 Precision Drilling Canada Limited Partnership Canada 100 100 Precision Diversified Oilfield Services Corp. Canada 100 100 Precision Directional Services Ltd. Canada 100 100 Precision Drilling (US) Corporation United States 100 100 Precision Drilling Company LP United States 100 100 Precision Completion & Production Services Ltd. United States 100 100 Precision Directional Services, Inc. United States 100 100 Grey Wolf Drilling Limited Barbados 100 100 Grey Wolf Drilling (Barbados) Ltd. Barbados 100 100

Significant Accounting Polici32

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Accounting Policies [Abstract]
Basis of Consolidation	(a) Basis of Consolidation These consolidated financial statements include the accounts of the Corporation and all of its subsidiaries and partnerships, substantially all of which are wholly-owned. The financial statements of the subsidiaries are prepared for the same period as the parent entity, using consistent accounting policies. All significant intercompany balances and transactions and any unrealized gains and losses arising from intercompany transactions, have been eliminated. Subsidiaries are entities controlled by the Corporation. Control exists when Precision has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, potential voting rights that currently are exercisable are considered. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Precision does not hold investments in any companies where it exerts significant influence and does not hold interests in any special-purpose entities. The acquisition method is used to account for acquisitions of subsidiaries and assets that meet the definition of a business under IFRS. The cost of an acquisition is measured as the fair value of the assets given, equity instruments issued, and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The excess of the cost of acquisition over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized immediately in the statement of earnings. Transaction costs, other than those associated with the issuance of debt or equity securities, that the Corporation incurs in connection with a business combination are expensed as incurred.
Cash and Cash Equivalents	(b) Cash and Cash Equivalents Cash and cash equivalents consist of cash and short-term investments with original maturities of three months or less.
Inventory	(c) Inventory Inventory is primarily comprised of operating supplies and is carried at the lower of average cost, being the cost to acquire the inventory, and net realizable value. Inventory is charged to operating expenses as items are sold or consumed at the amount of the average cost of the item.
Property, Plant and Equipment	(d) Property, Plant and Equipment Property, plant and equipment are carried at cost, less accumulated depreciation and any accumulated impairment losses. Cost includes an expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to a working condition for their intended use, and borrowing costs on qualifying assets. The cost of replacing a part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Corporation, and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of property, plant and equipment (repair and maintenance) are recognized in profit or loss as incurred. Property, plant, and equipment are depreciated as follows: Expected Life Salvage Value Basis of Depreciation Drilling rig equipment: – Power & Tubulars 5 years – straight-line – Dynamic 10 years – straight-line – Structural 20 years 10% straight-line Seasonal, stratification and turnkey drilling equipment 4 years 0 to 20% straight-line Service rig equipment 20 years 10% straight-line Drilling rig spare equipment up to 15 years – straight-line Service rig spare equipment up to 15 years – straight-line Rental equipment 10 to 15 years 0 to 25% straight-line Other equipment 3 to 10 years – straight-line Light duty vehicles 4 years – straight-line Heavy duty vehicles 7 to 10 years – straight-line Buildings 10 to 20 years – straight-line Property, plant and equipment are depreciated based on estimates of useful lives and salvage values. These estimates consider data and information from various sources including vendors, industry practice, and Precision’s own historical experience and may change as more experience is gained, market conditions shift, or technological advancements are made. Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal to the carrying amount of property, plant and equipment, and are recognized in the consolidated statements of loss. Determination of which parts of the drilling rig equipment represent significant cost relative to the entire rig and identifying the consumption patterns along with the useful lives of these significant parts, are matters of judgment. This determination can be complex and subject to differing interpretations and views, particularly when rig equipment comprises individual components for which different depreciation methods or rates are appropriate. The estimated useful lives, residual values and methods of depreciation are reviewed annually, and adjusted prospectively if appropriate.
Intangibles	(e) Intangibles Intangible assets that are acquired by the Corporation with finite lives are initially recorded at estimated fair value and subsequently measured at cost less accumulated amortization and any accumulated impairment losses. Subsequent expenditures are capitalized only when they increase the future economic benefits of the specific asset to which they relate. Intangible assets are amortized based on estimates of useful lives. These estimates consider data and information from various sources including vendors and Precision’s own historical experience and may change as more experience is gained or technological advancements are made. Amortization is recognized in profit and loss using the straight-line method over the estimated useful lives of the respective assets. The estimated useful lives and methods of amortization are reviewed annually and adjusted prospectively if appropriate.
Goodwill	(f) Goodwill Goodwill is the amount that results when the purchase price of an acquired business exceeds the sum of the amounts allocated to the assets acquired, less liabilities assumed, based on their fair values. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, attributed to the cash generating unit ( CGU
Impairment: Financial Assets	i) Financial Assets A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is any objective evidence that it is impaired. A financial asset is tested for impairment if objective evidence indicates that one or more events have had a negative effect on the estimated future cash flows of that asset. Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Corporation on terms that the Corporation would not consider otherwise, and indications that a debtor will enter bankruptcy. Precision considers evidence of impairment for receivables at both a specific asset and collective level. All individually significant receivables are assessed for specific impairment. All significant receivables found not to be specifically impaired are then collectively assessed for impairment by grouping together receivables with similar risk characteristics. An impairment loss in respect of a financial asset measured at amortized cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the original effective interest rate. Individually significant financial assets are tested for impairment on an individual basis. The remaining financial assets are assessed collectively in groups that share similar credit risk characteristics. All impairment losses are recognized in profit or loss. An impairment loss is reversed if the reversal can be related objectively to an event occurring after the impairment loss was recognized. For financial assets measured at amortized cost the reversal is recognized in profit or loss.
Impairment: Non-Financial Assets	ii) Non-Financial Assets The carrying amounts of the Corporation’s non-financial assets, other than inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Judgement is required when evaluating whether a CGU has indications of impairment. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the cash-generating unit). Judgment is required in the aggregation of assets into CGUs. The recoverable amount of an asset or a CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using an after-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Value in use is generally computed by reference to the present value of the future cash flows expected to be derived from the cash generating unit. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognized in prior years are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.
Borrowing Costs	(h) Borrowing Costs Interest and borrowing costs that are directly attributable to the acquisition, construction or production of assets that take a substantial period of time to prepare for their intended use are capitalized as part of the cost of those assets. Capitalization ceases during any extended period of suspension of construction or when substantially all activities necessary to prepare the asset for its intended use are complete. All other interest and borrowing costs are recognized in earnings in the period in which they are incurred.
Income Taxes	(i) Income Taxes Income tax expense is recognized in net earnings except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity. Current tax is the expected tax payable or receivable on the taxable earnings or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized on the initial recognition of assets or liabilities in a transaction that is not a business combination. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in net earnings in the period that includes the date of enactment or substantive enactment. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities that are expected to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The Company is subject to taxation in numerous jurisdictions. Uncertainties exist with respect to the interpretation of complex tax regulations and requires significant judgement. Differences arising between the actual results and the assumptions made, or future changes to such assumptions, could necessitate future adjustments to taxable income and expense already recorded. The Corporation establishes provisions, based on reasonable estimates, for possible consequences of audits by the tax authorities of the respective countries in which it operates. The amount of such provisions is based on various factors, such as experience of previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority.
Revenue Recognition	(j) Revenue Recognition The Corporation’s services are generally sold based on service orders or contracts with a customer that include fixed or determinable prices based on daily, hourly or job rates. Customer contract terms do not include provisions for significant post-service delivery obligations. Revenue is recognized when services and equipment rentals are rendered and only when collectability is reasonably assured. The Corporation also provides services under turnkey contracts whereby it drills a well to an agreed upon depth under specified conditions for a fixed price, regardless of the time required or the problems encountered in drilling the well. Revenue from turnkey drilling contracts is recognized using the percentage-of-completion method based on costs incurred to date and estimated total contract costs. Anticipated losses, if any, on uncompleted contracts are recorded at the time the estimated costs exceed the contract revenue.
Employee Benefit Plans	(k) Employee Benefit Plans Precision sponsors various defined contribution retirement plans for its employees. The Corporation’s contributions to defined contribution plans are expensed as employees earn the entitlement.
Provisions	(l) Provisions Provisions are recognized when the Corporation has a present obligation (legal or constructive) as a result of a past event, when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows.
Share Based Incentive Compensation Plans	(m) Share Based Incentive Compensation Plans The Corporation has established several cash-settled share based incentive compensation plans for non-management directors, officers, and other eligible employees. As estimated by management, the fair values of the amounts payable to eligible participants under these plans are recognized as an expense with a corresponding increase in liabilities over the period that the participants become unconditionally entitled to payment. The recorded liability is re-measured at the end of each reporting period until settlement with the resultant change to the fair value of the liability recognized in net earnings for the period. When the plans are settled, the cash paid reduces the outstanding liability. The Corporation has implemented an employee share purchase plan that allows eligible employees to purchase common shares through payroll deductions. Under this plan, contributions made by employees are matched to a specific percentage by the Corporation. The contributions made by the Corporation are expensed as incurred. Prior to January 1, 2012, the Corporation had an equity-settled deferred share unit plan whereby non-management directors of Precision could elect to receive all or a portion of their compensation in fully-vested deferred share units. Compensation expense was recognized based on the fair value price of the Corporation’s shares at the date of grant with a corresponding increase to contributed surplus. Upon redemption of the deferred share units into common shares, the amount previously recognized in contributed surplus is recorded as an increase to shareholders’ capital. The Corporation continues to have obligations under this plan. A share option plan has been established for certain eligible employees. Under this plan, the fair value of share purchase options is calculated at the date of grant using the Black-Scholes option pricing model, and that value is recorded as compensation expense over the grant’s vesting period with an offsetting credit to contributed surplus. A forfeiture rate is estimated on the grant date and is adjusted to reflect the actual number of options that vest. Upon exercise of the equity purchase option, the associated amount is reclassified from contributed surplus to shareholders’ capital. Consideration paid by employees upon exercise of the equity purchase options is credited to shareholders’ capital.
Foreign Currency Translation	(n) Foreign Currency Translation Transactions of the Corporation’s individual entities are recorded in the currency of the primary economic environment in which it operates (its functional currency). Transactions in currencies other than the entities’ functional currency are translated at rates in effect at the time of the transaction. At each period end, monetary assets and liabilities are translated at the prevailing period-end rates. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Gains and losses are included in net earnings except for gains and losses on translation of long-term debt designated as a hedge of foreign operations, which are deferred and included in other comprehensive income. For the purpose of preparing the Corporation’s consolidated financial statements, the financial statements of each foreign operation that does not have a Canadian dollar functional currency are translated into Canadian dollars. Assets and liabilities are translated at exchange rates in effect at the period end date. Revenues and expenses are translated using average exchange rates for the month of the respective transaction. Gains or losses resulting from these translation adjustments are recognized initially in other comprehensive income and reclassified from equity to net earnings on disposal or partial disposal of the foreign operation.
Per Share Amounts	(o) Per Share Amounts Basic per share amounts are calculated using the weighted average number of shares outstanding during the period. Diluted per share amounts are calculated by using the treasury stock method for equity based compensation arrangements. The treasury stock method assumes that any proceeds obtained on exercise of equity based compensation arrangements would be used to purchase common shares at the average market price during the period. The weighted average number of shares outstanding is then adjusted by the difference between the number of shares issued from the exercise of equity based compensation arrangements and shares repurchased from the related proceeds.
Financial Instruments	(p) Financial Instruments i) Non-Derivative Financial Instruments: Financial assets are classified as either fair value through profit and loss, loans and receivables, held to maturity or available for sale. Financial liabilities are classified as either fair value through profit and loss or other financial liabilities. Non-derivative financial instruments are recognized initially at fair value plus, for instruments not at fair value through profit or loss, any directly attributable transaction costs. Transaction costs attributable to fair value through profit or loss items are expensed as incurred. Subsequent to initial recognition, non-derivative financial instruments are measured based on their classification. Accounts receivable are classified as loans and receivables. After their initial fair value measurement, they are measured at amortized cost using the effective interest rate method. For the Corporation, the measured amount generally corresponds to historical cost. Accounts payable and accrued liabilities and long-term debt are classified as other financial liabilities. After their initial fair value measurement, they are measured at amortized cost using the effective interest rate method. For the Corporation, the measured amount generally corresponds to historical cost. ii) Derivative Financial Instruments: The Corporation may enter into certain financial derivative contracts in order to manage the exposure to market risks from fluctuations in interest rates or exchange rates. These instruments are not used for trading or speculative purposes. Precision has not designated its financial derivative contracts as effective accounting hedges, and thus has not applied hedge accounting, even though it considers certain financial contracts to be economic hedges. As a result, financial derivative contracts are classified as fair value through profit or loss and are recorded on the statement of financial position at estimated fair value. Transaction costs are recognized in profit or loss when incurred. Derivatives embedded in other instruments or host contracts are separated from the host contract and accounted for separately when their economic characteristics and risks are not closely related to the host contract. Embedded derivatives are recorded on the statement of financial position at estimated fair value and changes in the fair value are recognized in earnings.
Hedge Accounting	(q) Hedge Accounting The Corporation utilizes foreign currency long-term debt to hedge its exposure to changes in the carrying values of the Corporation’s net investment in certain foreign operations as a result of changes in foreign exchange rates. To be accounted for as a hedge, the foreign currency long-term debt must be designated and documented as a hedge and must be effective at inception and on an ongoing basis. The documentation defines the relationship between the foreign currency long-term debt and the net investment in the foreign operations, as well as the Corporation’s risk management objective and strategy for undertaking the hedging transaction. The Corporation formally assesses, both at inception and on an ongoing basis, whether the changes in fair value of the foreign currency long-term debt is highly effective in offsetting changes in fair value of the net investment in the foreign operations. The portion of gains or losses on the hedging item that is determined to be an effective hedge is recognized in other comprehensive income, net of tax, and is limited to the translation gain or loss on the net investment, while the ineffective portion is recorded in earnings. If the hedging relationship is terminated or ceases to be effective, hedge accounting is not applied to subsequent gains or losses. The amounts recognized in other comprehensive income are reclassified to net earnings when corresponding exchange gains or losses arising from the translation of the foreign operation are recorded in net earnings.
Critical Accounting Assumptions and Estimates	(r) Critical Accounting Assumptions and Estimates i) Impairment of Long-Lived Assets When indications of impairment exist within a CGU, a recoverable amount is determined and requires assumptions to estimate future discounted cash flows. These estimates and assumptions include future drilling activity, margins and market conditions over the long-term life of the CGU. In selecting a discount rate, we use observable market data inputs to develop a rate that we believe approximates the discount rate from market participants. Although we believe the estimates are reasonable and consistent with current conditions, internal planning, and expected future operations, such estimations are subject to significant uncertainty and judgment. ii) Income taxes Significant estimation and assumptions are required in determining the provision for income taxes. The recognition of deferred tax assets in respect of deductible temporary differences and unused tax losses and credits is based on the Corporation’s estimation of future taxable profit against which these differences, losses and credits may be used. The assessment is based upon existing tax laws and estimates of the Corporation’s future taxable income. These estimates may be materially different from the actual final tax return in future periods.
Amendments to Accounting Standards Adopted January 1, 2017	(s) Amendments to Accounting Standards Adopted January 1, 2017 The Corporation has applied the following mandatorily effective amendments to IFRSs in the current year. Outside of additional disclosure requirements, these amendments had no impact on the amounts recorded in the Corporation’s financial statements. i) Amendments to IAS 7 Disclosure Initiative These amendments require an entity to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both cash and non-cash changes. Precision’s liabilities arising from financing activities consist entirely of long-term debt. A reconciliation between opening and closing balances of long-term debt has been provided in Note 11. Consistent with the transition provisions of the amendments, Precision has not disclosed comparative information for the prior year. ii) Amendments to IAS 12 Recognition of Deferred Tax Assets for Unrealized Losses These amendments clarify how an entity should evaluate whether there will be sufficient future taxable profits against which it can utilize a deductible temporary difference. The application of these amendments has had no impact on the consolidated financial statements as the Corporation already assesses the sufficiency of future taxable profits in a way that is consistent with these amendments.
Accounting Standards, Interpretations and Amendments to Existing Standards not yet Effective	(t) Accounting Standards, Interpretations and Amendments to Existing Standards not yet Effective i) IFRS 9, Financial Instruments Effective for annual periods beginning on or after January 1, 2018, IFRS 9 replaces IAS 39 Financial Instruments, Recognition and Measurement. IFRS 9 contains three principal classification categories for financial assets: measured at amortized cost, fair value through other comprehensive income and fair value through profit or loss. The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and the characteristics of its contractual cash flows. IFRS 9 eliminates the previous IAS 39 categories of held to maturity, loans and receivables and available for sale. Under IFRS 9, derivatives embedded in contracts where the host is a financial asset under the standard are never separated. Instead the hybrid financial instrument as a whole is assessed for classification. For Precision, accounts receivable will continue to be classified and measured at amortized cost. Accounts payable and accrued liabilities and long-term debt will also continue to be classified and measured at amortized cost. Impairment IFRS 9 replaces the incurred loss model of IAS 39 with an expected credit loss model. The loss allowance to be recorded against trade receivables is measured as the lifetime expected credit losses. As the Corporation has very short credit periods for trade receivables, it does not expect it a material adjustment to its allowance for credit losses. Hedge accounting IFRS 9 requires entities to ensure its hedge accounting relationships align with its risk management objectives and strategies and to apply a more qualitative and forward-looking approach to assessing hedge effectiveness. This may allow for more types of instruments and risk components to qualify for hedge accounting. Precision does not expect the application of the hedge accounting requirements under IFRS 9 to have a material impact on the consolidated financial statements. IFRS 9 also introduces expanded disclosure requirements and changes in presentation. These are expected to change the nature and extent of the Corporation’s disclosures about its financial instruments. The Corporation is drafting the relevant disclosures to reflect the requirements of the new standard. ii) IFRS 15, Revenue from Contracts with Customers IFRS 15 establishes a single comprehensive model to address how and when to recognize revenue as well as requiring entities to provide users of financial statements with more informative, relevant disclosures in order to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. It replaces existing revenue recognition guidance including IAS 18 Revenue and IAS 11 Construction Contracts. The standard provides a principle based five-step model to be applied to all contracts with customers. This five-step model involves identifying the contract(s) with a customer; identifying the performance obligations in the contract; determining the transaction price; allocating the transaction price to the performance obligations in the contract; and recognizing revenue when (or as) the entity satisfies a performance obligation. Application of this new standard is mandatory for annual reporting periods beginning on or after January 1, 2018. There are two methods by which the new guidance can be adopted: (1) a full retrospective approach with a restatement of all prior periods presented, or (2) a modified retrospective approach with a cumulative-effect adjustment recognized in retained earnings as of the date of adoption. Precision plans to adopt IFRS 15 using the modified retrospective method whereby the cumulative impact of adopting the standard will be recognized in retained earnings as at January 1, 2018 and the comparative periods will not be restated. The Corporation has assessed the estimated impact that the initial application of IFRS 15 will have on its consolidated financial statements. Precision’s evaluation of the new standard included the identification of accounting and disclosure gaps specific to the individual revenue streams of the Corporation, and mapping of its processes to determine whether changes were required to policies, procedures, and controls. Precision recognizes revenue from the following major sources: Contract Drilling Services The Corporation contracts individual drilling rig packages, including crews and support equipment, to its customers. Depending on the customer’s drilling program, contracts may be for a single well, multiple wells or a fixed term. Precision expects that revenue recognition on these contracts under IFRS 15 will be materially the same as revenue recognition under the existing standard. Revenue from contract drilling services will be recognized over time from spud to rig release, on a daily basis. Operating days are measured through the use of industry standard tour sheets that document the daily activity of the rig. Revenue will be recognized at the applicable average day rate for each well, based on rates specified in each contract. The Corporation also provides services under turnkey contracts, whereby Precision is required to drill a well to an agreed upon depth under specified conditions for a fixed price, regardless of the time required or the problems encountered in drilling the well. Revenue from turnkey drilling contracts is recognized over time using the input method based on costs incurred to date in relation to estimated total contract costs, as that most accurately depicts the Corporation’s performance. As this method is permitted under the new standard, the Corporation will continue in its application, and does not expect this to have a significant impact, if any, on its cumulative-effect adjustment. The Corporation also provides directional drilling services, which include the provision of directional drilling equipment, tools and personnel to the wellsite, and performance of daily directional drilling services. Precision expects that revenue recognition on these contracts under IFRS 15 will be materially the same as revenue recognition under the existing standard. Directional drilling revenue will be recognized over time, upon the daily completion of operating activities. Operating days are to be measured through the use of daily tour sheets. Revenue will be recognized at the applicable day rate, as stipulated in the directional drilling contract. Completion and Production Services The Corporation provides a variety of well completion and production services including well servicing and snubbing. In general, service rigs do not involve long-term contracts or penalties for termination. Precision expects that revenue recognition on these contracts under IFRS 15 will be materially the same as revenue recognition under the existing standard. Revenue will be recognized daily. Operating days are measured through daily tour sheets and field tickets. Revenue will be recognized at the applicable daily or hourly rate, as stipulated in the contract. The Corporation also offers a variety of oilfield equipment for rental to its customers. Precision expects that revenue recognition on these contracts under IFRS 15 will be materially the same as revenue recognition under the existing standard. Rental revenue will be recognized daily. Rental days are measured through field tickets. Revenue will be recognized at the applicable daily rate, as stipulated in the contract. Based on its detailed assessment, the Corporation does not expect the application of IFRS 15 to result in a material impact to its consolidated financial statements. The actual impact of adopting the standard at January 1, 2018 may differ as the accounting policies are subject to change until the Corporation presents its first interim financial statements that include the date of initial application. As a result of the adoption of the new standard, the Corporation will be required to include significant disclosures in the financial statements based on the prescribed requirements. These new disclosures will include information regarding the significant judgments used in evaluating how and when revenues are recognized and information related to contract assets and deferred revenues. In addition, IFRS 15 requires that the Corporation’s revenue recognition policy disclosure includes additional detail regarding the various performance obligations and the nature, amount, timing, and estimates of revenues and cash flows generated from contracts with customers. The Corporation is drafting the relevant disclosures to reflect the requirements of the new standard. iii) IFRS 16, Leases IFRS 16 introduces a comprehensive model for the identification of lease arrangements and accounting treatments for both lessors and lessees. It replaces existing lease guidance including IAS 17 Leases and IFRIC 4 Determining whether an Arrangement Contains a Lease. The new standard is effective for annual periods beginning on or after January 1, 2019. IFRS 16 brings most leases on-balance sheet for lessees under a single model, eliminating the distinction between operating and finance leases. A right-of-use asset and a corresponding liability will be recognized for all leases by the lessee except for short-term leases and leases of low value assets. The Corporation’s initial assessment indicates that many of the operating lease arrangements identified in Note 18 will meet the definition of a lease under IFRS 16 and thus be recognized in the statement of financial position as a right-of-use asset with a corresponding liability. In addition, the nature of expenses related to these arrangements will change as the current presentation of operating lease expense will be replaced with a depreciation charge for the right-of use asset and interest expense on the lease liabilities. As well, the classification of cash flows will be impacted as the current presentation of operating lease payments as operating cash flows will be split into financing (principal portion) and operating (interest portion) cash flows under IFRS 16. Lessor accounting will not significantly change under the new standard. However, some differences may arise upon adoption of IFRS 16 as a result of new guidance on the definition of a lease. Under IFRS 16 a contract is, or contains a lease if the contract conveys control of the use of an identified asset for a period of time in exchange for some form of consideration. Precision is assessing whether this new guidance will impact the treatment of its drilling rigs under long-term contracts. Extensive disclosures will also be required under IFRS 16. Precision plans to apply IFRS 16 initially on January 1, 2019 using the cumulative effect method whereby the cumulative impact of adopting the standard will be recognized in retained earnings as at January 1, 2019 and the comparative periods will not be restated. iv) IFRIC 23, Uncertainty over Income Tax Treatments IFRIC 23 clarifies the accounting for uncertainties in income taxes. The interpretation requires the entity to use the most likely amount or the expected value of the tax treatment if it concludes that it is not probable that a particular tax treatment will be accepted. It requires an entity is to assume that a taxation authority with the right to examine any amounts reported to it will examine those amounts and will have full knowledge of all relevant information when doing so. IFRIC 23 is effective for annual reporting periods beginning on or after 1 January 2019. Earlier application is permitted. The requirements are applied by recognizing the cumulative effect of initially applying them in retained earnings, or in other appropriate components of equity, at the start of the reporting period in which an entity first applies them, without adjusting comparative information. Full retrospective application is permitted, if an entity can do so without using hindsight. The Corporation has yet to determine the impact this standard will have on its consolidated financial statements.

