Precision Drilling (PDS) 40-F 5 Mar 19 2018 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2018shares
Document And Entity Information [Abstract]
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
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	293,781,836

Consolidated Statements of Fina

Consolidated Statements of Financial Position - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash	$ 96,626	$ 65,081
Accounts receivable	372,336	322,585
Income tax recoverable		29,449
Inventory	34,081	24,631
Current assets excluding asset held for sale	503,043	441,746
Assets held for sale	19,658
Total current assets	522,701	441,746
Non-current assets:
Income taxes recoverable	2,449	2,256
Deferred tax assets	36,880	41,822
Property, plant and equipment	3,038,612	3,173,824
Intangibles	35,401	28,116
Goodwill		205,167
Total non-current assets	3,113,342	3,451,185
Total assets	3,636,043	3,892,931
Current liabilities:
Accounts payable and accrued liabilities	274,489	209,625
Income tax payable	7,673
Total current liabilities	282,162	209,625
Non-current liabilities:
Share based compensation	6,520	13,536
Provisions and other	10,577	10,086
Long-term debt	1,706,253	1,730,437
Deferred tax liabilities	72,779	118,911
Total non-current liabilities	1,796,129	1,872,970
Shareholders’ equity:
Shareholders’ capital	2,322,280	2,319,293
Contributed surplus	52,332	44,037
Deficit	(978,874)	(684,604)
Accumulated other comprehensive income	162,014	131,610
Total shareholders’ equity	1,557,752	1,810,336
Total liabilities and shareholders’ equity	$ 3,636,043	$ 3,892,931

Consolidated Statements of Loss

Consolidated Statements of Loss - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenue	$ 1,541,189	$ 1,321,224
Expenses:
Operating	1,067,871	926,171
General and administrative	112,387	90,072
Other recoveries	(14,200)
Earnings before income taxes, loss (gain) on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of property, plant, and equipment, impairment of goodwill and depreciation and amortization	375,131	304,981
Depreciation and amortization	365,660	377,746
Impairment of goodwill	207,544
Impairment of property, plant and equipment		15,313
Foreign exchange	4,017	(2,970)
Finance charges	127,178	137,928
Loss (gain) on redemption and repurchase of unsecured senior notes	(5,672)	9,021
Loss before income taxes	(323,596)	(232,057)
Income taxes:
Current	8,573	(1,331)
Deferred	(37,899)	(98,690)
Income tax recovery	(29,326)	(100,021)
Net loss	$ (294,270)	$ (132,036)
Loss per share:
Basic	$ (1)	$ (0.45)
Diluted	$ (1)	$ (0.45)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement Of Comprehensive Income [Abstract]
Net loss	$ (294,270)	$ (132,036)
Unrealized gain (loss) on translation of assets and liabilities of operations denominated in foreign currency	175,630	(146,545)
Foreign exchange gain (loss) on net investment hedge with U.S. denominated debt, net of tax	(145,226)	121,699
Comprehensive loss	$ (263,866)	$ (156,882)

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operations:
Net loss	$ (294,270)	$ (132,036)
Adjustments for:
Long-term compensation plans	17,401	6,795
Depreciation and amortization	365,660	377,746
Impairment of property, plant and equipment		15,313
Impairment of goodwill	207,544
Foreign exchange	2,341	(2,873)
Finance charges	127,178	137,928
Loss (gain) on redemption and repurchase of unsecured senior notes	(5,672)	9,021
Income taxes	(29,326)	(100,021)
Other	(1,269)	(2,025)
Income taxes paid	(4,446)	(3,645)
Income taxes recovered	33,283	11,932
Interest paid	(108,622)	(136,065)
Interest received	1,412	1,865
Funds provided by operations	311,214	183,935
Changes in non-cash working capital balances	(17,880)	(67,380)
Cash provided by operations	293,334	116,555
Investments:
Purchase of property, plant and equipment	(114,576)	(74,823)
Purchase of intangibles	(11,567)	(23,179)
Proceeds on sale of property, plant and equipment	24,457	14,841
Changes in non-cash working capital balances	892	(7,989)
Cash used in investing activities	(100,794)	(91,150)
Financing:
Redemption and repurchase of unsecured senior notes	(168,722)	(571,975)
Debt issuance costs		(9,196)
Debt amendment fees	(638)	(1,793)
Proceeds from issuance of long-term debt		509,180
Issuance of common shares on the exercise of options	275
Cash used in financing activities	(169,085)	(73,784)
Effect of exchange rate changes on cash and cash equivalents	8,090	(2,245)
Increase (decrease) in cash and cash equivalents	31,545	(50,624)
Cash and cash equivalents, beginning of year	65,081	115,705
Cash and cash equivalents, end of year	$ 96,626	$ 65,081

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, 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)
Net loss for the period	(294,270)				(294,270)
Other comprehensive income (loss) for the period	30,404			30,404
Redemption of non-management directors DSUs	1,800	2,609	(809)
Share options exercised	275	378	(103)
Share based compensation expense	9,207		9,207
Balance at Dec. 31, 2018	$ 1,557,752	$ 2,322,280	$ 52,332	$ 162,014	$ (978,874)

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2018
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, 2018
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 1, 2019. (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), (i), (j) and (s).

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
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 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 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 up 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. Precision’s loan commitment fees are amortized over the term of the respective facility. Software is amortized over its expected useful life of up to 10 years. 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 of 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. 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. If any such indication exists, then the asset or CGU’s recoverable amount is estimated. Judgement is required when evaluating whether a CGU has indications of impairment. For CGUs that contain goodwill and other intangible assets that have indefinite lives or that are not yet available for use, an impairment test is, at a minimum, completed annually as of December 31. 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 a 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 profit or loss 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 profit or loss 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 Corporation 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 from Contracts with Customers The Corporation initially applied IFRS 15 on January 1, 2018, as described in Note 3(t). Precision recognizes revenue from a variety of sources. In general, customer invoices are issued upon rendering all performance obligations for an individual well-site job. Under the Corporation’s standard contract terms, customer payments are to be received within 30 days of the customer’s receipt of an invoice. 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. Revenue from contract drilling services is recognized over time from spud to rig release on a daily basis. Operating days are measured through industry standard tour sheets that document the daily activity of the rig. Revenue is recognized at the applicable day rate for each well, based on rates specified in the drilling contract. The Corporation 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 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. 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. Directional drilling revenue is recognized over time, upon the daily completion of operating activities. Operating days are measured through daily tour sheets. Revenue is 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. Revenue is recognized daily upon completion of services. Operating days are measured through daily tour sheets and field tickets. Revenue is recognized at the applicable daily or hourly rate, as stipulated in the contract. The Corporation offers a variety of oilfield equipment for rental to its customers. Rental revenue is recognized daily at the applicable rate stated in the rental contract. Rental days are measured through field tickets. The Corporation provides accommodation and catering services to customers in remote locations. Customers contract these services either as a package or individually for a fixed term. For accommodation services, the Corporation supplies camp equipment and revenue is recognized over time on a daily basis, once the equipment is on-site and available for use, at the applicable rate stated in the contract. For catering services, the Corporation recognizes revenue daily according to meals served. Accommodation and catering services provided are measured through field tickets. (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 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 profit or loss 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 profit or loss 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 profit or loss 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: The Corporation initially applied IFRS 9, Financial Instruments, on January 1, 2018 as described in Note 3(s). Financial assets and liabilities are classified and measured at amortized cost, fair value through other comprehensive income or fair value through profit and loss. The classification of financial assets and liabilities is generally based on the business model in which the asset or liability is managed and its contractual cash flow characteristics. Financial assets held within a business model whose objective is to collect contractual cash flows and whose contractual terms give rise to cash flows on specified dates that are solely payments of principal and interest on the principal amount outstanding are measured at amortized cost. After their initial fair value measurement, accounts receivable, accounts payable and accrued liabilities and long-term debt are classified and measured at amortized cost using the effective interest rate method. Upon initial recognition of a non-derivative financial asset a loss allowance is recorded for expected credit losses (ECL). Loss allowances for trade receivables are measured based on lifetime ECL that incorporates historical loss information and is adjusted for current economic and credit conditions. 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 financial assets are never separated. Rather, the financial instrument as a whole is assessed for classification. Derivatives embedded in financial liabilities 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 in financial liabilities 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 from fluctuations 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 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 ineffective portions are recorded through profit or loss. A reduction in the fair value of the net investment in the foreign operations or increase in the foreign currency long-term debt balance may result in a portion of the hedge becoming ineffective. If the hedging relationship ceases to be effective or is terminated, hedge accounting is not applied to subsequent gains or losses. The amounts recognized in other comprehensive income are reclassified to profit and loss and the corresponding exchange gains or losses arising from the translation of the foreign operation are recorded through profit and loss upon dissolution or substantial dissolution of the foreign operation. (r) Assets Held For Sale Non-current assets, or disposal groups, are classified as held-for sale if it is highly probable that their carrying amount will be recovered primarily through a sale transaction rather than through continued use. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. Impairment losses on initial classification as held-for-sale and subsequent gains or losses on remeasurement are recognized in profit or loss. (s) 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 of 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. (t) Accounting Standards Adopted January 1, 2018 The following standards were adopted by the Corporation on January 1, 2018 using the cumulative-effect method of adoption. The adoption of these standards had no material impact on the amounts recorded in these financial statements. i) IFRS 9, Financial Instruments Effective January 1, 2018, IFRS 9 replaced 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. Under the new standard, Precision’s accounts receivable, accounts payable and accrued liabilities and long-term debt have been classified and measured at amortized cost. The following table shows the original measurement categories and carrying amounts for each financial asset and liability under IAS 39 and the subsequent measurement and carrying amount upon adoption of IFRS 9 as at January 1, 2018. Measurement Category Carrying Amount (Stated in thousands of Canadian dollars) IAS 39 IFRS 9 IAS 39 IFRS 9 Financial Assets Cash and cash equivalents Loans and receivables Amortized cost $ 65,081 $ 65,081 Accounts receivable Loans and receivables Amortized cost 322,585 322,585 $ 387,666 $ 387,666 Financial Liabilities Accounts payable and accrued liabilities Other financial liabilities Amortized cost $ 209,625 $ 209,625 Long-term debt Other financial liabilities Amortized cost 1,730,437 1,730,437 $ 1,940,062 $ 1,940,062 IFRS 9 replaced 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. Due to low historical default rates, there was no material adjustment to the credit loss allowance. ii) IFRS 15, Revenue from Contracts with Customers IFRS 15 established 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 replaced 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 performance obligations. During its initial application of IFRS 15, the Corporation did not apply any of the available practical expedients. The application of IFRS 15 did not result in a material impact to the Corporation’s consolidated financial statements. For additional information about the Corporation’s accounting policies with respect to revenue recognition, see Note 3(j). (u) Accounting Standards, Interpretations and Amendments to Existing Standards not yet Effective i) IFRS 16, Leases On January 1, 2019, Precision will adopt IFRS 16 - Leases. This standard introduces a single, on-balance sheet lease accounting model for lessees and requires a lessee to recognize a right-of-use asset representing its right to direct the use of the underlying asset as well as a lease liability representing its obligation to make future lease payments. IFRS 16 will also cause expenses to be higher at the beginning and lower towards the end of a lease, even when payments are consistent throughout the term. The standard includes recognition exemptions for short-term leases and leases of low-value items. Lessor accounting remains similar to the current standard in which lessors continue to classify leases as either finance or operating leases. IFRS 16 will replace existing lease guidance, including IAS 17 Leases, IFRIC 4 Determining whether an Arrangement contains a Lease, SIC-15 Operating Leases – Incentives and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. Precision has completed its review of the existing contracts that are currently classified as leases under the existing standard, or that could be classified as leases under IFRS 16, in order to identify the contracts that will be impacted by the new standard from the perspective of both a lessor and a lessee. Management has also estimated the impact that the initial application of IFRS 16 will have on its consolidated financial statements, as described below. The actual impact of adopting the standard on January