Significant Accounting Polici33

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Accounting Policies [Abstract]
Schedule of Property, Plant and Equipment Depreciation	Property, plant, and equipment are depreciated as follows: Expected Life Salvage Value Basis of Depreciation Drilling rig equipment: – Power & Tubulars 5 years – straight-line – Dynamic 10 years – straight-line – Structural 20 years 10% straight-line Seasonal, stratification and turnkey drilling equipment 4 years 0 to 20% straight-line Service rig equipment 20 years 10% straight-line Drilling rig spare equipment up to 15 years – straight-line Service rig spare equipment up to 15 years – straight-line Rental equipment 10 to 15 years 0 to 25% straight-line Other equipment 3 to 10 years – straight-line Light duty vehicles 4 years – straight-line Heavy duty vehicles 7 to 10 years – straight-line Buildings 10 to 20 years – straight-line

Recast of Prior Period Amounts

Recast of Prior Period Amounts (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Recast Of Prior Period Amounts [Abstract]
Summary of Recast Prior Year Comparative Amounts	As a result of these reclassifications, we have recast the prior year comparative amounts as follows: Year ended December 31, 2016 As previously reported Revenue reclassification Expense reclassification As recast Revenue $ 951,411 $ 51,822 $ — $ 1,003,233 Expenses: Operating 607,295 51,822 2,598 661,715 General and administrative 110,287 — (2,598 ) 107,689 Restructuring 5,754 — — 5,754 Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization $ 228,075 $ — $ — $ 228,075

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Property Plant And Equipment [Abstract]
Schedule of Property, Plant and Equipment	2017 2016 Cost $ 6,733,634 $ 7,011,178 Accumulated depreciation (3,559,810 ) (3,369,289 ) $ 3,173,824 $ 3,641,889 Rig equipment 2,823,782 3,210,933 Rental equipment 60,179 79,398 Other equipment 66,560 85,731 Vehicles 16,280 22,030 Buildings 71,102 82,335 Assets under construction 102,035 126,430 Land 33,886 35,032 $ 3,173,824 $ 3,641,889 Cost Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total Balance, December 31, 2015 $ 6,069,179 $ 171,220 $ 240,192 $ 43,552 $ 131,164 $ 258,952 $ 35,587 $ 6,949,846 Additions 88,277 92 1,092 166 913 112,932 — 203,472 Additions through business acquisition 28,125 — — — — — — 28,125 Re-measurement to fair value before disposal 7,605 — — — — — — 7,605 Disposals (50,384 ) (11,389 ) (4,988 ) (440 ) — — — (67,201 ) Reclassifications 229,012 — 12,874 2,573 702 (245,161 ) — — Effect of foreign currency exchange differences (104,823 ) (779 ) (2,097 ) (704 ) (1,418 ) (293 ) (555 ) (110,669 ) Balance, December 31, 2016 6,266,991 159,144 247,073 45,147 131,361 126,430 35,032 7,011,178 Additions 21,268 71 49 42 235 53,158 — 74,823 Disposals (71,014 ) (9,758 ) (785 ) (339 ) (930 ) — — (82,826 ) Reclassifications 67,779 84 216 113 — (68,566 ) — (374 ) Effect of foreign currency exchange differences (250,858 ) (1,530 ) (1,603 ) (1,762 ) (3,281 ) (8,987 ) (1,146 ) (269,167 ) Balance, December 31, 2017 $ 6,034,166 $ 148,011 $ 244,950 $ 43,201 $ 127,385 $ 102,035 $ 33,886 $ 6,733,634 Accumulated Depreciation Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total Balance, December 31, 2015 $ 2,789,991 $ 74,220 $ 142,846 $ 18,712 $ 40,745 $ — $ — $ 3,066,514 Depreciation expense 342,224 16,039 22,504 5,060 8,591 — — 394,418 Disposals (32,427 ) (10,246 ) (3,241 ) (417 ) — — — (46,331 ) Effect of foreign currency exchange differences (43,730 ) (267 ) (767 ) (238 ) (310 ) — — (45,312 ) Balance, December 31, 2016 3,056,058 79,746 161,342 23,117 49,026 — — 3,369,289 Depreciation expense 334,896 15,159 19,914 5,064 8,488 — — 383,521 Disposals (67,304 ) (6,331 ) (592 ) (320 ) (208 ) — — (74,755 ) Impairment 15,313 — — — — — — 15,313 Effect of foreign currency exchange differences (128,579 ) (742 ) (2,274 ) (940 ) (1,023 ) — — (133,558 ) Balance, December 31, 2017 $ 3,210,384 $ 87,832 $ 178,390 $ 26,921 $ 56,283 $ — $ — $ 3,559,810

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Intangible Assets [Abstract]
Schedule of Intangibles	2017 2016 Cost $ 39,707 $ 12,345 Accumulated amortization (11,591 ) (9,029 ) $ 28,116 $ 3,316 Loan commitment fees related to Senior Credit Facility $ 3,120 $ 3,316 Software $ 24,996 — $ 28,116 $ 3,316 Cost Loan Commitment Fees Software Total Balance, December 31, 2015 $ 11,131 $ — $ 11,131 Additions 1,214 — 1,214 Balance, December 31, 2016 12,345 — 12,345 Additions 1,793 23,179 24,972 Reclassifications — 2,390 2,390 Balance, December 31, 2017 $ 14,138 $ 25,569 $ 39,707 Accumulated Amortization Loan Commitment Fees Software Total Balance, December 31, 2015 $ 7,768 $ — $ 7,768 Amortization expense 1,261 — 1,261 Balance, December 31, 2016 9,029 — 9,029 Amortization expense 1,989 573 2,562 Balance, December 31, 2017 $ 11,018 $ 573 $ 11,591

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Goodwill [Abstract]
Summary of Goodwill	Balance, December 31, 2015 $ 208,479 Exchange adjustment (1,080 ) Balance, December 31, 2016 207,399 Exchange adjustment (2,232 ) Balance, December 31, 2017 $ 205,167