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
Disclosure Of Revenue Explanatory [Abstract]
Revenue	NOTE 4. REVENUE The following table includes a reconciliation of disaggregated revenue by reportable segment (Note 5). Revenue has been disaggregated by primary geographical market and type of service provided. Twelve months ended December 31, 2018 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Canada $ 426,475 $ 138,030 $ — $ (5,759 ) $ 558,746 United States 778,886 12,730 — (304 ) 791,312 International 191,131 — — — 191,131 $ 1,396,492 $ 150,760 $ — $ (6,063 ) $ 1,541,189 Day rate/hourly services $ 1,302,575 $ 150,760 $ — $ (1,009 ) $ 1,452,326 Shortfall payments/idle but contracted 12,520 — — — 12,520 Turnkey drilling services 37,811 — — — 37,811 Directional services 31,943 — — — 31,943 Other 11,643 — — (5,054 ) 6,589 $ 1,396,492 $ 150,760 $ — $ (6,063 ) $ 1,541,189 Twelve months ended December 31, 2017 (1) Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Canada $ 429,119 $ 139,113 $ — $ (5,982 ) $ 562,250 United States 554,410 15,033 — (870 ) 568,573 International 190,401 — — — 190,401 $ 1,173,930 $ 154,146 $ — $ (6,852 ) $ 1,321,224 Day rate/hourly services $ 1,076,018 $ 154,146 $ — $ (1,614 ) $ 1,228,550 Shortfall payments/idle but contracted 39,468 — — — 39,468 Turnkey drilling services 12,306 — — — 12,306 Directional services 34,481 — — — 34,481 Other 11,657 — — (5,238 ) 6,419 $ 1,173,930 $ 154,146 $ — $ (6,852 ) $ 1,321,224 (1) IFRS 15 initially applied at January 1, 2018; under the transition method chosen, comparative information is not restated.

Segmented Information

Segmented Information	12 Months Ended
	Dec. 31, 2018
Disclosure Of Operating Segments [Abstract]
Segmented Information	NOTE 5. 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. 2018 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Revenue $ 1,396,492 $ 150,760 $ — $ (6,063 ) $ 1,541,189 Operating loss (129,965 ) (8,998 ) (59,110 ) — (198,073 ) Depreciation and amortization 334,555 23,879 7,226 — 365,660 Impairment of goodwill 207,544 — — — 207,544 Total assets 3,301,457 170,113 164,473 — 3,636,043 Goodwill — — — — — Capital expenditures 108,610 5,004 12,529 — 126,143 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 A reconciliation of operating loss to loss before income taxes is as follows: 2018 2017 Total segment operating loss $ (198,073 ) $ (88,078 ) Add (deduct): Foreign exchange 4,017 (2,970 ) Finance charges 127,178 137,928 Loss (gain) on redemption and repurchase of unsecured senior notes (5,672 ) 9,021 Loss before income taxes $ (323,596 ) $ (232,057 ) The Corporation’s operations are carried on in the following geographic locations: 2018 Canada United States International Eliminations Total Revenue $ 571,640 $ 797,217 $ 191,131 $ (18,799 ) $ 1,541,189 Total assets 1,269,542 1,772,850 593,651 — 3,636,043 2017 Canada United States International 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

Assets Held for Sale

Assets Held for Sale	12 Months Ended
	Dec. 31, 2018
Noncurrent Assets Or Disposal Groups Classified As Held For Sale Or As Held For Distribution To Owners [Abstract]
Assets Held for Sale	NOTE 6. ASSETS HELD FOR SALE In December 2018, Precision committed to a plan to sell drilling rigs that no longer met the Corporation’s High-Performance technology standards. The disposal group, contained within its Contract Drilling Services segment, has been classified as held for sale and measured at the lower of its carrying value and fair value less costs to sell. At December 31, 2018, the disposal group was stated at its carrying value of $19.7 million, which is less than its estimated fair value. Efforts to sell the disposal group have started and are expected to be completed prior to December 31, 2019.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2018
Disclosure Of Property Plant And Equipment [Abstract]
Property, Plant and Equipment	NOTE 7. PROPERTY, PLANT AND EQUIPMENT 2018 2017 Cost $ 6,937,062 $ 6,733,634 Accumulated depreciation (3,898,450 ) (3,559,810 ) $ 3,038,612 $ 3,173,824 Rig equipment 2,745,172 2,823,782 Rental equipment 43,992 60,179 Other equipment 52,195 66,560 Vehicles 12,702 16,280 Buildings 65,561 71,102 Assets under construction 84,561 102,035 Land 34,429 33,886 $ 3,038,612 $ 3,173,824 Cost Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total 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 Additions 7,013 — 347 — 569 106,647 — 114,576 Disposals (32,153 ) (18,227 ) (59,865 ) (228 ) (3,663 ) — (893 ) (115,029 ) Reclassifications 127,668 — 507 — — (128,175 ) — — Reclassification to assets held for sale (135,398 ) — — — — — — (135,398 ) Effect of foreign currency exchange differences 321,240 679 5,351 2,483 4,036 4,054 1,436 339,279 Balance, December 31, 2018 $ 6,322,536 $ 130,463 $ 191,290 $ 45,456 $ 128,327 $ 84,561 $ 34,429 $ 6,937,062 Accumulated Depreciation Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total 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 Depreciation expense 335,215 9,418 15,993 4,820 8,126 — — 373,572 Disposals (28,399 ) (11,249 ) (59,857 ) (220 ) (3,161 ) — — (102,886 ) Reclassification to assets held for sale (115,740 ) — — — — — — (115,740 ) Effect of foreign currency exchange differences 175,904 470 4,569 1,233 1,518 — — 183,694 Balance, December 31, 2018 $ 3,577,364 $ 86,471 $ 139,095 $ 32,754 $ 62,766 $ — $ — $ 3,898,450 a) Impairment Test Precision reviews the carrying value of its long-lived assets at each reporting period for indications of impairment. Precision completed its review as at December 31, 2018 and impairment charges of $207.5 million were recorded against goodwill. Refer to Note 9 for additional discussion of impairment testing performed in the current year. As at December 31, 2017, the Corporation determined that the uncertainty around future activity levels within Mexico was an indication of impairment and a comprehensive assessment of the carrying values of property, plant and equipment of the Mexico drilling CGU within the Contract Drilling Services segment was performed. The recoverable amount of the Mexico drilling CGU 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 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 after-tax 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%. 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, 2018
Disclosure Of Intangible Assets [Abstract]
Intangibles	NOTE 8. INTANGIBLES 2018 2017 Cost $ 51,912 $ 39,707 Accumulated amortization (16,511 ) (11,591 ) $ 35,401 $ 28,116 Loan commitment fees related to Senior Credit Facility $ 2,307 $ 3,120 Software 33,094 24,996 $ 35,401 $ 28,116 Cost Loan Commitment Fees Software Total 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 Additions 638 11,567 12,205 Balance, December 31, 2018 $ 14,776 $ 37,136 $ 51,912 Accumulated Amortization Loan Commitment Fees Software Total Balance, December 31, 2016 $ 9,029 $ — $ 9,029 Amortization expense 1,989 573 2,562 Balance, December 31, 2017 11,018 573 11,591 Amortization expense 1,451 3,469 4,920 Balance, December 31, 2018 $ 12,469 $ 4,042 $ 16,511

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2018
Disclosure Of Goodwill [Abstract]
Goodwill	NOTE 9. GOODWILL Balance, December 31, 2016 $ 207,399 Exchange adjustment (2,232 ) Balance, December 31, 2017 205,167 Exchange adjustment 2,377 Impairment charge (207,544 ) Balance, December 31, 2018 $ — Management performed its annual impairment test for those CGUs containing goodwill and determined the goodwill associated with the Canada contract drilling CGU of $172.2 million and U.S. directional drilling CGU of $35.3 million were not recoverable at December 31, 2018. Accordingly, an impairment charge of $207.5 million was recorded in the statement of loss for the period ended December 31, 2018. Both CGUs are contained within the Contract Drilling Services segment. In performing its annual goodwill 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 the Corporation’s Board of Directors. These strategic plans were developed based on benchmark commodity prices and industry supply-demand fundamentals. Canada Contract Drilling Cash flows used in the impairment calculation were discounted using a discount rate specific to the Canada contract drilling CGU. The after-tax 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 Canada contract drilling CGU was 11.66% (2017 – 9.72%). The test resulted in a goodwill impairment charge of $172.2 million as the carrying value of the CGU’s assets exceeded its value in use of $941.6 million. The key assumptions used in the calculation of the CGU’s value in use included the discount rate and terminal value growth rates of nil. An increase of 0.5% to the discount rate would result in approximately $37.3 million of additional impairment charges to the remaining assets within the CGU. US Directional Drilling Cash flows used in the impairment calculation were discounted using a discount rate specific to the U.S. directional drilling CGU. The after-tax 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 U.S. directional drilling CGU was 12.16% (2017 – 11.72%). The test resulted in a goodwill impairment charge of $35.3 million as the carrying value of the CGU’s assets exceeded its value in use of $38.8 million. The key assumptions used in the calculation of the CGU’s value in use included the discount rate and terminal value growth rates of nil. An increase of 0.5% to the discount rate would result in approximately $2.4 million of additional impairment charges to the remaining assets within the CGU.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2018
Disclosure Of Long Term Debt [Abstract]
Long-Term Debt	NOTE 10. LONG-TERM DEBT 2018 2017 2018 2017 Senior Credit Facility US $ — US $ — $ — $ — Unsecured senior notes: 6.5% senior notes due 2021 165,625 248,625 226,113 312,601 7.75% senior notes due 2023 350,000 350,000 477,823 440,062 5.25% senior notes due 2024 351,104 400,000 479,331 502,928 7.125% senior notes due 2026 400,000 400,000 546,084 502,928 US $ 1,266,729 US $ 1,398,625 1,729,351 1,758,519 Less net unamortized debt issue costs (23,098 ) (28,082 ) $ 1,706,253 $ 1,730,437 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 ) Non-cash changes: 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 Changes from financing cash flows: Redemption of senior notes — (168,722 ) — (168,722 ) Non-cash changes: Gain on redemption of unsecured senior notes — (5,672 ) — (5,672 ) Amortization of debt issue costs — — 4,984 4,984 Foreign exchange adjustment — 145,226 — 145,226 Balance December 31, 2018 $ — $ 1,729,351 $ (23,098 ) $ 1,706,253 (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 (US$300.0 million after March 31, 2019). The Senior Credit Facility is secured by charges on substantially all of the present and future assets of Precision, its material U.S. and Canadian subsidiaries and, if necessary, to adhere to covenants under the Senior Credit Facility, certain subsidiaries organized in jurisdictions outside of Canada and the U.S. The Senior Credit Facility requires that Precision comply with certain financial covenants including a leverage ratio of consolidated senior debt to consolidated Covenant EBITDA (as defined in the debt agreement) of less than 2.5:1. For purposes of calculating the leverage ratio consolidated senior debt only includes secured indebtedness. It also requires the Corporation to maintain a ratio of consolidated Covenant EBITDA to consolidated interest expense for the most recent four consecutive quarters, of greater than 2.0:1 for the periods ending December 31, 2018 and March 31, 2019. For periods ending after March 31, 2019 the ratio reverts to 2.5:1. 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 restrictive covenants that limit Precision’s ability to incur 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, 2018, 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, 2022. Under the Senior Credit Facility, amounts can be drawn in U.S. dollars and/or Canadian dollars and, as at December 31, 2018 and 2017 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, 2018 outstanding letters of credit amounted to US$28.2 million (2017 – US$20.9 million). The interest rate on loans that are denominated in U.S. dollars is, at the option of Precision, either a margin over a U.S. base rate or a margin over LIBOR. The interest rate on loans denominated in Canadian dollars is, at the option of Precision, either a margin over the Canadian prime rate or a margin over the bankers’ acceptance rate; such margins will be based on the then applicable ratio of consolidated total debt to EBITDA. (b) Unsecured Senior Notes: Precision has outstanding the following unsecured senior notes: 6.5% US$ 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. Precision may redeem these notes in whole or in part before December 15, 2019, at a redemption price of During 2018, Precision redeemed US$80.0 million and repurchased and cancelled US$3.0 million of these notes for an aggregate purchase price of US$84.5 million. The difference was recognized as a loss on redemption of unsecured senior notes within the consolidated statement of loss. 7.75% US$ 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. 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. 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. During 2018, Precision repurchased and cancelled US$48.9 million of these notes for an aggregate purchase price of US$43.2 million. The difference was recognized as a gain on repurchase of unsecured senior notes within the consolidated statement of loss. 7.125% US$ 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. 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, 2018, our senior notes Consolidated Interest Coverage Ratio was 2.80:1. 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, 2018, the governing restricted payments basket was negative $496 million (2017 – negative $213 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, 2018. 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 Long-term debt obligations at December 31, 2018 will mature as follows: 2021 $ 226,113 2023 477,823 Thereafter 1,025,415 $ 1,729,351

Other Recoveries

Other Recoveries	12 Months Ended
	Dec. 31, 2018
Disclosure Of Other Recoveries [Abstract]
Other Recoveries	NOTE 11. OTHER RECOVERIES For the period ended December 31, 2018, the Corporation had other recoveries of $14.2 million (2017 – nil) relating to the recovery of Corporate transactions costs resulting from the termination of an arrangement agreement to acquire an oil and gas drilling contractor.