Share Based Compensation Plans

Share Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Disclosure of Liability Classified Plans	Liability Classified Plans Restricted Share Units Performance Share Units Share Appreciation Rights Non- Management Directors’ DSUs Total Balance, December 31, 2015 $ 10,459 $ 19,624 $ 6 $ 2,383 $ 32,472 Expensed (recovered) during the period 10,888 18,920 (3 ) 2,219 32,024 Payments (5,755 ) (9,499 ) — — (15,254 ) Balance, December 31, 2016 15,592 29,045 3 4,602 49,242 Expensed (recovered) during the period 2,115 (4,188 ) (3 ) (1,090 ) (3,166 ) Payments (10,757 ) (13,450 ) — — (24,207 ) Balance, December 31, 2017 $ 6,950 $ 11,407 $ — $ 3,512 $ 21,869 Current $ 4,719 $ 3,614 $ — $ — $ 8,333 Long-term 2,231 7,793 — 3,512 13,536 $ 6,950 $ 11,407 $ — $ 3,512 $ 21,869
Summary of Shares Outstanding Under Share Based Incentive Plans	A summary of the RSUs and PSUs outstanding under these share based incentive plans is presented below: RSUs Outstanding PSUs Outstanding December 31, 2015 2,896,818 4,898,455 Granted 1,911,200 3,443,600 Redeemed (1,311,580 ) (1,136,720 ) Forfeitures (367,399 ) (711,537 ) December 31, 2016 3,129,039 6,493,798 Granted 1,343,669 828,400 Redeemed (1,404,271 ) (1,325,692 ) Forfeitures (271,579 ) (270,247 ) December 31, 2017 2,796,858 5,726,259
Summary of Status of Equity Incentive Plan	A summary of the status of the equity incentive plan is presented below : Canadian Share Options Options Outstanding Range of Exercise Prices Weighted Average Exercise Price Options Exercisable December 31, 2015 6,168,596 $ 5.22 – 14.50 $ 8.93 3,870,673 Granted 615,200 4.46 – 4.46 4.46 Exercised (295,768 ) 5.22 – 5.85 5.85 Forfeitures (299,356 ) 5.85 – 11.16 7.57 December 31, 2016 6,188,672 4.46 – 14.50 8.70 4,369,155 Granted 377,100 7.30 – 7.30 7.30 Forfeitures (1,665,412 ) 7.32 – 14.50 8.98 December 31, 2017 4,900,360 $ 4.46 – 14.50 $ 8.50 3,734,019 U.S. Share Options Options Outstanding Range of Exercise Prices (US$) Weighted Average Exercise Price (US$) Options Exercisable December 31, 2015 4,582,237 $ 4.95 – 15.21 $ 8.30 2,468,185 Granted 2,130,700 3.21 – 5.02 3.30 Exercised (31,000 ) 4.95 – 4.95 4.95 Forfeitures (1,344,867 ) 3.21 – 10.74 6.86 December 31, 2016 5,337,070 3.21 – 15.21 6.69 2,626,326 Granted 1,165,900 3.99 – 5.57 5.56 Forfeitures (944,349 ) 5.79 – 10.96 8.42 December 31, 2017 5,558,621 $ 3.21 – 15.21 $ 6.16 2,891,808
Range of Exercise Prices for Options Outstanding	Canadian Share Options Total Options Outstanding Options Exercisable Range of Exercise Prices: Number Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Number Weighted Average Exercise Price $ 4.46 – 7.99 2,153,234 $ 6.50 4.74 986,893 $ 6.73 8.00 – 9.99 830,017 9.02 2.11 830,017 9.02 10.00 – 14.50 1,917,109 10.51 1.45 1,917,109 10.51 $ 4.46 – 14.50 4,900,360 $ 8.50 3.01 3,734,019 $ 9.18 U.S. Share Options Total Options Outstanding Options Exercisable Range of Exercise Prices (US$): Number Weighted Average Exercise Price (US$) Weighted Average Remaining Contractual Life (Years) Number Weighted Average Exercise Price (US$) $ 3.21 – 4.99 1,731,100 $ 3.23 5.16 572,460 $ 3.23 5.00 – 7.99 2,127,900 5.64 5.26 619,727 5.76 8.00 – 15.21 1,699,621 9.79 1.82 1,699,621 9.79 $ 3.21 – 15.21 5,558,621 $ 6.16 4.18 2,891,808 $ 7.63
Share Appreciation Rights [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Summary of Shares Outstanding Under Share Based Incentive Plans	Share Appreciation Rights Outstanding Range of Exercise Price (US$) Weighted Average Exercise Price (US$) Exercisable December 31, 2015 343,132 $ 15.22 – 17.38 $ 15.93 343,132 Forfeited (89,756 ) 15.22 – 13.26 17.22 December 31, 2016 253,376 15.22 – 15.79 15.47 253,376 Forfeited (117,207 ) 15.22 – 17.38 15.75 December 31, 2017 136,169 $ 15.22 – 15.22 $ 15.22 136,169 Total SARs Outstanding and Exercisable Range of Exercise Prices (US$): Number Weighted Average Exercise Price (US$) Weighted Average Remaining Contractual Life (Years) $ 15.22 – 15.79 136,169 $ 15.22 0.16
Deferred Share Units (DSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Summary of Shares Outstanding Under Share Based Incentive Plans	A summary of the DSUs outstanding under this share based incentive plan is presented below: Deferred Share Units Outstanding Balance December 31, 2015 428,028 Granted 193,793 Balance December 31, 2016 621,821 Granted 331,456 Balance December 31, 2017 953,277
Deferred Share Units (DSUs) [Member] | Equity-Settled Plans [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Summary of Shares Outstanding Under Share Based Incentive Plans	A summary of this share based incentive plan is presented below: Deferred Share Units Outstanding December 31, 2016 and 2017 195,743
Executive Performance Share Units [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Summary of Shares Outstanding Under Share Based Incentive Plans	. A summary of the activity under this share based incentive plan is presented below: Outstanding Weighted Fair Value December 31, 2016 — $ — Granted 1,159,000 6.00 December 31, 2017 1,159,000 $ 6.00

Provisions and Other (Tables)

Provisions and Other (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Other Provisions [Abstract]
Disclosure of Provisions and Other	Workers’ Compensation Balance December 31, 2015 $ 18,829 Expensed during the year 2,279 Payment of deductibles and uninsured claims (5,050 ) Effects of foreign currency exchange differences (597 ) Balance December 31, 2016 15,461 Expensed during the year 2,613 Payment of deductibles and uninsured claims (3,929 ) Effects of foreign currency exchange differences (913 ) Balance December 31, 2017 $ 13,232 2017 2016 Current $ 3,146 $ 3,040 Long-term 10,086 12,421 $ 13,232 $ 15,461

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Long Term Debt [Abstract]
Long-Term Debt	LONG-TERM DEBT 2017 2016 Senior Credit Facility $ — $ — Unsecured senior notes: 6.625% senior notes due 2020 (US$ nil) — 499,150 6.5% senior notes due 2021 (US$248.6 million) 312,601 427,818 7.75% senior notes due 2023 (US$350.0 million) 440,062 469,945 5.25% senior notes due 2024 (US$400.0 million) 502,928 537,080 7.125% senior notes due 2026 (US$400.0 million) 502,928 — 1,758,519 1,933,993 Less net unamortized debt issue costs (28,082 ) (27,059 ) $ 1,730,437 $ 1,906,934 Senior Credit Facility Unsecured senior notes Debt issue costs Total Balance December 31, 2016 $ — $ 1,933,993 $ (27,059 ) $ 1,906,934 Changes from financing cash flows: Proceeds from issue of senior notes — 509,180 — 509,180 Redemption of senior notes — (571,975 ) — (571,975 ) Payment of debt issue costs — — (9,196 ) (9,196 ) — (62,795 ) (9,196 ) (71,991 ) Loss on redemption of unsecured senior notes — 9,021 — 9,021 Amortization of debt issue costs — — 8,173 8,173 Foreign exchange adjustment — (121,700 ) — (121,700 ) Balance December 31, 2017 $ — $ 1,758,519 $ (28,082 ) $ 1,730,437
Long-Term Debt Obligations	Long-term debt obligations at December 31, 2017 will mature as follows: 2021 $ 312,601 Thereafter 1,445,918 $ 1,758,519
Condensed Consolidating Statement of Financial Position	Condensed Consolidating Statement of Financial Position as at December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Cash $ 20,843 $ 5,422 $ 38,816 $ — $ 65,081 Other current assets 38,558 261,883 76,221 3 376,665 Intercompany receivables 93,662 2,669,280 84,861 (2,847,803 ) — Investments in subsidiaries 4,822,876 61 — (4,822,937 ) — Property, plant and equipment 64,605 2,659,831 449,917 (529 ) 3,173,824 Intangibles 25,644 2,472 — — 28,116 Goodwill — 205,167 — — 205,167 Other long-term assets — 53,908 3,051 (12,881 ) 44,078 Total assets $ 5,066,188 $ 5,858,024 $ 652,866 $ (7,684,147 ) $ 3,892,931 Liabilities and shareholders’ equity Current liabilities $ 36,331 $ 124,482 $ 48,812 $ — $ 209,625 Intercompany payables and debt 1,795,141 1,000,167 52,495 (2,847,803 ) — Long-term debt 1,730,437 — — — 1,730,437 Other long-term liabilities 135,053 17,978 2,383 (12,881 ) 142,533 Total liabilities 3,696,962 1,142,627 103,690 (2,860,684 ) 2,082,595 Shareholders’ equity 1,369,226 4,715,397 549,176 (4,823,463 ) 1,810,336 Total liabilities and shareholders’ equity $ 5,066,188 $ 5,858,024 $ 652,866 $ (7,684,147 ) $ 3,892,931 Condensed Consolidating Statement of Financial Position as at December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Cash $ 61,794 $ 13,138 $ 40,773 $ — $ 115,705 Other current assets 43,630 210,125 102,147 3 355,905 Intercompany receivables 1,475,431 3,024,724 68,767 (4,568,922 ) — Investments in subsidiaries 4,913,785 60 — (4,913,845 ) — Property, plant and equipment 78,849 3,023,968 539,214 (142 ) 3,641,889 Intangibles 3,316 — — — 3,316 Goodwill — 207,399 — — 207,399 Total assets $ 6,576,805 $ 6,479,414 $ 750,901 $ (9,482,906 ) $ 4,324,214 Liabilities and shareholders’ equity Current liabilities $ 42,657 $ 126,870 $ 71,209 $ — $ 240,736 Intercompany payables and debt 3,071,032 1,412,257 85,633 (4,568,922 ) — Long-term debt 1,906,934 — — — 1,906,934 Other long- term liabilities 181,940 32,781 (295 ) — 214,426 Total liabilities 5,202,563 1,571,908 156,547 (4,568,922 ) 2,362,096 Shareholders’ equity 1,374,242 4,907,506 594,354 (4,913,984 ) 1,962,118 Total liabilities and shareholders’ equity $ 6,576,805 $ 6,479,414 $ 750,901 $ (9,482,906 ) $ 4,324,214
Condensed Consolidating Statement of Loss	Condensed Consolidating Statement of Loss for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenue $ 89 $ 1,138,049 $ 190,401 $ (7,315 ) $ 1,321,224 Operating expense 138 809,233 124,115 (7,315 ) 926,171 General and administrative expense 35,605 44,932 9,535 — 90,072 Earnings (loss) before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment and depreciation and amortization (35,654 ) 283,884 56,751 — 304,981 Depreciation and amortization 13,118 302,958 61,450 220 377,746 Impairment of property, plant and equipment — 15,313 — — 15,313 Operating loss (48,772 ) (34,387 ) (4,699 ) (220 ) (88,078 ) Foreign exchange (2,375 ) (889 ) 294 — (2,970 ) Finance charges 138,027 (68 ) (31 ) — 137,928 Loss on redemption and repurchase of unsecured senior notes 9,021 — — — 9,021 Equity in loss of subsidiaries (12,383 ) — — 12,383 — Loss before tax (181,062 ) (33,430 ) (4,962 ) (12,603 ) (232,057 ) Income taxes (47,567 ) (59,120 ) 6,666 — (100,021 ) Net loss $ (133,495 ) $ 25,690 $ (11,628 ) $ (12,603 ) $ (132,036 ) Condensed Consolidating Statement of Loss for the Year ended December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenue $ 103 $ 846,867 $ 169,287 $ (13,024 ) $ 1,003,233 Operating expense 160 551,538 123,041 (13,024 ) 661,715 General and administrative expense 37,193 59,323 11,173 — 107,689 Restructuring 285 5,469 — — 5,754 Earnings (loss) before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, gain re-measurement of property, plant and equipment and depreciation and amortization (37,535 ) 230,537 35,073 - 228,075 Depreciation and amortization 13,828 324,649 52,957 225 391,659 Gain on re-measurement of property, plant and equipment — (7,605 ) — — (7,605 ) Operating loss (51,363 ) (86,507 ) (17,884 ) (225 ) (155,979 ) Foreign exchange 6,731 (2,121 ) 1,398 — 6,008 Finance charges 146,053 118 189 — 146,360 Loss on redemption and repurchase of unsecured senior notes 239 — — — 239 Equity in loss of subsidiaries 23,042 — — (23,042 ) — Loss before tax (227,428 ) (84,504 ) (19,471 ) 22,817 (308,586 ) Income taxes (72,098 ) (83,404 ) 2,471 — (153,031 ) Net loss $ (155,330 ) $ (1,100 ) $ (21,942 ) $ 22,817 $ (155,555 )
Condensed Consolidating Statement of Comprehensive Loss	Condensed Consolidating Statement of Comprehensive Loss for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net loss $ (133,495 ) $ 25,690 $ (11,628 ) $ (12,603 ) $ (132,036 ) Other comprehensive income (loss) 121,699 (110,717 ) (35,661 ) (167 ) (24,846 ) Comprehensive loss $ (11,796 ) $ (85,027 ) $ (47,289 ) $ (12,770 ) $ (156,882 ) Condensed Consolidating Statement of Comprehensive Loss for the Year ended December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net loss $ (155,330 ) $ (1,100 ) $ (21,942 ) $ 22,817 $ (155,555 ) Other comprehensive income (loss) 66,963 (62,459 ) (11,270 ) (2,879 ) (9,645 ) Comprehensive income (loss) $ (88,367 ) $ (63,559 ) $ (33,212 ) $ 19,938 $ (165,200 )
Condensed Consolidating Statement of Cash Flow	Condensed Consolidating Statement of Cash Flow for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Cash provided by (used in): Operations $ (160,698 ) $ 243,364 $ 33,889 $ — $ 116,555 Investments 191,638 (58,942 ) (11,152 ) (212,694 ) (91,150 ) Financing (73,784 ) (190,360 ) (22,334 ) 212,694 (73,784 ) Effects of exchange rate changes on cash and cash equivalents 1,893 (1,778 ) (2,360 ) — (2,245 ) Decrease in cash and cash equivalents (40,951 ) (7,716 ) (1,957 ) — (50,624 ) Cash and cash equivalents, beginning of year 61,794 13,138 40,773 — 115,705 Cash and cash equivalents, end of year $ 20,843 $ 5,422 $ 38,816 $ — $ 65,081 Condensed Consolidating Statement of Cash Flow for the Year ended December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Cash provided by (used in): Operations $ (185,430 ) $ 298,342 $ 9,596 $ — $ 122,508 Investments 145,451 (65,939 ) (149,151 ) (144,286 ) (213,925 ) Financing (218,324 ) (257,263 ) 112,977 144,286 (218,324 ) Effects of exchange rate changes on cash and cash equivalents (10,661 ) (5,041 ) (3,611 ) — (19,313 ) Increase (decrease) in cash and cash equivalents (268,964 ) (29,901 ) (30,189 ) — (329,054 ) Cash and cash equivalents, beginning of year 330,758 43,039 70,962 — 444,759 Cash and cash equivalents, end of year $ 61,794 $ 13,138 $ 40,773 $ - $ 115,705