Finance Charges

Finance Charges	12 Months Ended
	Dec. 31, 2018
Finance Costs [Abstract]
Finance Charges	NOTE 12. FINANCE CHARGES 2018 2017 Interest: Long-term debt $ 121,810 $ 128,381 Other 378 1,083 Income (1,444 ) (1,858 ) Amortization of debt issue costs 6,434 10,162 Other — 160 Finance charges $ 127,178 $ 137,928

Share Based Compensation Plans

Share Based Compensation Plans	12 Months Ended
	Dec. 31, 2018
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]
Share Based Compensation Plans	NOTE 13. SHARE BASED COMPENSATION PLANS In May 2017 shareholders approved an omnibus equity incentive plan (Omnibus Plan) that allows the Corporation to settle short-term incentive awards (annual bonus) and long-term incentive awards (options, performance share units 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, 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 Expensed during the period 5,223 398 — 769 6,390 Payments (6,764 ) (7,284 ) — (1,800 ) (15,848 ) Balance, December 31, 2018 $ 5,409 $ 4,521 $ — $ 2,481 $ 12,411 Current $ 3,112 $ 2,779 $ — $ — $ 5,891 Long-term 2,297 1,742 — 2,481 6,520 $ 5,409 $ 4,521 $ — $ 2,481 $ 12,411 (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, 2016 3,129,039 6,493,798 Granted 1,343,669 828,400 Redeemed (1,404,271 ) (1,325,692 ) Forfeited (271,579 ) (270,247 ) December 31, 2017 2,796,858 5,726,259 Granted 2,918,912 1,292,550 Redeemed (1,404,284 ) (2,137,163 ) Forfeited (255,572 ) (338,656 ) December 31, 2018 4,055,914 4,542,990 (b) Share Appreciation Rights The Corporation had 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. There were no SARs outstanding at December 31, 2018. The SARs vested over a period of five years and expired 10 years from the date of grant. At December 31, 2018 and 2017 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, 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 Forfeited (136,169 ) 15.22 – 15.22 — December 31, 2018 — $ — $ — — (c) Non-Management Directors Effective January 1, 2012, Precision instituted a 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, 2016 621,821 Granted 331,456 Balance December 31, 2017 953,277 Granted 474,766 Redeemed (374,408 ) Balance December 31, 2018 1,053,635 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 Redeemed (102,570 ) December 31, 2018 93,173 (e) Option Plan 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, 2016 6,188,672 $ 4.46 – 14.50 $ 8.70 4,369,155 Granted 377,100 7.30 – 7.30 7.30 Forfeited (1,665,412 ) 7.32 – 14.50 8.98 December 31, 2017 4,900,360 4.46 – 14.50 8.50 3,734,019 Granted 490,200 4.35 – 4.35 4.35 Forfeited (657,404 ) 10.44 – 14.50 10.58 December 31, 2018 4,733,156 $ 4.35 – 14.31 $ 7.78 3,786,473 U.S. Share Options Options Outstanding Range of Exercise Prices (US$) Weighted Average Exercise Price (US$) Options Exercisable 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 Forfeited (944,349 ) 5.79 – 10.96 8.42 December 31, 2017 5,558,621 3.21 – 15.21 6.16 2,891,808 Granted 1,569,250 3.44 – 3.62 3.45 Exercised (66,000 ) 3.21 – 3.21 3.21 Forfeited (996,021 ) 3.21 – 15.21 8.08 December 31, 2018 6,065,850 $ 3.21 – 10.74 $ 5.17 3,224,078 The weighted average share price at the date of exercise for the U.S. share options exercised in 2018 was 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 $ 4.34 – 6.99 1,105,400 $ 4.41 5.04 410,122 $ 4.46 7.00 – 8.99 1,539,001 7.32 3.58 1,287,596 7.33 9.00 – 14.31 2,088,755 9.90 1.12 2,088,755 9.90 $ 4.34 – 14.31 4,733,156 $ 7.78 2.83 3,786,473 $ 8.43 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 – 3.99 3,046,950 $ 3.33 5.18 995,888 $ 3.21 4.00 – 6.99 1,924,500 5.61 4.37 1,133,790 5.66 7.00 – 10.74 1,094,400 9.52 1.19 1,094,400 9.52 $ 3.21 – 10.74 6,065,850 $ 5.17 4.20 3,224,078 $ 6.22 The per option weighted average fair value of the share options granted during 2018 was $1.96 (2017 – $1.59) estimated on the grant date using the Black-Scholes option pricing model with the following assumptions: average risk-free interest rate of 2% (2017 – 1%), average expected life of four years (2017 – four years), expected forfeiture rate of 5% (2017 – 5%) and expected volatility of 56% (2017 – 54%). Included in net loss for the year ended December 31, 2018 is an expense of $3.3 million (2017 – $3.2 million). (f) Executive Performance Share Units During 2018 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 Granted 2,082,800 6.22 Forfeited (50,733 ) 6.12 December 31, 2018 3,191,067 $ 6.14 The per unit weighted average fair value of the performance share units granted during 2018 was $6.22 (2017 – $6.00) estimated on the grant date using a Monte Carlo simulation with the following assumptions: share price of $4.29 (2017 – $5.08), average risk-free interest rate of 2.3% (2017 – 1.2%), average expected life of three years (2017 – three years), expected volatility of 59% (2017 – 60%), and an expected dividend yield of nil (2017 – nil). Included in net loss for year ended December 31, 2018 is an expense of $5.9 million (2017 - $1.9 million). 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 2018, the Corporation recorded compensation expense of $0.7 million (2017 – $0.8 million) related to this plan.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Net Deferred Tax Assets And Liabilities [Abstract]
Income Taxes	NOTE 14. 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: 2018 2017 Loss before income taxes $ (323,596 ) $ (232,057 ) Federal and provincial statutory rates 27 % 27 % Tax at statutory rates $ (87,371 ) $ (62,655 ) Adjusted for the effect of: Non-deductible expenses 49,455 2,672 Non-taxable capital gains (845 ) (175 ) Income taxed at lower rates — (42,334 ) Impact of foreign tax rates 4,861 (2,814 ) Withholding taxes 1,061 1,165 Taxes related to prior years 3,803 (618 ) Other (290 ) 4,738 Income tax recovery $ (29,326 ) $ (100,021 ) 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. For the period ending December 31, 2017 Precision 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 $2.4 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: 2018 2017 Deferred income tax liability: Property, plant and equipment and intangibles $ 467,109 $ 454,613 Debt issue costs 3,534 3,352 Partnership deferrals 1,730 — Other 5,722 6,709 478,095 464,674 Offsetting of assets and liabilities (405,316 ) (345,763 ) 72,779 118,911 Deferred income tax assets: Losses (expire from time to time up to 2037) 423,595 368,133 Partnership deferrals — 335 Long-term incentive plan 6,849 7,935 Other 11,752 11,182 442,196 387,585 Offsetting of assets and liabilities (405,316 ) (345,763 ) 36,880 41,822 Net deferred income tax liability $ 35,899 $ 77,089 Included in the deferred income tax assets is $33.2 million (2017 – $38.8 million) of tax-effected temporary differences related to the Corporation’s U.S. operations. The Corporation has certain loss carryforwards in 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 $37.1 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, 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 Recognized in net loss (9,667 ) 2,065 (1,005 ) (30,660 ) 182 1,325 (139 ) (37,899 ) Effect of foreign currency exchange differences 22,163 — 18 (24,802 ) — (239 ) (431 ) (3,291 ) Balance, December 31, 2018 $ 467,109 $ 1,730 $ 5,722 $ (423,595 ) $ 3,534 $ (6,849 ) $ (11,752 ) $ 35,899 On December 31, 2018, Precision had $2.0 million (2017 – $2.0 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, 2018 was interest and penalties of $0.5 million (2017 – $0.5 million). Reconciliation of Uncertain Tax Positions 2018 2017 Unrecognized tax benefits, beginning of year $ 1,980 $ 1,923 Additions: Prior year’s tax positions 60 57 Reductions: Prior year’s tax positions — — Unrecognized tax benefits, end of year $ 2,040 $ 1,980 It is anticipated that approximately $2.0 million (2017 – $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.

Bank Indebtedness

Bank Indebtedness	12 Months Ended
	Dec. 31, 2018
Debt Instruments Held [Abstract]
Bank Indebtedness	NOTE 15. BANK INDEBTEDNESS At December 31, 2018, Precision had available $40.0 million (2017 – $40.0 million) and US$15.0 million (2017 – US$15.0 million) under secured operating facilities, and a secured US$30.0 million (2017 – 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, 2018 and 2017, 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 $27.8 million (2017 – $20.8 million) and US$2.1 million (2017 – US$13.3 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 rate plus 80% of applicable margin, or Banker’s Acceptance plus 80% of applicable margin, or in combination, and under the US$15.0 million facility at the bank’s prime lending rate.

Provisions and Other

Provisions and Other	12 Months Ended
	Dec. 31, 2018
Disclosure Of Other Provisions [Abstract]
Provisions and Other	Workers’ Compensation 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 Expensed during the year 3,359 Payment of deductibles and uninsured claims (4,271 ) Effects of foreign currency exchange differences 1,053 Balance December 31, 2018 $ 13,373 2018 2017 Current $ 2,796 $ 3,146 Long-term 10,577 10,086 $ 13,373 $ 13,232 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.

Shareholders' Capital

Shareholders' Capital	12 Months Ended
	Dec. 31, 2018
Disclosure Of Classes Of Share Capital [Abstract]
Shareholders' Capital	NOTE 17. 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 Issued on redemption of non-management directors' DSUs 476,978 $ 2,609 Options exercised – cash consideration 66,000 275 – reclassification from contributed surplus — 103 Balance, December 31, 2018 293,781,836 $ 2,322,280

Per Share Amounts

Per Share Amounts	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Per Share Amounts	NOTE 18. PER SHARE AMOUNTS The following tables reconcile the net loss and weighted average shares outstanding used in computing basic and diluted loss per share: 2018 2017 Net loss – basic and diluted $ (294,270 ) $ (132,036 ) (Stated in thousands) 2018 2017 Weighted average shares outstanding – basic 293,560 293,239 Effect of stock options and other equity compensation plans — — Weighted average shares outstanding – diluted 293,560 293,239

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2018
Text Block1 [Abstract]
Accumulated Other Comprehensive Income	NOTE 19. ACCUMULATED OTHER COMPREHENSIVE INCOME Unrealized Foreign Currency Translation Gains (Losses) Foreign Exchange Gain (Loss) on Net Investment Hedge Accumulated Other Comprehensive Income 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 Other comprehensive income 175,630 (145,226 ) 30,404 December 31, 2018 $ 616,363 $ (454,349 ) $ 162,014

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Employees Benefit Plans [Abstract]
Employee Benefit Plans	NOTE 20. 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 2018 was $12.0 million (2017 – $10.4 million).

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 21. RELATED PARTY TRANSACTIONS Compensation of Key Management Personnel The remuneration of key management personnel is as follows: 2018 2017 Salaries and other benefits $ 6,732 $ 6,078 Equity settled share based compensation 5,562 3,036 Cash settled share based compensation 722 (3,945 ) $ 13,016 $ 5,169 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, 2018
Commitments [Abstract]
Commitments	NOTE 22. 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: 2018 2017 Less than one year $ 13,496 $ 12,248 Between one and five years 36,639 27,445 Later than five years 17,797 21,909 $ 67,932 $ 61,602 Certain leased properties were sublet by the Corporation. The following amounts were recognized as expenses in respect of operating leases in the consolidated statements of loss: 2018 2017 Operating leases $ 17,187 $ 16,311 Sub-lease recoveries (540 ) (441 ) $ 16,647 $ 15,870 Capital Commitments At December 31, 2018, the Corporation had commitments to purchase property, plant and equipment totaling $179.8 million (2017 – $132.9 million). Payments of $88.0 million for these commitments are expected to be made in 2019, $73.6 million in

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2018
Disclosure Of Financial Instruments [Abstract]
Financial Instruments	NOTE 23. 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 $18.1 million of the trade receivables amount at December 31, 2018 (2017 – $11.7 million). The movement in the expected credit loss allowance during the year was as follows: 2018 2017 Balance at January 1 $ 2,596 $ 6,072 Impairment loss recognized 483 56 Amounts written-off as uncollectible (416 ) (3,296 ) Impairment loss reversed (1,247 ) (30 ) Effect of movement in exchange rates 54 (206 ) Balance at December 31 $ 1,470 $ 2,596 The ageing of trade receivables at December 31 was as follows: 2018 2017 Gross Provision for Impairment Gross Provision for Impairment Not past due $ 175,277 $ — $ 92,880 $ — Past due 0 – 30 days 64,351 — 66,723 — Past due 31 – 120 days 25,032 71 19,410 580 Past due more than 120 days 1,399 1,399 2,016 2,016 $ 266,059 $ 1,470 $ 181,029 $ 2,596 (b) Interest Rate Risk As at December 31, 2018 and 2017, all of Precision’s outstanding long-term debt 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. The Corporation would have exposure to interest rates if it were to draw upon its Senior Credit Facility. (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: 2018 2017 Canadian Operations (1) Foreign Operations Canadian Operations (1) Foreign. Operations Cash $ 957 $ 49,302 $ 1,720 $ 39,636 Accounts receivable 482 181,609 — 152,216 Accounts payable and accrued liabilities (20,655 ) (122,417 ) (13,221 ) (98,008 ) Long-term liabilities, excluding long-term incentive plans — (7,747 ) — (8,023 ) Net foreign currency exposure $ (19,216 ) $ 100,747 $ (11,501 ) $ 85,821 Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on net loss $ (192 ) $ — $ (115 ) $ — Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on comprehensive loss $ — $ 1,007 $ — $ 858 (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, 2018: 2019 2020 2021 2022 2023 Thereafter Total Accounts payable and accrued liabilities $ 274,489 $ — $ — $ — $ — $ — $ 274,489 Share based compensation 6,221 4,357 6,082 — — — 16,660 Long-term debt — — 226,113 — 477,823 1,025,415 1,729,351 Interest on long-term debt (1) 115,802 115,802 115,190 101,105 99,562 101,457 648,918 Commitments 101,542 84,404 27,811 8,604 7,617 17,797 247,775 Total $ 498,054 $ 204,563 $ 375,196 $ 109,709 $ 585,002 $ 1,144,669 $ 2,917,193 (1) Interest has been calculated based on debt balances, interest rates, and foreign exchange rates in effect as at December 31, 2018 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, 2018 was approximately $1,548 million (2017 – $1,765 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, 2018
Capital Management [Abstract]
Capital Management	NOTE 24. 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, 2018 and 2017, these ratios were as follows: 2018 2017 Long-term debt $ 1,706,253 $ 1,730,437 Shareholders’ equity 1,557,752 1,810,336 Total capitalization $ 3,264,005 $ 3,540,773 Long-term debt to long-term debt plus equity ratio 0.52 0.49 As at December 31, 2018, liquidity remained sufficient as Precision had $96.6 million (2017 – $65.1 million) in cash and access to the US$500.0 million Senior Credit Facility (2017 – US$500.0 million) and $101.4 million (2017 – $96.6 million) secured operating facilities. As at December 31, 2018, no amounts (2017 – US$ nil) were drawn on the Senior Credit Facility with availability reduced by US$28.2 million (2017 – US$20.9 million) in outstanding letters of credit. Availability of the $40.0 million secured operating facility and US$30.0 million secured facility for the issuance of letters of credit and performance and bid bonds were reduced by outstanding letters of credit of $27.8 million (2017 – $20.8 million) and US$2.1 million (2017 – US$ 13.3 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, 2018
Disclosure Of Supplemental Information [Abstract]
Supplemental Information	NOTE 25. SUPPLEMENTAL INFORMATION Components of changes in non-cash working capital balances are as follows: 2018 2017 Accounts receivable $ (32,709 ) $ (41,309 ) Inventory (7,504 ) (3,902 ) Accounts payable and accrued liabilities 23,225 (30,158 ) $ (16,988 ) $ (75,369 ) Pertaining to: Operations $ (17,880 ) $ (67,380 ) Investments $ 892 $ (7,989 ) The components of accounts receivable are as follows: 2018 2017 Trade $ 264,589 $ 178,433 Accrued trade 47,426 91,708 Prepaids and other 60,321 52,444 $ 372,336 $ 322,585 The components of accounts payable and accrued liabilities are as follows: 2018 2017 Accounts payable $ 129,493 $ 87,436 Accrued liabilities: Payroll 73,682 58,550 Other 71,314 63,639 $ 274,489 $ 209,625 Precision presents expenses in the consolidated statements of earnings by function with the exception of depreciation and amortization and impairment of property, plant and equipment, which are presented by nature. Operating expense and general and administrative expense would include $358.4 million and $7.2 million (2017 – $364.2 million and $13.5 million), respectively, of depreciation and amortization 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: 2018 2017 Wages, salaries and benefits $ 728,101 $ 580,482 Purchased materials, supplies and services 422,359 433,827 Share based compensation 15,598 1,934 $ 1,166,058 $ 1,016,243 Allocated to: Operating expense $ 1,067,871 $ 926,171 General and administrative 112,387 90,072 Other recoveries (14,200 ) — $ 1,166,058 $ 1,016,243

Contingencies and Guarantees

Contingencies and Guarantees	12 Months Ended
	Dec. 31, 2018
Disclosure Of Contingent Liabilities [Abstract]
Contingencies and Guarantees	NOTE 26. 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.