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Net Deferred Tax Assets And Liabilities [Abstract]
Schedule of Provision for Income Taxes	A reconciliation of the difference for the years ended December 31, is as follows: 2017 2016 Loss before income taxes $ (232,057 ) $ (308,586 ) Federal and provincial statutory rates 27 % 27 % Tax at statutory rates $ (62,655 ) $ (83,318 ) Adjusted for the effect of: Non-deductible expenses 2,672 3,473 Non-taxable capital gains (175 ) (4,461 ) Income taxed at lower rates (42,334 ) (43,232 ) Impact of foreign tax rates (2,814 ) (23,658 ) Withholding taxes 1,165 1,638 Taxes related to prior years (618 ) (1,227 ) Other 4,738 (2,246 ) Income tax recovery $ (100,021 ) $ (153,031 )
Summary of Net Deferred Tax Liability	The net deferred tax liability is comprised of the tax effect of the following temporary differences: 2017 2016 Deferred income tax liability: Property, plant and equipment and intangibles $ 454,613 $ 629,967 Debt issue costs 3,352 4,215 Other 6,709 6,159 464,674 640,341 Offsetting of assets and liabilities (345,763 ) (465,723 ) 118,911 174,618 Deferred income tax assets: Losses (expire from time to time up to 2036) 368,133 418,253 Partnership deferrals 335 16,447 Long-term incentive plan 7,935 18,270 Other 11,182 12,753 387,585 465,723 Offsetting of assets and liabilities (345,763 ) (465,723 ) 41,822 — Net deferred income tax liability $ 77,089 $ 174,618
Summary of Movement in Temporary Differences of Deferred Tax Liabilities	The movement in temporary differences is as follows: Property, Plant and Equipment and Intangibles Partnership Deferrals Other Deferred Income Tax Liabilities Losses Debt Issue Costs Long-Term Incentive Plan Other Deferred Income Tax Assets Net Deferred Income Tax Liability Balance, December 31, 2015 637,106 12,604 4,668 (335,966 ) 5,802 (12,477 ) (8,271 ) 303,466 Recognized in net loss 5,960 (29,051 ) 1,483 (88,119 ) (1,587 ) (5,979 ) (4,543 ) (121,836 ) Recognized in other comprehensive loss — — — (2,933 ) — — — (2,933 ) Effect of foreign currency exchange differences (13,099 ) — 8 8,765 — 186 61 (4,079 ) Balance, December 31, 2016 $ 629,967 $ (16,447 ) $ 6,159 $ (418,253 ) $ 4,215 $ (18,270 ) $ (12,753 ) $ 174,618 Recognized in net loss (149,489 ) 16,112 545 24,124 (863 ) 9,651 1,230 (98,690 ) Effect of foreign currency exchange differences (25,865 ) — 5 25,996 — 684 341 1,161 Balance, December 31, 2017 $ 454,613 $ (335 ) $ 6,709 $ (368,133 ) $ 3,352 $ (7,935 ) (11,182 ) $ 77,089
Summary of Reconciliation of Unrecognized Tax Benefits	Reconciliation of Uncertain Tax Positions 2017 2016 Unrecognized tax benefits, beginning of year $ 1,923 $ 19,618 Additions: Prior year’s tax positions 57 56 Reductions: Prior year’s tax positions — (17,751 ) Unrecognized tax benefits, end of year $ 1,980 $ 1,923

Shareholders' Capital (Tables)

Shareholders' Capital (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Classes Of Share Capital [Abstract]
Schedule of Issued Capital	Common shares Number Amount Balance, December 31, 2016 and 2017 293,238,858 $ 2,319,293

Accumulated Other Comprehensi43

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2017
Text Block1 [Abstract]
Summary of Accumulated Other Comprehensive Income	Unrealized Foreign Currency Translation Gains (Losses) Foreign Exchange Gain (Loss) on Net Investment Hedge Accumulated Other Comprehensive Income December 31, 2015 $ 663,886 $ (497,785 ) $ 166,101 Other comprehensive loss (76,608 ) 66,963 (9,645 ) December 31, 2016 587,278 (430,822 ) 156,456 Other comprehensive loss (146,545 ) 121,699 (24,846 ) December 31, 2017 $ 440,733 $ (309,123 ) $ 131,610

Finance Charges (Tables)

Finance Charges (Tables)	12 Months Ended
	Dec. 31, 2017
Finance Costs [Abstract]
Summary of Finance Charges	2017 2016 Interest: Long-term debt $ 128,381 $ 138,335 Other 1,083 226 Income (1,858 ) (3,445 ) Amortization of debt issue costs 10,162 11,244 Other 160 — Finance charges $ 137,928 $ 146,360

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Compensation of Key Management Personnel	The remuneration of key management personnel is as follows: 2017 2016 Salaries and other benefits $ 6,078 $ 6,983 Equity settled share based compensation 3,036 2,749 Cash settled share based compensation (3,945 ) 8,629 $ 5,169 $ 18,361

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2017
Capital Commitments [Abstract]
Expected Non-cancellable Operating Lease Payments	Expected non-cancellable operating lease payments are as follows: 2017 2016 Less than one year $ 12,248 $ 16,564 Between one and five years 27,445 35,615 Later than five years 21,909 — $ 61,602 $ 52,179
Amounts Recognized as Expenses in Respect of Operating Leases	The following amounts were recognized as expenses in respect of operating leases in the consolidated statements of loss: 2017 2016 Operating leases $ 16,311 $ 18,084 Sub-lease recoveries (441 ) (587 ) $ 15,870 $ 17,497

Per Share Amounts (Tables)

Per Share Amounts (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Summary of Per Share Amounts	The following tables reconcile the net loss and weighted average shares outstanding used in computing basic and diluted loss per share: 2017 2016 Net loss – basic and diluted $ (132,036 ) $ (155,555 ) (Stated in thousands) 2017 2016 Weighted average shares outstanding – basic 293,239 293,133 Effect of stock options and other equity compensation plans — — Weighted average shares outstanding – diluted 293,239 293,133

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Operating Segments [Abstract]
Summary of Operating Segments	The Corporation operates primarily in Canada, the United States and certain international locations, in two industry segments; Contract Drilling Services and Completion and Production Services. Contract Drilling Services includes drilling rigs, directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale and repair of drilling equipment. Completion and Production Services includes service rigs, snubbing units, oilfield equipment rental, camp and catering services, and wastewater treatment units. 2017 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Revenue $ 1,173,930 $ 154,146 $ — $ (6,852 ) $ 1,321,224 Operating loss (6,930 ) (17,750 ) (63,398 ) — (88,078 ) Depreciation and amortization 334,587 29,638 13,521 — 377,746 Impairment of property, plant and equipment 15,313 — — — 15,313 Total assets 3,491,393 209,353 192,185 — 3,892,931 Goodwill 205,167 — — — 205,167 Capital expenditures 69,076 4,509 24,417 — 98,002 2016 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Revenue $ 907,821 $ 100,049 $ — $ (4,637 ) $ 1,003,233 Operating loss (51,354 ) (25,316 ) (79,309 ) — (155,979 ) Depreciation and amortization 348,005 29,272 14,382 — 391,659 Total assets 3,914,604 217,064 192,546 — 4,324,214 Goodwill 207,399 — — — 207,399 Capital expenditures* 196,013 1,204 6,255 — 203,472 *- excludes business acquisitions
Summary of Operating Segments by Geographic Locations	The Corporation’s operations are carried on in the following geographic locations: 2017 Canada United States International Inter- Segment Eliminations Total Revenue $ 578,817 $ 568,573 $ 190,401 $ (16,567 ) $ 1,321,224 Total assets 1,631,838 1,666,368 594,725 — 3,892,931 2016 Canada United States International Inter- Segment Eliminations Total Revenue $ 418,030 $ 426,546 $ 169,286 $ (10,629 ) $ 1,003,233 Total assets 1,738,853 1,861,908 723,453 — 4,324,214

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Financial Instruments [Abstract]
Summary of Allowance for Doubtful Accounts	The movement in the allowance for doubtful accounts during the year was as follows: 2017 2016 Balance at January 1 $ 6,072 $ 9,089 Impairment loss recognized 56 188 Amounts written-off as uncollectible (3,296 ) (218 ) Impairment loss reversed (30 ) (2,786 ) Effect of movement in exchange rates (206 ) (201 ) Balance at December 31 $ 2,596 $ 6,072
Summary of Ageing of Trade Receivables	The ageing of trade receivables at December 31 was as follows: 2017 2016 Gross Provision for Impairment Gross Provision for Impairment Not past due $ 92,880 $ — $ 94,988 $ — Past due 0 – 30 days 66,723 — 38,130 — Past due 31 – 120 days 19,410 580 14,921 — Past due more than 120 days 2,016 2,016 8,175 6,072 $ 181,029 $ 2,596 $ 156,214 $ 6,072
Summary of Financial Instruments were Denominated in U S Dollars	The following financial instruments were denominated in U.S. dollars: 2017 2016 Canadian Operations (1) Foreign Operations Canadian Operations (1) Foreign. Operations Cash $ 1,720 $ 39,636 $ 37,583 $ 45,800 Accounts receivable — 152,216 — 144,302 Accounts payable and accrued liabilities (13,221 ) (98,008 ) (20,054 ) (106,635 ) Long-term liabilities, excluding long-term incentive plans — (8,023 ) — (9,251 ) Net foreign currency exposure $ (11,501 ) $ 85,821 $ 17,529 $ 74,216 Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on net loss $ (115 ) $ — $ 175 $ — Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on comprehensive loss $ — $ 858 $ — $ 742 (1) Excludes U.S. dollar long-term debt that has been designated as a hedge of the Corporation’s net investment in certain self-sustaining foreign operations.
Summary of Contractual Maturities of Financial Liabilities and other contractual commitments	The following are the contractual maturities of the Corporation’s financial liabilities and other contractual commitments as at December 31, 2017: 2018 2019 2020 2021 2022 Thereafter Total Accounts payable and accrued liabilities $ 209,625 $ — $ — $ — $ — $ — $ 209,625 Share based compensation 8,658 14,057 4,943 — — — 27,658 Long-term debt — — — 312,601 — 1,445,918 1,758,519 Interest on long-term debt (1) 116,661 116,661 116,661 115,815 96,342 191,185 753,325 Commitments 17,435 45,077 80,019 24,664 5,398 21,909 194,502 Total $ 352,379 $ 175,795 $ 201,623 $ 453,080 $ 101,740 $ 1,659,012 $ 2,943,629 (1) Interest has been calculated based on debt balances, interest rates, and foreign exchange rates in effect as at December 31, 2017 and excludes amortization of long-term debt issue costs.

Capital Management (Tables)

Capital Management (Tables)	12 Months Ended
	Dec. 31, 2017
Text Block1 [Abstract]
Summary of Capitalisation and Ratio	As at December 31, 2017 and 2016, these ratios were as follows: 2017 2016 Long-term debt $ 1,730,437 $ 1,906,934 Shareholders’ equity 1,810,336 1,962,118 Total capitalization $ 3,540,773 $ 3,869,052 Long-term debt to long-term debt plus equity ratio 0.49 0.49

Supplemental Information (Table

Supplemental Information (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Supplemental Information [Abstract]
Components of Changes in Non-cash Working Capital Balances	Components of changes in non-cash working capital balances are as follows: 2017 2016 Accounts receivable $ (41,309 ) $ 11,688 Inventory (3,902 ) (429 ) Accounts payable and accrued liabilities (30,158 ) (3,136 ) $ (75,369 ) $ 8,123 Pertaining to: Operations $ (67,380 ) $ 17,133 Investments $ (7,989 ) $ (9,010 )
Components of Accounts Receivable	The components of accounts receivable are as follows: 2017 2016 Trade $ 178,433 $ 150,142 Accrued trade 91,708 87,685 Prepaids and other 52,444 55,855 $ 322,585 $ 293,682
Disclosure Of Trade And Other Current Liabilities Explanatory	The components of accounts payable and accrued liabilities are as follows: 2017 2016 Accounts payable $ 87,436 $ 73,239 Accrued liabilities: Payroll 58,550 59,595 Other 63,639 107,902 $ 209,625 $ 240,736
Summary of Operating and General and Administrative Expenses	The following table presents operating and general and administrative expenses by nature: 2017 2016 Wages, salaries and benefits $ 580,482 $ 463,113 Purchased materials, supplies and services 433,827 275,840 Share-based compensation 1,934 36,205 $ 1,016,243 $ 775,158 Allocated to: Operating expense $ 926,171 $ 661,715 General and administrative 90,072 107,689 Restructuring — 5,754 $ 1,016,243 $ 775,158

Subsidiaries (Tables)

Subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Investments In Subsidiaries [Abstract]
Summary of Subsidiaries	Ownership Interest Country of Incorporation 2017 2016 Precision Limited Partnership Canada 100 100 Precision Drilling Canada Limited Partnership Canada 100 100 Precision Diversified Oilfield Services Corp. Canada 100 100 Precision Directional Services Ltd. Canada 100 100 Precision Drilling (US) Corporation United States 100 100 Precision Drilling Company LP United States 100 100 Precision Completion & Production Services Ltd. United States 100 100 Precision Directional Services, Inc. United States 100 100 Grey Wolf Drilling Limited Barbados 100 100 Grey Wolf Drilling (Barbados) Ltd. Barbados 100 100

Significant Accounting Polici53

Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Accounting Policies [Abstract]
Cash and cash equivalents orginal maturity	three months or less

Summary of Property, Plant, and

Summary of Property, Plant, and Equipment Expected Life Salvage Value and Basis of Depreciation (Detail)	12 Months Ended
	Dec. 31, 2017
Drilling Rig Power and Tubulars Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	5 years
Basis of Depreciation	straight-line
Drilling Rig Dynamic Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	10 years
Basis of Depreciation	straight-line
Drilling Rig Structural Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	20 years
Salvage Value	10.00%
Basis of Depreciation	straight-line
Seasonal, Stratification and Turnkey Drilling Equipment [Member] | Top of Range [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	4 years
Salvage Value	20.00%
Basis of Depreciation	straight-line
Seasonal, Stratification and Turnkey Drilling Equipment [Member] | Bottom of Range [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Salvage Value	0.00%
Service Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	20 years
Salvage Value	10.00%
Basis of Depreciation	straight-line
Drilling Rig Spare Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	up to 15 years
Basis of Depreciation	straight-line
Service Rig Spare Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	up to 15 years
Basis of Depreciation	straight-line
Rental Equipment [Member] | Top of Range [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	10 to 15 years
Salvage Value	25.00%
Basis of Depreciation	straight-line
Rental Equipment [Member] | Bottom of Range [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Salvage Value	0.00%
Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	3 to 10 years
Basis of Depreciation	straight-line
Light Duty Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	4 years
Basis of Depreciation	straight-line
Heavy Duty Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	7 to 10 years
Basis of Depreciation	straight-line
Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	10 to 20 years
Basis of Depreciation	straight-line

Recast of Prior Period Amount55

Recast of Prior Period Amounts - Summary of Recast Prior Year Comparative Amounts (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Recast Of Prior Year Comparative Amounts [Line Items]
Revenue	$ 1,321,224	$ 1,003,233
Expenses:
Operating	926,171	661,715
General and administrative	90,072	107,689
Restructuring		5,754
Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization	$ 304,981	228,075
As Previously Reported [Member]
Disclosure Of Recast Of Prior Year Comparative Amounts [Line Items]
Revenue		951,411
Expenses:
Operating		607,295
General and administrative		110,287
Restructuring		5,754
Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization		228,075
Revenue Reclassification [Member]
Disclosure Of Recast Of Prior Year Comparative Amounts [Line Items]
Revenue		51,822
Expenses:
Operating		51,822
Expense Reclassification [Member]
Expenses:
Operating		2,598
General and administrative		$ (2,598)

Schedule of Property, Plant and

Schedule of Property, Plant and Equipment (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	$ 3,173,824	$ 3,641,889
Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	2,823,782	3,210,933
Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	60,179	79,398
Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	66,560	85,731
Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	16,280	22,030
Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	71,102	82,335
Assets Under Construction [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	102,035	126,430
Land [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	33,886	35,032
Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	6,733,634	7,011,178	$ 6,949,846
Gross [Member] | Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	6,034,166	6,266,991	6,069,179
Gross [Member] | Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	148,011	159,144	171,220
Gross [Member] | Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	244,950	247,073	240,192
Gross [Member] | Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	43,201	45,147	43,552
Gross [Member] | Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	127,385	131,361	131,164
Gross [Member] | Assets Under Construction [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	102,035	126,430	258,952
Gross [Member] | Land [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	33,886	35,032	35,587
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	3,559,810	3,369,289	3,066,514
Accumulated Depreciation [Member] | Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	3,210,384	3,056,058	2,789,991
Accumulated Depreciation [Member] | Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	87,832	79,746	74,220
Accumulated Depreciation [Member] | Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	178,390	161,342	142,846
Accumulated Depreciation [Member] | Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	26,921	23,117	18,712
Accumulated Depreciation [Member] | Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	$ 56,283	$ 49,026	$ 40,745

Change in Property, Plant and E

Change in Property, Plant and Equipment (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	$ 3,641,889
Impairment	15,313
Ending Balance	3,173,824	$ 3,641,889
Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	7,011,178	6,949,846
Additions	74,823	203,472
Additions through business acquisition		28,125
Re-measurement to fair value before disposal		7,605
Disposals	(82,826)	(67,201)
Reclassifications	(374)
Effect of foreign currency exchange differences	(269,167)	(110,669)
Ending Balance	6,733,634	7,011,178
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	3,369,289	3,066,514
Depreciation expense	383,521	394,418
Disposals	(74,755)	(46,331)
Impairment	15,313
Effect of foreign currency exchange differences	(133,558)	(45,312)
Ending Balance	3,559,810	3,369,289
Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	3,210,933
Ending Balance	2,823,782	3,210,933
Rig Equipment [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	6,266,991	6,069,179
Additions	21,268	88,277
Additions through business acquisition		28,125
Re-measurement to fair value before disposal		7,605
Disposals	(71,014)	(50,384)
Reclassifications	67,779	229,012
Effect of foreign currency exchange differences	(250,858)	(104,823)
Ending Balance	6,034,166	6,266,991
Rig Equipment [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	3,056,058	2,789,991
Depreciation expense	334,896	342,224
Disposals	(67,304)	(32,427)
Impairment	15,313
Effect of foreign currency exchange differences	(128,579)	(43,730)
Ending Balance	3,210,384	3,056,058
Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	79,398
Ending Balance	60,179	79,398
Rental Equipment [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	159,144	171,220
Additions	71	92
Disposals	(9,758)	(11,389)
Reclassifications	84
Effect of foreign currency exchange differences	(1,530)	(779)
Ending Balance	148,011	159,144
Rental Equipment [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	79,746	74,220
Depreciation expense	15,159	16,039
Disposals	(6,331)	(10,246)
Effect of foreign currency exchange differences	(742)	(267)
Ending Balance	87,832	79,746
Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	85,731
Ending Balance	66,560	85,731
Other Equipment [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	247,073	240,192
Additions	49	1,092
Disposals	(785)	(4,988)
Reclassifications	216	12,874
Effect of foreign currency exchange differences	(1,603)	(2,097)
Ending Balance	244,950	247,073
Other Equipment [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	161,342	142,846
Depreciation expense	19,914	22,504
Disposals	(592)	(3,241)
Effect of foreign currency exchange differences	(2,274)	(767)
Ending Balance	178,390	161,342
Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	22,030
Ending Balance	16,280	22,030
Vehicles [member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	45,147	43,552
Additions	42	166
Disposals	(339)	(440)
Reclassifications	113	2,573
Effect of foreign currency exchange differences	(1,762)	(704)
Ending Balance	43,201	45,147
Vehicles [member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	23,117	18,712
Depreciation expense	5,064	5,060
Disposals	(320)	(417)
Effect of foreign currency exchange differences	(940)	(238)
Ending Balance	26,921	23,117
Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	82,335
Ending Balance	71,102	82,335
Buildings [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	131,361	131,164
Additions	235	913
Disposals	(930)
Reclassifications		702
Effect of foreign currency exchange differences	(3,281)	(1,418)
Ending Balance	127,385	131,361
Buildings [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	49,026	40,745
Depreciation expense	8,488	8,591
Disposals	(208)
Effect of foreign currency exchange differences	(1,023)	(310)
Ending Balance	56,283	49,026
Assets Under Construction [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	126,430
Ending Balance	102,035	126,430
Assets Under Construction [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	126,430	258,952
Additions	53,158	112,932
Reclassifications	(68,566)	(245,161)
Effect of foreign currency exchange differences	(8,987)	(293)
Ending Balance	102,035	126,430
Land [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	35,032
Ending Balance	33,886	35,032
Land [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	35,032	35,587
Effect of foreign currency exchange differences	(1,146)	(555)
Ending Balance	$ 33,886	$ 35,032

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment	$ 15,313
Mexico CGU [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Cash flow projection period	5 years
Recoverable amount of asset or cash-generating unit	17.10%	15.10%
Impairment	$ 15,300
Value in use	$ 26,300

Schedule of Intangibles (Detail

Schedule of Intangibles (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about intangible assets [Line Items]
Balance	$ 3,316
Loan commitment fees related to Senior Credit Facility	3,120	$ 3,316
Software	24,996
Balance	28,116	3,316
Gross [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	12,345	11,131
Additions	24,972	1,214
Reclassifications	2,390
Balance	39,707	12,345
Gross [Member] | Loan Commitment Fees [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	12,345	11,131
Additions	1,793	1,214
Balance	14,138	12,345
Gross [Member] | Software [Member]
Disclosure of detailed information about intangible assets [Line Items]
Additions	23,179
Reclassifications	2,390
Balance	25,569
Accumulated Amortization [member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	9,029	7,768
Amortization expense	2,562	1,261
Balance	11,591	9,029
Accumulated Amortization [member] | Loan Commitment Fees [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	9,029	7,768
Amortization expense	1,989	1,261
Balance	11,018	$ 9,029
Accumulated Amortization [member] | Software [Member]
Disclosure of detailed information about intangible assets [Line Items]
Amortization expense	573
Balance	$ 573

Intangibles - Additional Inform

Intangibles - Additional Information (Detail) $ in Millions	Dec. 31, 2017CAD ($)
Disclosure Of Intangible Assets [Abstract]
Amount spent for ERP	$ 23.2

Summary of Goodwill (Detail)

Summary of Goodwill (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Reconciliation Of Changes In Goodwill [Abstract]
Goodwill at beginning of period	$ 207,399	$ 208,479
Exchange adjustment	(2,232)	(1,080)
Goodwill at end of period	$ 205,167	$ 207,399

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of information for cash-generating units [Line Items]
Goodwill	$ 205,167	$ 207,399	$ 208,479
Projected cash flows period	five-year
Canada Contract Drilling CGU [member]
Disclosure of information for cash-generating units [Line Items]
Goodwill	$ 172,300
Discount rate	9.72%	11.60%
Growth rates	0.00%	0.00%
Percentage increase in discount rates resulted in additional impairment	0.50%
Impairment charge	$ 39,400
Canada Contract Drilling CGU [member] | Top of Range [Member]
Disclosure of information for cash-generating units [Line Items]
Percentage of discount rate resulted in impairment	13.44%
U.S. Directional Drilling CGU [member]
Disclosure of information for cash-generating units [Line Items]
Goodwill	$ 32,900
Discount rate	11.72%	13.61%
Growth rates	0.00%	0.00%
Percentage increase in discount rates resulted in additional impairment	0.50%
Impairment charge	$ 900
U.S. Directional Drilling CGU [member] | Top of Range [Member]
Disclosure of information for cash-generating units [Line Items]
Percentage of discount rate resulted in impairment	19.21%

Bank Indebtedness - Additional

Bank Indebtedness - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD ($)	Dec. 31, 2016USD ($)
Disclosure of detailed information about financial instruments [Line Items]
Description of interest rate	Advances under the $40.0 million facility are available at the bank’s prime lending rate, U.S. base rate, U.S. LIBOR plus applicable margin, or Banker’s Acceptance plus applicable margin, or in combination, and under the US$15.0 million facility at the bank’s prime lending rate
40.0 Million Secured Operating Facilities [Member]
Disclosure of detailed information about financial instruments [Line Items]
Line of credit borrowing capacity	$ 40,000,000		$ 40,000,000
Line of credit outstanding	0		0
Letters of credit outstanding	$ 20,800,000		$ 22,000,000
15.0 Million Secured Operating Facilities [Member]
Disclosure of detailed information about financial instruments [Line Items]
Line of credit borrowing capacity		$ 15,000,000		$ 15,000,000
Line of credit outstanding		0		0
30.0 Million Operating Facilities [member]
Disclosure of detailed information about financial instruments [Line Items]
Line of credit borrowing capacity		30,000,000		30,000,000
Line of credit outstanding		0		0
Letters of credit outstanding		$ 13,300,000		$ 6,500,000

Disclosure of Liability Classif

Disclosure of Liability Classified Plans (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	$ 49,242	$ 32,472
Expensed (recovered) during the period	(3,166)	32,024
Payments	(24,207)	(15,254)
Ending balance	21,869	49,242
Current	8,333
Long-term	13,536	27,387
Restricted Share Units (RSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	15,592	10,459
Expensed (recovered) during the period	2,115	10,888
Payments	(10,757)	(5,755)
Ending balance	6,950	15,592
Current	4,719
Long-term	2,231
Performance Share Units (PSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	29,045	19,624
Expensed (recovered) during the period	(4,188)	18,920
Payments	(13,450)	(9,499)
Ending balance	11,407	29,045
Current	3,614
Long-term	7,793
Share Appreciation Rights [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	3	6
Expensed (recovered) during the period	(3)	(3)
Ending balance		3
Deferred Share Units (DSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	4,602	2,383
Expensed (recovered) during the period	(1,090)	2,219
Ending balance	3,512	$ 4,602
Long-term	$ 3,512

Share Based Compensation Plan65

Share Based Compensation Plans - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017CAD ($)sharesYearIncentive_Plan	Dec. 31, 2016CAD ($)sharesYear	Dec. 31, 2016USD ($)sharesYear
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number of cash-settled share based incentive plans | Incentive_Plan	2
Number of options to purchase common shares | shares	16,569,134
Number of options granted | shares	13,752,016
Option vesting period	3 years
Option expiration term	7 years
Weighted average fair value of share options granted	$ 1.59	$ 1.79
Average risk-free interest rate	1.00%	1.00%	1.00%
Average expected life | Year	4	4	4
Expected forfeiture rate	5.00%	5.00%	5.00%
Expected volatility	54.00%	50.00%	50.00%
Stock-based compensation expense	$ 3,166,000	$ (32,024,000)
Employee Stock Purchase Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Eligible employees contribute	10.00%
Employees matching contribute percentage	20.00%
Compensation expense	$ 800,000	600,000
Restricted Share Units (RSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Shares granted to eligible employees vest term	3 years
Stock-based compensation expense	$ (2,115,000)	(10,888,000)
Performance Share Units (PSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Shares granted to eligible employees vest term	3 years
Stock-based compensation expense	$ 4,188,000	(18,920,000)
Share Appreciation Rights [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
SARs vesting period	5 years
SARs expire period	10 years
SARs intrinsic value	$ 0	0
Stock-based compensation expense	$ 3,000	$ 3,000
Canadian Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number of options granted | shares	377,100	615,200	615,200
Weighted average share price		$ 6.37
U.S. Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number of options granted | shares	1,165,900	2,130,700	2,130,700
Weighted average share price			$ 5.14
Stock-based compensation expense	$ 3,200,000	$ 4,200,000
Executive Performance Share Units [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Weighted average share price	5.08
Weighted average fair value of share options granted	$ 6
Average risk-free interest rate	1.20%
Average expected life | Year	3
Expected volatility	60.00%
Stock-based compensation expense	$ 1,900,000	$ 0
Expected dividend yield	0.00%

Summary of Shares Outstanding U

Summary of Shares Outstanding Under Share Based Incentive Plans (Detail)	12 Months Ended
	Dec. 31, 2017USD ($)sharesStock_UnitYear$ / shares	Dec. 31, 2016USD ($)sharesStock_Unit$ / shares	Dec. 31, 2015$ / shares
Equity-Settled Plans [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Ending balance | shares	195,743
Restricted Share Units (RSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	3,129,039	2,896,818
Granted	1,343,669	1,911,200
Redeemed	(1,404,271)	(1,311,580)
Forfeitures	(271,579)	(367,399)
Ending balance	2,796,858	3,129,039
Performance Share Units (PSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	6,493,798	4,898,455
Granted	828,400	3,443,600
Redeemed	(1,325,692)	(1,136,720)
Forfeitures	(270,247)	(711,537)
Ending balance	5,726,259	6,493,798
Share Appreciation Rights [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	253,376	343,132
Forfeitures	(117,207)	(89,756)
Ending balance	136,169	253,376
Weighted Average Exercise Price, Beginning balance | $	$ 15.47	$ 15.93
Weighted Average Exercise Price, Forfeited | $	15.75	17.22
Weighted Average Exercise Price, Ending balance | $	$ 15.22	$ 15.47
Exercisable, Beginning balance | shares	253,376	343,132
Exercisable, Ending balance | shares	136,169	253,376
Share Appreciation Rights [Member] | 15.22 - 15.79 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number | shares	136,169
Weighted average exercise price | $	$ 15.22
Weighted average remaining contractual life | Year	0.16
Share Appreciation Rights [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Price | $ / shares	$ 15.22	$ 15.22	$ 15.22
Range of Exercise Price, Forfeited | $ / shares	15.22	15.22
Share Appreciation Rights [Member] | Bottom of Range [Member] | 15.22 - 15.79 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Price | $ / shares	15.22
Share Appreciation Rights [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Price | $ / shares	15.22	15.79	$ 17.38
Range of Exercise Price, Forfeited | $ / shares	17.38	$ 13.26
Share Appreciation Rights [Member] | Top of Range [Member] | 15.22 - 15.79 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Price | $ / shares	$ 15.79
Deferred Share Units (DSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance | shares	621,821	428,028
Granted | shares	331,456	193,793
Ending balance | shares	953,277	621,821
Executive Performance Share Units [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Granted | shares	1,159,000
Ending balance | shares	1,159,000
Weighted Average Exercise Price, Ending balance | $	$ 6
Weighted Fair Value, Granted | $	$ 6

Summary of Status of Equity Inc

Summary of Status of Equity Incentive Plan (Detail)	12 Months Ended
	Dec. 31, 2017CAD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016CAD ($)shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015shares
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number of options granted | shares	13,752,016	13,752,016
Canadian Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Options Outstanding, Beginning balance | shares	6,188,672	6,188,672	6,168,596	6,168,596
Number of options granted | shares	377,100	377,100	615,200	615,200
Options Outstanding, Exercised | shares			(295,768)	(295,768)
Options Outstanding, Forfeitures | shares	(1,665,412)	(1,665,412)	(299,356)	(299,356)
Options Outstanding, Endiing balance | shares	4,900,360	4,900,360	6,188,672	6,188,672
Weighted Average Exercise Price, Beginning balance	$ 8.70		$ 8.93
Weighted Average Exercise Price, Granted	7.30		4.46
Weighted Average Exercise Price, Exercised			5.85
Weighted Average Exercise Price, Forfeitures	8.98		7.57
Weighted Average Exercise Price, Ending balance	$ 8.50		$ 8.70
Options exercisable | shares	3,734,019	3,734,019	4,369,155	4,369,155	3,870,673
Canadian Share Options [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Prices, Beginning balance	$ 14.50		$ 14.50
Range of Exercise Prices, Granted	7.30		4.46
Range of Exercise Prices, Exercised			5.85
Range of Exercise Prices, Forfeitures	14.50		11.16
Range of Exercise Prices, Ending balance	14.50		14.50
Canadian Share Options [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Prices, Beginning balance	4.46		5.22
Range of Exercise Prices, Granted	7.30		4.46
Range of Exercise Prices, Exercised			5.22
Range of Exercise Prices, Forfeitures	7.32		5.85
Range of Exercise Prices, Ending balance	$ 4.46		$ 4.46
U.S. Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Options Outstanding, Beginning balance | shares	5,337,070	5,337,070	4,582,237	4,582,237
Number of options granted | shares	1,165,900	1,165,900	2,130,700	2,130,700
Options Outstanding, Exercised | shares			(31,000)	(31,000)
Options Outstanding, Forfeitures | shares	(944,349)	(944,349)	(1,344,867)	(1,344,867)
Options Outstanding, Endiing balance | shares	5,558,621	5,558,621	5,337,070	5,337,070
Weighted Average Exercise Price, Beginning balance		$ 6.69		$ 8.30
Weighted Average Exercise Price, Granted		5.56		3.30
Weighted Average Exercise Price, Exercised				4.95
Weighted Average Exercise Price, Forfeitures		8.42		6.86
Weighted Average Exercise Price, Ending balance		$ 6.16		$ 6.69
Options exercisable | shares	2,891,808	2,891,808	2,626,326	2,626,326	2,468,185
U.S. Share Options [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Prices, Beginning balance		$ 15.21		$ 15.21
Range of Exercise Prices, Granted		5.57		5.02
Range of Exercise Prices, Exercised				4.95
Range of Exercise Prices, Forfeitures		10.96		10.74
Range of Exercise Prices, Ending balance		15.21		15.21
U.S. Share Options [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Range of Exercise Prices, Beginning balance		3.21		4.95
Range of Exercise Prices, Granted		3.99		3.21
Range of Exercise Prices, Exercised				4.95
Range of Exercise Prices, Forfeitures		5.79		3.21
Range of Exercise Prices, Ending balance		$ 3.21		$ 3.21