Long-Term Debt Guarantor Disclo

Long-Term Debt Guarantor Disclosure	12 Months Ended
	Dec. 31, 2018
Long Term Debt Guarantor Disclosure [Abstract]
Long-Term Debt Guarantor Disclosure	NOTE 27. LONG-TERM DEBT GUARANTOR DISCLOSURE Condensed Consolidating Statement of Financial Position as at December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Cash $ 28,626 $ 37,138 $ 30,862 $ — $ 96,626 Other current assets 4,798 308,450 93,166 3 406,417 Intercompany receivables 51,616 1,887,405 80,735 (2,019,756 ) — Investments in subsidiaries 4,522,964 68 — (4,523,032 ) — Assets held for sale — 19,658 — — 19,658 Property, plant and equipment 55,430 2,541,060 441,509 613 3,038,612 Intangibles 33,548 1,853 — — 35,401 Goodwill — — — — — Other long-term assets — 46,620 5,479 (12,770 ) 39,329 Total assets $ 4,696,982 $ 4,842,252 $ 651,751 $ (6,554,942 ) $ 3,636,043 Liabilities and shareholders’ equity Current liabilities $ 42,211 $ 190,239 $ 49,712 $ — $ 282,162 Intercompany payables and debt 1,918,306 60,101 41,349 (2,019,756 ) — Long-term debt 1,706,253 — — — 1,706,253 Other long-term liabilities 88,983 13,160 503 (12,770 ) 89,876 Total liabilities 3,755,753 263,500 91,564 (2,032,526 ) 2,078,291 Shareholders’ equity 941,229 4,578,752 560,187 (4,522,416 ) 1,557,752 Total liabilities and shareholders’ equity $ 4,696,982 $ 4,842,252 $ 651,751 $ (6,554,942 ) $ 3,636,043 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 Loss for the Year ended December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenue $ 104 $ 1,356,913 $ 191,131 $ (6,959 ) $ 1,541,189 Operating expense 83 950,058 124,689 (6,959 ) 1,067,871 General and administrative expense 52,638 49,305 10,444 — 112,387 Other recoveries (14,200 ) — — — (14,200 ) Earnings (loss) before income taxes, equity in loss of subsidiaries, gain on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of goodwill and depreciation and amortization (38,417 ) 357,550 55,998 — 375,131 Depreciation and amortization 6,882 298,019 60,542 217 365,660 Impairment of goodwill — 207,544 — — 207,544 Foreign exchange 4,819 (443 ) (359 ) — 4,017 Finance charges 126,758 (233 ) 653 — 127,178 Gain on redemption and repurchase of unsecured senior notes (5,672 ) — — — (5,672 ) Equity in loss of subsidiaries 168,975 — — (168,975 ) — Loss before income taxes (340,179 ) (147,337 ) (4,838 ) 168,758 (323,596 ) Income taxes (46,125 ) 13,863 2,936 — (29,326 ) Net loss $ (294,054 ) $ (161,200 ) $ (7,774 ) $ 168,758 $ (294,270 ) Condensed Consolidating Statement of Earnings (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, equity in loss of subsidiaries, 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 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 income taxes (181,062 ) (33,430 ) (4,962 ) (12,603 ) (232,057 ) Income taxes (47,567 ) (59,120 ) 6,666 — (100,021 ) Net income (loss) $ (133,495 ) $ 25,690 $ (11,628 ) $ (12,603 ) $ (132,036 ) Condensed Consolidating Statement of Comprehensive Income (Loss) for the Year ended December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net loss (294,054 ) (161,200 ) (7,774 ) 168,758 $ (294,270 ) Other comprehensive income (loss) (145,226 ) 129,804 45,190 636 30,404 Comprehensive Income (loss) $ (439,280 ) $ (31,396 ) $ 37,416 $ 169,394 $ (263,866 ) Condensed Consolidating Statement of Comprehensive Loss for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (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 Cash Flow for the Year ended December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Cash provided by (used in): Operations $ (102,901 ) $ 351,782 $ 44,453 $ — $ 293,334 Investments 277,501 (75,740 ) (16,253 ) (286,302 ) (100,794 ) Financing (169,085 ) (247,017 ) (39,285 ) 286,302 (169,085 ) Effects of exchange rate changes on cash and cash equivalents 2,268 2,691 3,131 — 8,090 Increase (decrease) in cash and cash equivalents 7,783 31,716 (7,954 ) — 31,545 Cash and cash equivalents, beginning of year 20,843 5,422 38,816 — 65,081 Cash and cash equivalents, end of year $ 28,626 $ 37,138 $ 30,862 $ — $ 96,626 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