Range of Exercise Prices for Op

Range of Exercise Prices for Options Outstanding (Detail)	12 Months Ended
	Dec. 31, 2017CAD ($)sharesYear	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)sharesYear	Dec. 31, 2016USD ($)shares	Dec. 31, 2015CAD ($)shares	Dec. 31, 2015USD ($)shares
Canadian Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	4,900,360		6,188,672		4,900,360	6,188,672	6,168,596	6,168,596
Total options outstanding, Weighted average exercise price	$ 8.50		$ 8.70				$ 8.93
Options exercisable, Number | shares	3,734,019		4,369,155		3,734,019	4,369,155	3,870,673	3,870,673
Canadian Share Options [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices			$ 5.85
Canadian Share Options [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices			$ 5.22
Canadian Share Options [Member] | 4.46 - 7.99 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	2,153,234				2,153,234
Total options outstanding, Weighted average exercise price	$ 6.50
Total options outstanding, Weighted average remaining contractual life (years) | Year	4.74				4.74
Options exercisable, Number | shares	986,893				986,893
Options exercisable, Weighted average exercise price	$ 6.73
Canadian Share Options [Member] | 4.46 - 7.99 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	7.99
Canadian Share Options [Member] | 4.46 - 7.99 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	$ 4.46
Canadian Share Options [Member] | 8.00 - 9.99 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	830,017				830,017
Total options outstanding, Weighted average exercise price	$ 9.02
Total options outstanding, Weighted average remaining contractual life (years) | Year	2.11				2.11
Options exercisable, Number | shares	830,017				830,017
Options exercisable, Weighted average exercise price	$ 9.02
Canadian Share Options [Member] | 8.00 - 9.99 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	9.99
Canadian Share Options [Member] | 8.00 - 9.99 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	$ 8
Canadian Share Options [Member] | 10.00 - 14.50 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	1,917,109				1,917,109
Total options outstanding, Weighted average exercise price	$ 10.51
Total options outstanding, Weighted average remaining contractual life (years) | Year	1.45				1.45
Options exercisable, Number | shares	1,917,109				1,917,109
Options exercisable, Weighted average exercise price	$ 10.51
Canadian Share Options [Member] | 10.00 - 14.50 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	14.50
Canadian Share Options [Member] | 10.00 - 14.50 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	$ 10
Canadian Share Options [Member] | 4.46 - 14.50 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	4,900,360				4,900,360
Total options outstanding, Weighted average exercise price	$ 8.50
Total options outstanding, Weighted average remaining contractual life (years) | Year	3.01				3.01
Options exercisable, Number | shares	3,734,019				3,734,019
Options exercisable, Weighted average exercise price	$ 9.18
Canadian Share Options [Member] | 4.46 - 14.50 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	14.50
Canadian Share Options [Member] | 4.46 - 14.50 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices	$ 4.46
U.S. Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	5,558,621		5,337,070		5,558,621	5,337,070	4,582,237	4,582,237
Total options outstanding, Weighted average exercise price					$ 6.16	$ 6.69		$ 8.30
Options exercisable, Number | shares	2,891,808		2,626,326		2,891,808	2,626,326	2,468,185	2,468,185
U.S. Share Options [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices				$ 4.95
U.S. Share Options [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices				$ 4.95
U.S. Share Options [Member] | 3.21 - 4.99 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	1,731,100				1,731,100
Total options outstanding, Weighted average exercise price					$ 3.23
Total options outstanding, Weighted average remaining contractual life (years) | Year	5.16				5.16
Options exercisable, Number | shares	572,460				572,460
Options exercisable, Weighted average exercise price					$ 3.23
U.S. Share Options [Member] | 3.21 - 4.99 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		$ 4.99
U.S. Share Options [Member] | 3.21 - 4.99 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		3.21
U.S. Share Options [Member] | 5.00 - 7.99 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	2,127,900				2,127,900
Total options outstanding, Weighted average exercise price					$ 5.64
Total options outstanding, Weighted average remaining contractual life (years) | Year	5.26				5.26
Options exercisable, Number | shares	619,727				619,727
Options exercisable, Weighted average exercise price					$ 5.76
U.S. Share Options [Member] | 5.00 - 7.99 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		7.99
U.S. Share Options [Member] | 5.00 - 7.99 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		5
U.S. Share Options [Member] | 8.00 - 15.21 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	1,699,621				1,699,621
Total options outstanding, Weighted average exercise price					$ 9.79
Total options outstanding, Weighted average remaining contractual life (years) | Year	1.82				1.82
Options exercisable, Number | shares	1,699,621				1,699,621
Options exercisable, Weighted average exercise price					$ 9.79
U.S. Share Options [Member] | 8.00 - 15.21 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		15.21
U.S. Share Options [Member] | 8.00 - 15.21 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		8
U.S. Share Options [Member] | 3.21 - 15.21 Range of Exercise Prices [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	5,558,621				5,558,621
Total options outstanding, Weighted average exercise price					$ 6.16
Total options outstanding, Weighted average remaining contractual life (years) | Year	4.18				4.18
Options exercisable, Number | shares	2,891,808				2,891,808
Options exercisable, Weighted average exercise price					$ 7.63
U.S. Share Options [Member] | 3.21 - 15.21 Range of Exercise Prices [Member] | Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		15.21
U.S. Share Options [Member] | 3.21 - 15.21 Range of Exercise Prices [Member] | Bottom of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Range of exercise prices		$ 3.21

Change in Provisions and Other

Change in Provisions and Other (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Other Provisions [Abstract]
Beginning balance	$ 15,461	$ 18,829
Expensed during the year	2,613	2,279
Payment of deductibles and uninsured claims	(3,929)	(5,050)
Effects of foreign currency exchange differences	(913)	(597)
Ending balance	$ 13,232	$ 15,461

Balance Sheet Classification of

Balance Sheet Classification of Provisions and Other (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Other Provisions [Abstract]
Current	$ 3,146	$ 3,040
Long-term	10,086	12,421
Other provisions	$ 13,232	$ 15,461	$ 18,829

Schedule of Long Term Borrowing

Schedule of Long Term Borrowings (Detail) $ in Thousands, $ in Millions	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD ($)
Disclosure of long term debt [Line Items]
Long-term debt, gross	$ 1,758,519		$ 1,933,993
Less net unamortized debt issue costs	(28,082)		(27,059)
Long-term debt	1,730,437		1,906,934
6.625% Senior Notes Due 2020 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross		$ 0	499,150
6.5% Senior Notes Due 2021 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	312,601	248.6	427,818
7.75% Senior Notes Due 2023 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	440,062	350	469,945
5.25% Senior Notes Due 2024 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	502,928	400	$ 537,080
7.125% Senior Notes Due 2026 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	$ 502,928	$ 400

Schedule of Long Term Borrowi72

Schedule of Long Term Borrowings (Parenthetical) (Detail) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD ($)
Disclosure of long term debt [Line Items]
Long-term debt, gross	$ 1,758,519		$ 1,933,993
6.625% Senior Notes Due 2020 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	6.625%	6.625%
Long term debt maturity year	November 15, 2020
Long-term debt, gross		$ 0	499,150
6.5% Senior Notes Due 2021 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	6.50%	6.50%
Long term debt maturity year	December 15, 2021
Long-term debt, gross	$ 312,601	$ 248.6	427,818
7.75% Senior Notes Due 2023 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	7.75%	7.75%
Long term debt maturity year	December 15, 2023
Long-term debt, gross	$ 440,062	$ 350	469,945
5.25% Senior Notes Due 2024 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	5.25%	5.25%
Long term debt maturity year	November 15, 2024
Long-term debt, gross	$ 502,928	$ 400	$ 537,080
7.125% Senior Notes Due 2026 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	7.125%	7.125%
Long term debt maturity year	January 15, 2026
Long-term debt, gross	$ 502,928	$ 400

Summary of Changes in Long Term

Summary of Changes in Long Term Borrowings (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of long term debt [Line Items]
Beginning balance	$ 1,906,934
Changes from financing cash flows:
Proceeds from issue of senior notes	509,180
Redemption and repurchase of unsecured senior notes	(571,975)	$ (677,704)
Debt issue costs	(9,196)	(10,752)
Changes from financing cash flows	(71,991)
Loss on redemption and repurchase of unsecured senior notes	9,021	239
Amortization of debt issue costs	8,173
Foreign exchange adjustment	(121,700)
Ending balance	1,730,437	1,906,934
Unsecured Senior Notes [Member]
Disclosure of long term debt [Line Items]
Beginning balance	1,933,993
Changes from financing cash flows:
Proceeds from issue of senior notes	509,180
Redemption and repurchase of unsecured senior notes	(571,975)
Changes from financing cash flows	(62,795)
Loss on redemption and repurchase of unsecured senior notes	9,021
Foreign exchange adjustment	(121,700)
Ending balance	1,758,519	1,933,993
Debt Issue Costs [Member]
Disclosure of long term debt [Line Items]
Beginning balance	(27,059)
Changes from financing cash flows:
Debt issue costs	(9,196)
Changes from financing cash flows	(9,196)
Amortization of debt issue costs	8,173
Ending balance	$ (28,082)	$ (27,059)

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	2 Months Ended	12 Months Ended
	Mar. 09, 2018CAD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD ($)	Dec. 31, 2016USD ($)
Disclosure of long term debt [Line Items]
Description of compliance with covenants		The senior notes require that we comply with certain financial covenants including an incurrence based test of Consolidated Interest Coverage Ratio, as defined in the senior note agreements, of greater than or equal to 2.0:1 for the most recent four consecutive fiscal quarters. In the event that our Consolidated Interest Coverage Ratio is less than 2.0:1 for the most recent four consecutive fiscal quarters the senior notes restrict our ability to incur additional indebtedness. As at December 31, 2017, our senior notes Consolidated Interest Coverage Ratio was 2.16:1.
Maximum Consolidated Interest Coverage Ratio to incur additional indebtedness				200.00%	200.00%
Senior notes Consolidated Interest Coverage Ratio		216.00%
Description of compliance with covenants		The senior notes also contain a restricted payments covenant that limits our ability to make payments in the nature of dividends, distributions and repurchases from shareholders. This restricted payment basket grows by, among other things, 50% of cumulative consolidated net earnings, and decreases by 100% of cumulative consolidated net losses as defined in the note agreements, and cumulative payments made to shareholders. As at December 31, 2017, the restricted payments basket was negative $213 million (2016 – negative $310 million), therefore prohibiting us from making any further dividend payments until the governing restricted payments basket once again becomes positive. No dividends have been declared or paid subsequent to December 31, 2017.
Net restricted payments basket				$ (213,000,000)		$ (310,000,000)
Events After Reporting Period [Member]
Disclosure of long term debt [Line Items]
Dividends paid	$ 0
Senior Credit Facility [Member]
Disclosure of long term debt [Line Items]
Borrowings maximum borrowing capacity					$ 500,000,000
Borrowings additional borrowing capacity				$ 300,000,000	250,000,000
Credit facility amount withdrawn					0		$ 0
Borrowings maximum available letters of credit					$ 200,000,000
Outstanding letters of credit		$ 20,900,000	$ 41,500,000
Senior Credit Facility [Member] | Periods ending March 31, 2017 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		125.00%
Senior Credit Facility [Member] | Periods ending June 30, 2017 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		125.00%
Senior Credit Facility [Member] | Periods ending September 30, 2017 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		125.00%
Senior Credit Facility [Member] | Periods ending December 31, 2017 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		150.00%
Senior Credit Facility [Member] | Periods ending March 31, 2018 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		150.00%
Senior Credit Facility [Member] | Periods ending June 30, 2018 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		200.00%
Senior Credit Facility [Member] | Periods ending September 30, 2018 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		200.00%
Senior Credit Facility [Member] | Periods ending December 31, 2018 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		200.00%
Senior Credit Facility [Member] | Periods ending after March 30, 2019 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		250.00%
Senior Credit Facility [Member] | Periods ending April 1, 2019 [Member]
Disclosure of long term debt [Line Items]
Adjusted EBITDA to Interest expense coverage ratio		175.00%
6.5% Senior Notes Due 2021 [Member]
Disclosure of long term debt [Line Items]
Interest rate				6.50%	6.50%
Maturity date		December 15, 2021
Borrowings frequency of payments		Interest is payable semi-annually on June 15 and December 15 of each year.
Amount redeemed					$ 70,000,000
Repurchase price					$ 71,800,000
6.5% Senior Notes Due 2021 [Member] | Any time on or after December 15, 2019 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				101.00%	101.00%
6.5% Senior Notes Due 2021 [Member] | Bottom of Range [Member] | Precision may redeem these notes in whole or in part before December 15, 2019 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				101.083%	101.083%
6.5% Senior Notes Due 2021 [Member] | Top of Range [Member] | Precision may redeem these notes in whole or in part before December 15, 2019 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				102.167%	102.167%
7.75% Senior Notes Due 2023 [Member]
Disclosure of long term debt [Line Items]
Interest rate				7.75%	7.75%
Maturity date		December 15, 2023
Borrowings frequency of payments		Interest is payable semi-annually on June 15 and December 15 of each year.
7.75% Senior Notes Due 2023 [Member] | Prior to December 15, 2019, Precision may redeem up to 35% of the 7.75% senior notes due 2023 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				107.75%	107.75%
Borrowings maximum percentage of principal amount redeemed				35.00%	35.00%
7.75% Senior Notes Due 2023 [Member] | Prior to December 15, 2019, Precision may redeem these notes in whole or in part [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				100.00%	100.00%
7.75% Senior Notes Due 2023 [Member] | Any time on or after December 15, 2021 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				101.00%	101.00%
7.75% Senior Notes Due 2023 [Member] | Bottom of Range [Member] | Precision may redeem these notes in whole or in part at any time on or after December 15, 2019 and before December 15, 2021 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				101.938%	101.938%
7.75% Senior Notes Due 2023 [Member] | Top of Range [Member] | Precision may redeem these notes in whole or in part at any time on or after December 15, 2019 and before December 15, 2021 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				103.875%	103.875%
5.25% Senior Notes Due 2024 [Member]
Disclosure of long term debt [Line Items]
Interest rate				5.25%	5.25%
Maturity date		November 15, 2024
Borrowings frequency of payments		Interest is payable semi-annually on May 15 and November 15 of each year.
5.25% Senior Notes Due 2024 [Member] | Prior to May 15, 2019, Precision may redeem these notes in whole or in part [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				100.00%	100.00%
5.25% Senior Notes Due 2024 [Member] | Any time on or after May 15, 2022 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				101.00%	101.00%
5.25% Senior Notes Due 2024 [Member] | Bottom of Range [Member] | Precision may redeem these notes in whole or in part at any time on or after May 15, 2019 and before May 15, 2022 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				100.875%	100.875%
5.25% Senior Notes Due 2024 [Member] | Top of Range [Member] | Precision may redeem these notes in whole or in part at any time on or after May 15, 2019 and before May 15, 2022 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				102.625%	102.625%
7.125% Senior Notes Due 2026 [Member]
Disclosure of long term debt [Line Items]
Interest rate				7.125%	7.125%
Maturity date		January 15, 2026
Borrowings frequency of payments		Interest is payable semi-annually on January 15 and July 15 of each year, commencing July 15, 2018.
7.125% Senior Notes Due 2026 [Member] | Prior to November 15, 2020, Precision may redeem up to 35% of the 7.125% senior notes due 2026 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				107.125%	107.125%
Borrowings maximum percentage of principal amount redeemed				35.00%	35.00%
7.125% Senior Notes Due 2026 [Member] | Prior to November 15, 2020, Precision may redeem these notes in whole or in part [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				100.00%	100.00%
7.125% Senior Notes Due 2026 [Member] | Any time on or after November 15, 2023 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				101.00%	101.00%
7.125% Senior Notes Due 2026 [Member] | Bottom of Range [Member] | Precision may redeem these notes in whole or in part at any time on or after November 15, 2020 and before November 15, 2022 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				101.781%	101.781%
7.125% Senior Notes Due 2026 [Member] | Top of Range [Member] | Precision may redeem these notes in whole or in part at any time on or after November 15, 2020 and before November 15, 2022 [Member]
Disclosure of long term debt [Line Items]
Redemption price percentage				105.344%	105.344%
6.625% Senior Notes Due 2020 [Member]
Disclosure of long term debt [Line Items]
Interest rate				6.625%	6.625%
Maturity date		November 15, 2020
Redemption price					$ 371,800,000
Amount redeemed					$ 377,100,000