Subsidiaries

Subsidiaries	12 Months Ended
	Dec. 31, 2018
Disclosure Of Significant Investments In Subsidiaries [Abstract]
Subsidiaries	NOTE 28. SUBSIDIARIES Significant Subsidiaries Ownership Interest Country of Incorporation 2018 2017 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 Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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 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 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 up 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. Precision’s loan commitment fees are amortized over the term of the respective facility. Software is amortized over its expected useful life of up to 10 years. 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 of Non-Financial Assets	(g) Impairment of 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. 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. If any such indication exists, then the asset or CGU’s recoverable amount is estimated. Judgement is required when evaluating whether a CGU has indications of impairment. For CGUs that contain goodwill and other intangible assets that have indefinite lives or that are not yet available for use, an impairment test is, at a minimum, completed annually as of December 31. 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 a 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 profit or loss 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 profit or loss 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 Corporation 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 from Contracts with Customers	(j) Revenue from Contracts with Customers The Corporation initially applied IFRS 15 on January 1, 2018, as described in Note 3(t). Precision recognizes revenue from a variety of sources. In general, customer invoices are issued upon rendering all performance obligations for an individual well-site job. Under the Corporation’s standard contract terms, customer payments are to be received within 30 days of the customer’s receipt of an invoice. 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. Revenue from contract drilling services is recognized over time from spud to rig release on a daily basis. Operating days are measured through industry standard tour sheets that document the daily activity of the rig. Revenue is recognized at the applicable day rate for each well, based on rates specified in the drilling contract. The Corporation 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 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. 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. Directional drilling revenue is recognized over time, upon the daily completion of operating activities. Operating days are measured through daily tour sheets. Revenue is 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. Revenue is recognized daily upon completion of services. Operating days are measured through daily tour sheets and field tickets. Revenue is recognized at the applicable daily or hourly rate, as stipulated in the contract. The Corporation offers a variety of oilfield equipment for rental to its customers. Rental revenue is recognized daily at the applicable rate stated in the rental contract. Rental days are measured through field tickets. The Corporation provides accommodation and catering services to customers in remote locations. Customers contract these services either as a package or individually for a fixed term. For accommodation services, the Corporation supplies camp equipment and revenue is recognized over time on a daily basis, once the equipment is on-site and available for use, at the applicable rate stated in the contract. For catering services, the Corporation recognizes revenue daily according to meals served. Accommodation and catering services provided are measured through field tickets.
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 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 profit or loss 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 profit or loss 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 profit or loss 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: The Corporation initially applied IFRS 9, Financial Instruments, on January 1, 2018 as described in Note 3(s). Financial assets and liabilities are classified and measured at amortized cost, fair value through other comprehensive income or fair value through profit and loss. The classification of financial assets and liabilities is generally based on the business model in which the asset or liability is managed and its contractual cash flow characteristics. Financial assets held within a business model whose objective is to collect contractual cash flows and whose contractual terms give rise to cash flows on specified dates that are solely payments of principal and interest on the principal amount outstanding are measured at amortized cost. After their initial fair value measurement, accounts receivable, accounts payable and accrued liabilities and long-term debt are classified and measured at amortized cost using the effective interest rate method. Upon initial recognition of a non-derivative financial asset a loss allowance is recorded for expected credit losses (ECL). Loss allowances for trade receivables are measured based on lifetime ECL that incorporates historical loss information and is adjusted for current economic and credit conditions. 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 financial assets are never separated. Rather, the financial instrument as a whole is assessed for classification. Derivatives embedded in financial liabilities 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 in financial liabilities 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 from fluctuations 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 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 ineffective portions are recorded through profit or loss. A reduction in the fair value of the net investment in the foreign operations or increase in the foreign currency long-term debt balance may result in a portion of the hedge becoming ineffective. If the hedging relationship ceases to be effective or is terminated, hedge accounting is not applied to subsequent gains or losses. The amounts recognized in other comprehensive income are reclassified to profit and loss and the corresponding exchange gains or losses arising from the translation of the foreign operation are recorded through profit and loss upon dissolution or substantial dissolution of the foreign operation.
Assets Held For Sale	(r) Assets Held For Sale Non-current assets, or disposal groups, are classified as held-for sale if it is highly probable that their carrying amount will be recovered primarily through a sale transaction rather than through continued use. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. Impairment losses on initial classification as held-for-sale and subsequent gains or losses on remeasurement are recognized in profit or loss.
Critical Accounting Assumptions and Estimates	(s) 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 of 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.
Accounting Standards Adopted January 1, 2018	(t) Accounting Standards Adopted January 1, 2018 The following standards were adopted by the Corporation on January 1, 2018 using the cumulative-effect method of adoption. The adoption of these standards had no material impact on the amounts recorded in these financial statements. i) IFRS 9, Financial Instruments Effective January 1, 2018, IFRS 9 replaced 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. Under the new standard, Precision’s accounts receivable, accounts payable and accrued liabilities and long-term debt have been classified and measured at amortized cost. The following table shows the original measurement categories and carrying amounts for each financial asset and liability under IAS 39 and the subsequent measurement and carrying amount upon adoption of IFRS 9 as at January 1, 2018. Measurement Category Carrying Amount (Stated in thousands of Canadian dollars) IAS 39 IFRS 9 IAS 39 IFRS 9 Financial Assets Cash and cash equivalents Loans and receivables Amortized cost $ 65,081 $ 65,081 Accounts receivable Loans and receivables Amortized cost 322,585 322,585 $ 387,666 $ 387,666 Financial Liabilities Accounts payable and accrued liabilities Other financial liabilities Amortized cost $ 209,625 $ 209,625 Long-term debt Other financial liabilities Amortized cost 1,730,437 1,730,437 $ 1,940,062 $ 1,940,062 IFRS 9 replaced 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. Due to low historical default rates, there was no material adjustment to the credit loss allowance. ii) IFRS 15, Revenue from Contracts with Customers IFRS 15 established 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 replaced 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 performance obligations. During its initial application of IFRS 15, the Corporation did not apply any of the available practical expedients. The application of IFRS 15 did not result in a material impact to the Corporation’s consolidated financial statements. For additional information about the Corporation’s accounting policies with respect to revenue recognition, see Note 3(j).
Accounting Standards, Interpretations and Amendments to Existing Standards not yet Effective	(u) Accounting Standards, Interpretations and Amendments to Existing Standards not yet Effective i) IFRS 16, Leases On January 1, 2019, Precision will adopt IFRS 16 - Leases. This standard introduces a single, on-balance sheet lease accounting model for lessees and requires a lessee to recognize a right-of-use asset representing its right to direct the use of the underlying asset as well as a lease liability representing its obligation to make future lease payments. IFRS 16 will also cause expenses to be higher at the beginning and lower towards the end of a lease, even when payments are consistent throughout the term. The standard includes recognition exemptions for short-term leases and leases of low-value items. Lessor accounting remains similar to the current standard in which lessors continue to classify leases as either finance or operating leases. IFRS 16 will replace existing lease guidance, including IAS 17 Leases, IFRIC 4 Determining whether an Arrangement contains a Lease, SIC-15 Operating Leases – Incentives and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. Precision has completed its review of the existing contracts that are currently classified as leases under the existing standard, or that could be classified as leases under IFRS 16, in order to identify the contracts that will be impacted by the new standard from the perspective of both a lessor and a lessee. Management has also estimated the impact that the initial application of IFRS 16 will have on its consolidated financial statements, as described below. The actual impact of adopting the standard on January 1, 2019 may differ from what is described below as Precision’s accounting policies, including the election to apply certain practical expedients, are subject to change until presented in its first published financial statements after the date of initial application. Leases in which Precision is a lessee Precision will recognize right-of-use assets and lease liabilities for its real estate, vehicle, office equipment and other contracts that are currently classified as operating leases. The nature of expenses related to those leases will change as Precision will depreciate the right-of-use assets and recognize interest expense on its lease liabilities. Under the existing standard, Precision recognizes operating lease expenses on a straight-line basis over the term of the lease in either operating or general and administrative expense and recognizes assets and liabilities only to the extent there was a timing difference between the payment date and the recognition of the expense. Based on the information currently available, Precision estimates that it will recognize lease liabilities and corresponding right-of-use assets of approximately $60 million - $70 million on January 1, 2019 related to contracts where it is the lessee. Precision does not expect a material adjustment to the opening balance of retained earnings on January 1, 2019 upon the initial application of IFRS 16. The actual impact of adopting the standard on January 1, 2019 may differ from these estimates as the Corporation continues to review its calculations and may refine certain inputs therein, such as the discount rate and lease term. Leases in which Precision is a lessor Precision evaluated its drilling rigs under term contracts longer than one year and determined that these meet the definition of a lease under IFRS 16. Precision expects to classify these as operating leases, and accordingly, will recognize lease income over the term of the respective drilling contract. This is not expected to give rise to differences in the recognition or measurement of revenues from these contracts as compared to Precision’s existing accounting policies. Precision reassessed the classification of its real estate sub-leases in which it is a lessor. These are classified as an operating lease under the existing lease standard and management does not expect to reclassify these as finance leases. Transition There are two methods by which the new standard may 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 opening retained earnings as of the date of adoption, with no restatement of comparative information. Precision will apply IFRS 16 initially on January 1, 2019, using the modified retrospective approach. When applying a modified retrospective approach to leases previously classified as operating leases under IAS 17, the lessee can elect, on a lease-by-lease basis, whether to apply a number of practical expedients on transition. On initial adoption of the new standard, the Corporation intends to use the following practical expedients, where applicable: • not applying the requirements of the standard to short-term leases • treat existing operating leases with a remaining term of less than 12 months at January 1, 2019 as short-term leases • not applying the requirements of the standard to low-value leases • apply ii) 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 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 January 1, 2019. 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. Precision has reviewed its initial application of IFRIC 23 and determined it will not have a material impact on the consolidated financial statements. The actual impact of adopting the standard on January 1, 2019 may differ as Precision’s accounting policies are subject to change until presented in its first published financial statements after the date of initial application.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
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 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 up 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
Schedule of Original Measurement Categories and Carrying Amounts for Each Financial Asset and Liability	The following table shows the original measurement categories and carrying amounts for each financial asset and liability under IAS 39 and the subsequent measurement and carrying amount upon adoption of IFRS 9 as at January 1, 2018. Measurement Category Carrying Amount (Stated in thousands of Canadian dollars) IAS 39 IFRS 9 IAS 39 IFRS 9 Financial Assets Cash and cash equivalents Loans and receivables Amortized cost $ 65,081 $ 65,081 Accounts receivable Loans and receivables Amortized cost 322,585 322,585 $ 387,666 $ 387,666 Financial Liabilities Accounts payable and accrued liabilities Other financial liabilities Amortized cost $ 209,625 $ 209,625 Long-term debt Other financial liabilities Amortized cost 1,730,437 1,730,437 $ 1,940,062 $ 1,940,062

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Revenue Explanatory [Abstract]
Summary of Reconciliation of Disaggregated Revenue by Reportable Segment	The following table includes a reconciliation of disaggregated revenue by reportable segment (Note 5). Revenue has been disaggregated by primary geographical market and type of service provided. Twelve months ended December 31, 2018 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Canada $ 426,475 $ 138,030 $ — $ (5,759 ) $ 558,746 United States 778,886 12,730 — (304 ) 791,312 International 191,131 — — — 191,131 $ 1,396,492 $ 150,760 $ — $ (6,063 ) $ 1,541,189 Day rate/hourly services $ 1,302,575 $ 150,760 $ — $ (1,009 ) $ 1,452,326 Shortfall payments/idle but contracted 12,520 — — — 12,520 Turnkey drilling services 37,811 — — — 37,811 Directional services 31,943 — — — 31,943 Other 11,643 — — (5,054 ) 6,589 $ 1,396,492 $ 150,760 $ — $ (6,063 ) $ 1,541,189 Twelve months ended December 31, 2017 (1) Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Canada $ 429,119 $ 139,113 $ — $ (5,982 ) $ 562,250 United States 554,410 15,033 — (870 ) 568,573 International 190,401 — — — 190,401 $ 1,173,930 $ 154,146 $ — $ (6,852 ) $ 1,321,224 Day rate/hourly services $ 1,076,018 $ 154,146 $ — $ (1,614 ) $ 1,228,550 Shortfall payments/idle but contracted 39,468 — — — 39,468 Turnkey drilling services 12,306 — — — 12,306 Directional services 34,481 — — — 34,481 Other 11,657 — — (5,238 ) 6,419 $ 1,173,930 $ 154,146 $ — $ (6,852 ) $ 1,321,224 (1) IFRS 15 initially applied at January 1, 2018; under the transition method chosen, comparative information is not restated.