Long-Term Debt Maturities (Deta

Long-Term Debt Maturities (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items]
Long-term debt, gross	$ 1,758,519	$ 1,933,993
2021 [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items]
Long-term debt, gross	312,601
Thereafter [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items]
Long-term debt, gross	$ 1,445,918

Condensed Consolidating Stateme

Condensed Consolidating Statement of Financial Position (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash	$ 65,081	$ 115,705	$ 444,759
Other current assets	376,665	355,905
Property, plant and equipment	3,173,824	3,641,889
Intangibles	28,116	3,316
Goodwill	205,167	207,399	208,479
Other long-term assets	44,078
Total assets	3,892,931	4,324,214
Liabilities and shareholders’ equity
Current liabilities	209,625	240,736
Long-term debt	1,730,437	1,906,934
Other long-term liabilities	142,533	214,426
Total liabilities	2,082,595	2,362,096
Shareholders’ equity	1,810,336	1,962,118	2,121,209
Total liabilities and shareholders’ equity	3,892,931	4,324,214
Parent Company [Member]
Assets
Cash	20,843	61,794	330,758
Other current assets	38,558	43,630
Intercompany receivables	93,662	1,475,431
Investments in subsidiaries	4,822,876	4,913,785
Property, plant and equipment	64,605	78,849
Intangibles	25,644	3,316
Total assets	5,066,188	6,576,805
Liabilities and shareholders’ equity
Current liabilities	36,331	42,657
Intercompany payables and debt	1,795,141	3,071,032
Long-term debt	1,730,437	1,906,934
Other long-term liabilities	135,053	181,940
Total liabilities	3,696,962	5,202,563
Shareholders’ equity	1,369,226	1,374,242
Total liabilities and shareholders’ equity	5,066,188	6,576,805
Guarantor Subsidiaries [Member]
Assets
Cash	5,422	13,138	43,039
Other current assets	261,883	210,125
Intercompany receivables	2,669,280	3,024,724
Investments in subsidiaries	61	60
Property, plant and equipment	2,659,831	3,023,968
Intangibles	2,472
Goodwill	205,167	207,399
Other long-term assets	53,908
Total assets	5,858,024	6,479,414
Liabilities and shareholders’ equity
Current liabilities	124,482	126,870
Intercompany payables and debt	1,000,167	1,412,257
Other long-term liabilities	17,978	32,781
Total liabilities	1,142,627	1,571,908
Shareholders’ equity	4,715,397	4,907,506
Total liabilities and shareholders’ equity	5,858,024	6,479,414
Non-Guarantor Subsidiaries [Member]
Assets
Cash	38,816	40,773	$ 70,962
Other current assets	76,221	102,147
Intercompany receivables	84,861	68,767
Property, plant and equipment	449,917	539,214
Other long-term assets	3,051
Total assets	652,866	750,901
Liabilities and shareholders’ equity
Current liabilities	48,812	71,209
Intercompany payables and debt	52,495	85,633
Other long-term liabilities	2,383	(295)
Total liabilities	103,690	156,547
Shareholders’ equity	549,176	594,354
Total liabilities and shareholders’ equity	652,866	750,901
Consolidating Adjustments [Member]
Assets
Other current assets	3	3
Intercompany receivables	(2,847,803)	(4,568,922)
Investments in subsidiaries	(4,822,937)	(4,913,845)
Property, plant and equipment	(529)	(142)
Other long-term assets	(12,881)
Total assets	(7,684,147)	(9,482,906)
Liabilities and shareholders’ equity
Intercompany payables and debt	(2,847,803)	(4,568,922)
Other long-term liabilities	(12,881)
Total liabilities	(2,860,684)	(4,568,922)
Shareholders’ equity	(4,823,463)	(4,913,984)
Total liabilities and shareholders’ equity	$ (7,684,147)	$ (9,482,906)

Condensed Consolidating State77

Condensed Consolidating Statement of Loss (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of subsidiaries [Line Items]
Revenue	$ 1,321,224	$ 1,003,233
Operating expense	926,171	661,715
General and administrative expense	90,072	107,689
Restructuring		5,754
Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization	304,981	228,075
Depreciation and amortization	377,746	391,659
Impairment of property, plant and equipment	15,313
Gain on re-measurement of property, plant and equipment		(7,605)
Operating loss	(88,078)	(155,979)
Foreign exchange	(2,970)	6,008
Finance charges	137,928	146,360
Loss on redemption and repurchase of unsecured senior notes	9,021	239
Loss before tax	(232,057)	(308,586)
Income taxes	(100,021)	(153,031)
Net loss	(132,036)	(155,555)
Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Revenue	1,138,049	846,867
Operating expense	809,233	551,538
General and administrative expense	44,932	59,323
Restructuring		5,469
Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization	283,884	230,537
Depreciation and amortization	302,958	324,649
Impairment of property, plant and equipment	15,313
Gain on re-measurement of property, plant and equipment		(7,605)
Operating loss	(34,387)	(86,507)
Foreign exchange	(889)	(2,121)
Finance charges	(68)	118
Loss before tax	(33,430)	(84,504)
Income taxes	(59,120)	(83,404)
Net loss	25,690	(1,100)
Non-Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Revenue	190,401	169,287
Operating expense	124,115	123,041
General and administrative expense	9,535	11,173
Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization	56,751	35,073
Depreciation and amortization	61,450	52,957
Operating loss	(4,699)	(17,884)
Foreign exchange	294	1,398
Finance charges	(31)	189
Loss before tax	(4,962)	(19,471)
Income taxes	6,666	2,471
Net loss	(11,628)	(21,942)
Consolidating Adjustments [Member]
Disclosure of subsidiaries [Line Items]
Revenue	(7,315)	(13,024)
Operating expense	(7,315)	(13,024)
Depreciation and amortization	220	225
Operating loss	(220)	(225)
Equity in loss of subsidiaries	12,383	(23,042)
Loss before tax	(12,603)	22,817
Net loss	(12,603)	22,817
Parent [Member]
Disclosure of subsidiaries [Line Items]
Revenue	89	103
Operating expense	138	160
General and administrative expense	35,605	37,193
Restructuring		285
Earnings before income taxes, loss on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant and equipment, gain on re-measurement of property, plant and equipment and depreciation and amortization	(35,654)	(37,535)
Depreciation and amortization	13,118	13,828
Operating loss	(48,772)	(51,363)
Foreign exchange	(2,375)	6,731
Finance charges	138,027	146,053
Loss on redemption and repurchase of unsecured senior notes	9,021	239
Equity in loss of subsidiaries	(12,383)	23,042
Loss before tax	(181,062)	(227,428)
Income taxes	(47,567)	(72,098)
Net loss	$ (133,495)	$ (155,330)

Condensed Consolidating State78

Condensed Consolidating Statement of Comprehensive Loss (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of subsidiaries [Line Items]
Net loss	$ (132,036)	$ (155,555)
Other comprehensive income (loss)	(24,846)	(9,645)
Comprehensive loss	(156,882)	(165,200)
Parent Company [Member]
Disclosure of subsidiaries [Line Items]
Net loss	(133,495)	(155,330)
Other comprehensive income (loss)	121,699	66,963
Comprehensive loss	(11,796)	(88,367)
Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Net loss	25,690	(1,100)
Other comprehensive income (loss)	(110,717)	(62,459)
Comprehensive loss	(85,027)	(63,559)
Non-Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Net loss	(11,628)	(21,942)
Other comprehensive income (loss)	(35,661)	(11,270)
Comprehensive loss	(47,289)	(33,212)
Consolidating Adjustments [Member]
Disclosure of subsidiaries [Line Items]
Net loss	(12,603)	22,817
Other comprehensive income (loss)	(167)	(2,879)
Comprehensive loss	$ (12,770)	$ 19,938

Condensed Consolidating State79

Condensed Consolidating Statement of Cash Flow (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of subsidiaries [Line Items]
Operations	$ 116,555	$ 122,508
Investments	(91,150)	(213,925)
Financing	(73,784)	(218,324)
Effects of exchange rate changes on cash and cash equivalents	(2,245)	(19,313)
Decrease in cash and cash equivalents	(50,624)	(329,054)
Cash and cash equivalents, beginning of year	115,705	444,759
Cash and cash equivalents, end of year	65,081	115,705
Parent Company [Member]
Disclosure of subsidiaries [Line Items]
Operations	(160,698)	(185,430)
Investments	191,638	145,451
Financing	(73,784)	(218,324)
Effects of exchange rate changes on cash and cash equivalents	1,893	(10,661)
Decrease in cash and cash equivalents	(40,951)	(268,964)
Cash and cash equivalents, beginning of year	61,794	330,758
Cash and cash equivalents, end of year	20,843	61,794
Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Operations	243,364	298,342
Investments	(58,942)	(65,939)
Financing	(190,360)	(257,263)
Effects of exchange rate changes on cash and cash equivalents	(1,778)	(5,041)
Decrease in cash and cash equivalents	(7,716)	(29,901)
Cash and cash equivalents, beginning of year	13,138	43,039
Cash and cash equivalents, end of year	5,422	13,138
Non-Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Operations	33,889	9,596
Investments	(11,152)	(149,151)
Financing	(22,334)	112,977
Effects of exchange rate changes on cash and cash equivalents	(2,360)	(3,611)
Decrease in cash and cash equivalents	(1,957)	(30,189)
Cash and cash equivalents, beginning of year	40,773	70,962
Cash and cash equivalents, end of year	38,816	40,773
Consolidating Adjustments [Member]
Disclosure of subsidiaries [Line Items]
Investments	(212,694)	(144,286)
Financing	$ 212,694	$ 144,286

Schedule of Provision for Incom

Schedule of Provision for Income Taxes (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation Of Changes In Deferred Tax Liability Asset [Abstract]
Loss before income taxes	$ (232,057)	$ (308,586)
Federal and provincial statutory rates	27.00%	27.00%
Tax at statutory rates	$ (62,655)	$ (83,318)
Adjusted for the effect of:
Non-deductible expenses	2,672	3,473
Non-taxable capital gains	(175)	(4,461)
Income taxed at lower rates	(42,334)	(43,232)
Impact of foreign tax rates	(2,814)	(23,658)
Withholding taxes	1,165	1,638
Taxes related to prior years	(618)	(1,227)
Other	4,738	(2,246)
Income tax recovery	$ (100,021)	$ (153,031)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
US federal corporate tax rate		35.00%
Deferred income tax expense on revaluation of US federal income tax rate		$ 15,800,000
Long-term receivable for alternative minimum tax carryforward balance		2,300,000
Loss carryforwards not recognized as deferred incom tax asset		31,500
Unrecognized tax benefits		1,980,000	$ 1,923,000	$ 19,618,000
Interest and penalties included in unrecognized tax benefits		500,000	400,000
Unrecognized tax benefits realized in next twelve months		0	0
Temporary differences [Member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Tax effected temporary differences related to US operations		$ 38,800,000	$ 14,000,000
Scenario, Forecast [Member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
US federal corporate tax rate	21.00%

Summary of Net Deferred Tax Lia

Summary of Net Deferred Tax Liability (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred income tax liability:
Property, plant and equipment and intangibles	$ 454,613	$ 629,967
Debt issue costs	3,352	4,215
Other	6,709	6,159
Deferred income tax liability	464,674	640,341
Offsetting of assets and liabilities	(345,763)	(465,723)
Deferred tax liabilities	118,911	174,618
Deferred income tax assets:
Losses (expire from time to time up to 2036)	368,133	418,253
Partnership deferrals	335	16,447
Long-term incentive plan	7,935	18,270
Other	11,182	12,753
Deferred income tax asset	387,585	465,723
Offsetting of assets and liabilities	(345,763)	(465,723)
Deferred tax assets	41,822
Net deferred income tax liability	$ 77,089	$ 174,618

Summary of Movement in Temporar

Summary of Movement in Temporary Differences of Deferred Tax Liabilities (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	$ 174,618
Ending Balance	118,911	$ 174,618
Property, Plant and Equipment and Intangibles [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	629,967	637,106
Recognized in net loss	(149,489)	5,960
Effect of foreign currency exchange differences	(25,865)	(13,099)
Ending Balance	454,613	629,967
Partnership Deferrals [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(16,447)	12,604
Recognized in net loss	16,112	(29,051)
Ending Balance	(335)	(16,447)
Other Deferred Income Tax Liabilities [Member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	6,159	4,668
Recognized in net loss	545	1,483
Effect of foreign currency exchange differences	5	8
Ending Balance	6,709	6,159
Losses [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(418,253)	(335,966)
Recognized in net loss	24,124	(88,119)
Recognized in other comprehensive loss		(2,933)
Effect of foreign currency exchange differences	25,996	8,765
Ending Balance	(368,133)	(418,253)
Debt Issue Costs [Member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	4,215	5,802
Recognized in net loss	(863)	(1,587)
Ending Balance	3,352	4,215
Long-Term Incentive Plan [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(18,270)	(12,477)
Recognized in net loss	9,651	(5,979)
Effect of foreign currency exchange differences	684	186
Ending Balance	(7,935)	(18,270)
Other Deferred Income Tax Assets [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(12,753)	(8,271)
Recognized in net loss	1,230	(4,543)
Effect of foreign currency exchange differences	341	61
Ending Balance	(11,182)	(12,753)
Net Deferred Income Tax Liability [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	174,618	303,466
Recognized in net loss	(98,690)	(121,836)
Recognized in other comprehensive loss		(2,933)
Effect of foreign currency exchange differences	1,161	(4,079)
Ending Balance	$ 77,089	$ 174,618

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefits (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation Of Changes In Deferred Tax Liability Asset [Abstract]
Unrecognized tax benefits, beginning of year	$ 1,923	$ 19,618
Additions:
Prior year’s tax positions	57	56
Reductions:
Prior year’s tax positions		(17,751)
Unrecognized tax benefits, end of year	$ 1,980	$ 1,923

Schedule of Issued Capital (Det

Schedule of Issued Capital (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Classes Of Share Capital [Abstract]
Balance, Number of shares	293,238,858	293,238,858
Shareholders’ capital	$ 2,319,293	$ 2,319,293

Summary of Accumulated Other Co

Summary of Accumulated Other Comprehensive Income (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 156,456
Other comprehensive loss	(24,846)	$ (9,645)
Ending Balance	131,610	156,456
Unrealized Foreign Currency Translation Gains (Losses) [member]
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	587,278	663,886
Other comprehensive loss	(146,545)	(76,608)
Ending Balance	440,733	587,278
Foreign Exchange Gain (Loss) on Net Investment Hedge [member]
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(430,822)	(497,785)
Other comprehensive loss	121,699	66,963
Ending Balance	(309,123)	(430,822)
Accumulated Other Comprehensive Income [Member]
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	156,456	166,101
Other comprehensive loss	(24,846)	(9,645)
Ending Balance	$ 131,610	$ 156,456

Summary of Finance Charges (Det

Summary of Finance Charges (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Interest:
Long-term debt	$ 128,381	$ 138,335
Other	1,083	226
Income	(1,858)	(3,445)
Amortization of debt issue costs	10,162	11,244
Other	160
Finance charges	$ 137,928	$ 146,360

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Employees Benefit [Abstract]
Individual contributions under defined contribution pension plan	5.00%
Total expense under the defined contribution plan	$ 10.4	$ 8.6

Compensation of Key Management

Compensation of Key Management Personnel (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Transactions Between Related Parties [Abstract]
Salaries and other benefits	$ 6,078	$ 6,983
Equity settled share based compensation	3,036	2,749
Cash settled share based compensation	(3,945)	8,629
Key management personnel compensation	$ 5,169	$ 18,361

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Transactions Between Related Parties [Abstract]
Related party transactions, description	Certain executive officers have entered into employment agreements with Precision that provide termination benefits of up to 24 months base salary plus up to two times targeted incentive compensation upon dismissal without cause.

Commitments - Additional Inform

Commitments - Additional Information (Detail) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	$ 132.9	$ 141.6
2018 [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	5.2
2019 [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	36.5
2020 [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	73
2,021
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	$ 18.2
Office equipment [member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Terms of operating lease commitments	one to 10 years
Vehicles [member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Terms of operating lease commitments	three and four years

Expected Non-cancellable Operat

Expected Non-cancellable Operating Lease Payments (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	$ 61,602	$ 52,179
2018 [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	12,248	16,564
Between One and Five Years [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	27,445	$ 35,615
Thereafter [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	$ 21,909

Amounts Recognized as Expenses

Amounts Recognized as Expenses in Respect of Operating Leases (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Lease And Sublease Payments Recognised As Expense [Abstract]
Operating leases	$ 16,311	$ 18,084
Sub-lease recoveries	(441)	(587)
Operating leases and sublease recoveries recognised as expense	$ 15,870	$ 17,497

Summary of Per Share Amounts (D

Summary of Per Share Amounts (Detail) - CAD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Weighted Average Shares And Adjusted Weighted Average Shares [Abstract]
Net loss for the period	$ (132,036)	$ (155,555)
Weighted average shares outstanding – basic	293,239	293,133
Effect of stock options and other equity compensation plans	0	0
Weighted average shares outstanding – diluted	293,239	293,133

Segmented Information - Additio

Segmented Information - Additional Information (Detail) - Segment	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Operating Segments [Abstract]
Number of operating segments	2
Percentage of corporations total revenue	0.00%	0.00%
Information about major customers	No one individual customer accounted for more than 10% of the Corporation’s total revenue.

Summary of Operating Segments (

Summary of Operating Segments (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [Line Items]
Revenue	$ 1,321,224	$ 1,003,233
Operating loss	(232,057)	(308,586)
Depreciation and amortization	377,746	391,659
Impairment of property, plant and equipment	15,313
Total assets	3,892,931	4,324,214
Goodwill	205,167	207,399	$ 208,479
All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	1,321,224	1,003,233
Operating loss	(88,078)	(155,979)
Depreciation and amortization	377,746	391,659
Impairment of property, plant and equipment	15,313
Total assets	3,892,931	4,324,214
Goodwill	205,167	207,399
Capital expenditures	98,002	203,472
Contract Drilling Services [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	1,173,930	907,821
Operating loss	(6,930)	(51,354)
Depreciation and amortization	334,587	348,005
Impairment of property, plant and equipment	15,313
Total assets	3,491,393	3,914,604
Goodwill	205,167	207,399
Capital expenditures	69,076	196,013
Completion and Production Services [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	154,146	100,049
Operating loss	(17,750)	(25,316)
Depreciation and amortization	29,638	29,272
Total assets	209,353	217,064
Capital expenditures	4,509	1,204
Corporate and Other [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Operating loss	(63,398)	(79,309)
Depreciation and amortization	13,521	14,382
Total assets	192,185	192,546
Capital expenditures	24,417	6,255
Inter- Segment Eliminations [Member]
Disclosure of operating segments [Line Items]
Revenue	(16,567)	(10,629)
Inter- Segment Eliminations [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	$ (6,852)	$ (4,637)

Summary of Operating Segments b

Summary of Operating Segments by Geographic Locations (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of geographical areas [Line Items]
Revenue	$ 1,321,224	$ 1,003,233
Total assets	3,892,931	4,324,214
Canada [member]
Disclosure of geographical areas [Line Items]
Revenue	578,817	418,030
Total assets	1,631,838	1,738,853
United States [Member]
Disclosure of geographical areas [Line Items]
Revenue	568,573	426,546
Total assets	1,666,368	1,861,908
International [Member]
Disclosure of geographical areas [Line Items]
Revenue	190,401	169,286
Total assets	594,725	723,453
Inter- Segment Eliminations [Member]
Disclosure of geographical areas [Line Items]
Revenue	$ (16,567)	$ (10,629)

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - CAD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about financial instruments [Line Items]
Fair value of unsecured senior notes	$ 1,765	$ 1,917
Credit Risk [Member]
Disclosure of detailed information about financial instruments [Line Items]
Trade receivables	$ 11.7	$ 8.6

Summary of Allowance for Doubtf

Summary of Allowance for Doubtful Accounts (Detail) - Trade receivables [Member] - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Allowance For Doubtful Accounts [Line Items]
Beginning balance	$ 6,072	$ 9,089
Impairment loss recognized	56	188
Amounts written-off as uncollectible	(3,296)	(218)
Impairment loss reversed	(30)	(2,786)
Effect of movement in exchange rates	(206)	(201)
Ending balance	$ 2,596	$ 6,072

Summary of Ageing of Trade Rece

Summary of Ageing of Trade Receivables (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of provision matrix [Line Items]
Total Trade Receivables	$ 178,433	$ 150,142
Gross [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	181,029	156,214
Gross [Member] | Not Past Due [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	92,880	94,988
Gross [Member] | Past Due 0 - 30 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	66,723	38,130
Gross [Member] | Past Due 31 - 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	19,410	14,921
Gross [Member] | Past Due More than 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	2,016	8,175
Provision for Impairment [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	2,596	6,072
Provision for Impairment [Member] | Past Due 31 - 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	580
Provision for Impairment [Member] | Past Due More than 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	$ 2,016	$ 6,072

Summary of Financial Instrument

Summary of Financial Instruments were Denominated in U S Dollars (Detail) $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015CAD ($)
Disclosure of detailed information about financial instruments [Line Items]
Cash			$ 65,081		$ 115,705		$ 444,759
Accounts receivable			322,585		293,682
Accounts payable and accrued liabilities			$ (209,625)		$ (240,736)
Canadian Operations [Member] | Currency Risk [Member]
Disclosure of detailed information about financial instruments [Line Items]
Cash				$ 1,720		$ 37,583
Accounts payable and accrued liabilities				(13,221)		(20,054)
Net foreign currency exposure				(11,501)		17,529
Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on net loss	$ (115)	$ 175
Foreign Operations [Member] | Currency Risk [Member]
Disclosure of detailed information about financial instruments [Line Items]
Cash				39,636		45,800
Accounts receivable				152,216		144,302
Accounts payable and accrued liabilities				(98,008)		(106,635)
Long-term liabilities, excluding long-term incentive plans				(8,023)		(9,251)
Net foreign currency exposure				$ 85,821		$ 74,216
Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on comprehensive loss	$ 858	$ 742

Summary of Contractual Maturiti

Summary of Contractual Maturities of Financial Liabilities and other contractual commitments (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	$ 1,758,519	$ 1,933,993
2022 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	312,601
Thereafter [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	1,445,918
Liquidity risk [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Accounts payable and accrued liabilities	(209,625)
Share based compensation	27,658
Long-term debt, gross	1,758,519
Interest on long-term debt	753,325
Commitments	194,502
Total	2,943,629
Liquidity risk [Member] | 2018 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Accounts payable and accrued liabilities	(209,625)
Share based compensation	8,658
Interest on long-term debt	116,661
Commitments	17,435
Total	352,379
Liquidity risk [Member] | 2019 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Share based compensation	14,057
Interest on long-term debt	116,661
Commitments	45,077
Total	175,795
Liquidity risk [Member] | 2020 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Share based compensation	4,943
Interest on long-term debt	116,661
Commitments	80,019
Total	201,623
Liquidity risk [Member] | 2021 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	312,601
Interest on long-term debt	115,815
Commitments	24,664
Total	453,080
Liquidity risk [Member] | 2022 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Interest on long-term debt	96,342
Commitments	5,398
Total	101,740
Liquidity risk [Member] | Thereafter [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	1,445,918
Interest on long-term debt	191,185
Commitments	21,909
Total	$ 1,659,012

Capital Management - Summary of

Capital Management - Summary of Capitalization and Ratio (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Capitalisation [Abstract]
Long-term debt	$ 1,730,437	$ 1,906,934
Shareholders’ equity	1,810,336	1,962,118
Total capitalization	$ 3,540,773	$ 3,869,052
Long-term debt to long-term debt plus equity ratio	0.49%	0.49%

Capital Management - Additional

Capital Management - Additional Information (Detail) $ in Thousands	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015CAD ($)
Disclosure Of Capitalisation [Line Items]
Cash	$ 65,081		$ 115,705		$ 444,759
Senior Credit Facility [Member]
Disclosure Of Capitalisation [Line Items]
Line of credit borrowing capacity		$ 500,000,000		$ 550,000,000
Line of credit outstanding		0
Letters of credit outstanding		20,900,000		41,500,000
Secured Operating Facility [Member]
Disclosure Of Capitalisation [Line Items]
Line of credit borrowing capacity	96,600		100,400
40.0 Million Secured Operating Facilities [Member]
Disclosure Of Capitalisation [Line Items]
Line of credit borrowing capacity	40,000		40,000
Letters of credit outstanding	$ 20,800		$ 22,000
30.0 Million Operating Facilities [member]
Disclosure Of Capitalisation [Line Items]
Line of credit borrowing capacity		30,000,000		30,000,000
Letters of credit outstanding		13,300,000		6,500,000
15.0 Million Secured Operating Facilities [Member]
Disclosure Of Capitalisation [Line Items]
Line of credit borrowing capacity		15,000,000		15,000,000
Line of credit outstanding		$ 0		$ 0

Components of Changes in Non-ca

Components of Changes in Non-cash Working Capital Balances (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Change In Noncash Working Capital Balances [Abstract]
Accounts receivable	$ (41,309)	$ 11,688
Inventory	(3,902)	(429)
Accounts payable and accrued liabilities	(30,158)	(3,136)
Non cash working capital	(75,369)	8,123
Operations	(67,380)	17,133
Investments	$ (7,989)	$ (9,010)

Components of Accounts Receivab

Components of Accounts Receivable (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts Receivable [Abstract]
Trade	$ 178,433	$ 150,142
Accrued trade	91,708	87,685
Prepaids and other	52,444	55,855
Trade and other current receivables	$ 322,585	$ 293,682

Components of Accounts Payable

Components of Accounts Payable and Accrued Liabilities (Detail) - CAD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts Payable And Accrued Liabilities [Abstract]
Accounts payable	$ 87,436	$ 73,239
Accrued liabilities:
Payroll	58,550	59,595
Other	63,639	107,902
Accounts payable and accrued liabilities	$ 209,625	$ 240,736

Supplemental Information - Addi

Supplemental Information - Additional Information (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Supplemental Information [Line Items]
Operating expense	$ 926,171	$ 661,715
General and administrative expense	90,072	107,689
Depreciation and Amortization, Gain on Re-Measurement, Loss on Asset Decommissioning, and Impairment of Property, Plant and Equipment [Member]
Supplemental Information [Line Items]
Operating expense	364,200	369,700
General and administrative expense	$ 13,500	$ 14,400

Summary of Operating and Genera

Summary of Operating and General and Administrative Expenses (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Expense By Nature [Abstract]
Wages, salaries and benefits	$ 580,482	$ 463,113
Purchased materials, supplies and services	433,827	275,840
Share-based compensation	1,934	36,205
Operating and general and administrative expenses	1,016,243	775,158
Allocated to:
Operating expense	926,171	661,715
General and administrative	90,072	107,689
Restructuring		5,754
Operating and general and administrative expenses	$ 1,016,243	$ 775,158

Contingencies and Guarantees -

Contingencies and Guarantees - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017CAD ($)
Tax contingent liability [Member]
Disclosure of contingent liabilities [Line Items]
Disclosure of uncertainties of contingent liabilities	The business and operations of the Corporation are complex and the Corporation has executed a number of significant financings, business combinations, acquisitions and dispositions over the course of its history. The computation of income taxes payable as a result of these transactions involves many complex factors as well as the Corporation’s interpretation of relevant tax legislation and regulations. The Corporation’s management believes that the provision for income tax is adequate and in accordance with IFRS and applicable legislation and regulations. However, there are tax filing positions that have been and can still be the subject of review by taxation authorities who may successfully challenge the Corporation’s interpretation of the applicable tax legislation and regulations, with the result that additional taxes could be payable by the Corporation.
Legal proceedings contingent liability [Member]
Disclosure of contingent liabilities [Line Items]
Disclosure of uncertainties of contingent liabilities	The Corporation, through the performance of its services, product sales and business arrangements, is sometimes named as a defendant in litigation. The outcome of such claims against the Corporation is not determinable at this time; however, their ultimate resolution is not expected to have a material adverse effect on the Corporation.
Other contingent liabilities [Member]
Disclosure of contingent liabilities [Line Items]
Disclosure not practicable	The Corporation has entered into agreements indemnifying certain parties primarily with respect to tax and specific third party claims associated with businesses sold by the Corporation. Due to the nature of the indemnifications, the maximum exposure under these agreements cannot be estimated. No amounts have been recorded for the indemnities as the Corporation’s obligations under them are not probable or estimable.
Obligation amount	$ 0

Summary of Subsidiaries (Detail

Summary of Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Precision Limited Partnership [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	Canada
Ownership interest	100.00%	100.00%
Precision Drilling Canada Limited Partnership [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	Canada
Ownership interest	100.00%	100.00%
Precision Diversified Oilfield Services Corp [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	Canada
Ownership interest	100.00%	100.00%
Precision Directional Services Ltd [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	Canada
Ownership interest	100.00%	100.00%
Precision Drilling (US) Corporation [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	United States
Ownership interest	100.00%	100.00%
Precision Drilling Company LP [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	United States
Ownership interest	100.00%	100.00%
Precision Completion and Production Services Ltd [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	United States
Ownership interest	100.00%	100.00%
Precision Directional Services Inc [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	United States
Ownership interest	100.00%	100.00%
Grey Wolf Drilling Limited [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	Barbados
Ownership interest	100.00%	100.00%
Grey Wolf Drilling Barbados Ltd [Member]
Disclosure of subsidiaries [Line Items]
Country of incorporation	Barbados
Ownership interest	100.00%	100.00%