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Dec. 31, 2018
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. 2018 Contract Drilling Services Completion and Production Services Corporate and Other Inter- Segment Eliminations Total Revenue $ 1,396,492 $ 150,760 $ — $ (6,063 ) $ 1,541,189 Operating loss (129,965 ) (8,998 ) (59,110 ) — (198,073 ) Depreciation and amortization 334,555 23,879 7,226 — 365,660 Impairment of goodwill 207,544 — — — 207,544 Total assets 3,301,457 170,113 164,473 — 3,636,043 Goodwill — — — — — Capital expenditures 108,610 5,004 12,529 — 126,143 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
Summary of Operating Loss to Loss Before Income Taxes	A reconciliation of operating loss to loss before income taxes is as follows: 2018 2017 Total segment operating loss $ (198,073 ) $ (88,078 ) Add (deduct): Foreign exchange 4,017 (2,970 ) Finance charges 127,178 137,928 Loss (gain) on redemption and repurchase of unsecured senior notes (5,672 ) 9,021 Loss before income taxes $ (323,596 ) $ (232,057 )
Summary of Operating Segments by Geographic Locations	The Corporation’s operations are carried on in the following geographic locations: 2018 Canada United States International Eliminations Total Revenue $ 571,640 $ 797,217 $ 191,131 $ (18,799 ) $ 1,541,189 Total assets 1,269,542 1,772,850 593,651 — 3,636,043 2017 Canada United States International 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

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Property Plant And Equipment [Abstract]
Schedule of Property, Plant and Equipment	2018 2017 Cost $ 6,937,062 $ 6,733,634 Accumulated depreciation (3,898,450 ) (3,559,810 ) $ 3,038,612 $ 3,173,824 Rig equipment 2,745,172 2,823,782 Rental equipment 43,992 60,179 Other equipment 52,195 66,560 Vehicles 12,702 16,280 Buildings 65,561 71,102 Assets under construction 84,561 102,035 Land 34,429 33,886 $ 3,038,612 $ 3,173,824 Cost Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total 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 Additions 7,013 — 347 — 569 106,647 — 114,576 Disposals (32,153 ) (18,227 ) (59,865 ) (228 ) (3,663 ) — (893 ) (115,029 ) Reclassifications 127,668 — 507 — — (128,175 ) — — Reclassification to assets held for sale (135,398 ) — — — — — — (135,398 ) Effect of foreign currency exchange differences 321,240 679 5,351 2,483 4,036 4,054 1,436 339,279 Balance, December 31, 2018 $ 6,322,536 $ 130,463 $ 191,290 $ 45,456 $ 128,327 $ 84,561 $ 34,429 $ 6,937,062 Accumulated Depreciation Rig Equipment Rental Equipment Other Equipment Vehicles Buildings Assets Under Construction Land Total 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 Depreciation expense 335,215 9,418 15,993 4,820 8,126 — — 373,572 Disposals (28,399 ) (11,249 ) (59,857 ) (220 ) (3,161 ) — — (102,886 ) Reclassification to assets held for sale (115,740 ) — — — — — — (115,740 ) Effect of foreign currency exchange differences 175,904 470 4,569 1,233 1,518 — — 183,694 Balance, December 31, 2018 $ 3,577,364 $ 86,471 $ 139,095 $ 32,754 $ 62,766 $ — $ — $ 3,898,450

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Intangible Assets [Abstract]
Schedule of Intangibles	2018 2017 Cost $ 51,912 $ 39,707 Accumulated amortization (16,511 ) (11,591 ) $ 35,401 $ 28,116 Loan commitment fees related to Senior Credit Facility $ 2,307 $ 3,120 Software 33,094 24,996 $ 35,401 $ 28,116 Cost Loan Commitment Fees Software Total 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 Additions 638 11,567 12,205 Balance, December 31, 2018 $ 14,776 $ 37,136 $ 51,912 Accumulated Amortization Loan Commitment Fees Software Total Balance, December 31, 2016 $ 9,029 $ — $ 9,029 Amortization expense 1,989 573 2,562 Balance, December 31, 2017 11,018 573 11,591 Amortization expense 1,451 3,469 4,920 Balance, December 31, 2018 $ 12,469 $ 4,042 $ 16,511

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Goodwill [Abstract]
Summary of Goodwill	Balance, December 31, 2016 $ 207,399 Exchange adjustment (2,232 ) Balance, December 31, 2017 205,167 Exchange adjustment 2,377 Impairment charge (207,544 ) Balance, December 31, 2018 $ —

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Long Term Debt [Abstract]
Long-Term Debt	LONG-TERM DEBT 2018 2017 2018 2017 Senior Credit Facility US $ — US $ — $ — $ — Unsecured senior notes: 6.5% senior notes due 2021 165,625 248,625 226,113 312,601 7.75% senior notes due 2023 350,000 350,000 477,823 440,062 5.25% senior notes due 2024 351,104 400,000 479,331 502,928 7.125% senior notes due 2026 400,000 400,000 546,084 502,928 US $ 1,266,729 US $ 1,398,625 1,729,351 1,758,519 Less net unamortized debt issue costs (23,098 ) (28,082 ) $ 1,706,253 $ 1,730,437 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 ) Non-cash changes: 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 Changes from financing cash flows: Redemption of senior notes — (168,722 ) — (168,722 ) Non-cash changes: Gain on redemption of unsecured senior notes — (5,672 ) — (5,672 ) Amortization of debt issue costs — — 4,984 4,984 Foreign exchange adjustment — 145,226 — 145,226 Balance December 31, 2018 $ — $ 1,729,351 $ (23,098 ) $ 1,706,253
Long-Term Debt Obligations	Long-term debt obligations at December 31, 2018 will mature as follows: 2021 $ 226,113 2023 477,823 Thereafter 1,025,415 $ 1,729,351

Finance Charges (Tables)

Finance Charges (Tables)	12 Months Ended
	Dec. 31, 2018
Finance Costs [Abstract]
Summary of Finance Charges	2018 2017 Interest: Long-term debt $ 121,810 $ 128,381 Other 378 1,083 Income (1,444 ) (1,858 ) Amortization of debt issue costs 6,434 10,162 Other — 160 Finance charges $ 127,178 $ 137,928

Share Based Compensation Plans

Share Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
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, 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 Expensed during the period 5,223 398 — 769 6,390 Payments (6,764 ) (7,284 ) — (1,800 ) (15,848 ) Balance, December 31, 2018 $ 5,409 $ 4,521 $ — $ 2,481 $ 12,411 Current $ 3,112 $ 2,779 $ — $ — $ 5,891 Long-term 2,297 1,742 — 2,481 6,520 $ 5,409 $ 4,521 $ — $ 2,481 $ 12,411
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, 2016 3,129,039 6,493,798 Granted 1,343,669 828,400 Redeemed (1,404,271 ) (1,325,692 ) Forfeited (271,579 ) (270,247 ) December 31, 2017 2,796,858 5,726,259 Granted 2,918,912 1,292,550 Redeemed (1,404,284 ) (2,137,163 ) Forfeited (255,572 ) (338,656 ) December 31, 2018 4,055,914 4,542,990
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, 2016 6,188,672 $ 4.46 – 14.50 $ 8.70 4,369,155 Granted 377,100 7.30 – 7.30 7.30 Forfeited (1,665,412 ) 7.32 – 14.50 8.98 December 31, 2017 4,900,360 4.46 – 14.50 8.50 3,734,019 Granted 490,200 4.35 – 4.35 4.35 Forfeited (657,404 ) 10.44 – 14.50 10.58 December 31, 2018 4,733,156 $ 4.35 – 14.31 $ 7.78 3,786,473 U.S. Share Options Options Outstanding Range of Exercise Prices (US$) Weighted Average Exercise Price (US$) Options Exercisable 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 Forfeited (944,349 ) 5.79 – 10.96 8.42 December 31, 2017 5,558,621 3.21 – 15.21 6.16 2,891,808 Granted 1,569,250 3.44 – 3.62 3.45 Exercised (66,000 ) 3.21 – 3.21 3.21 Forfeited (996,021 ) 3.21 – 15.21 8.08 December 31, 2018 6,065,850 $ 3.21 – 10.74 $ 5.17 3,224,078
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 $ 4.34 – 6.99 1,105,400 $ 4.41 5.04 410,122 $ 4.46 7.00 – 8.99 1,539,001 7.32 3.58 1,287,596 7.33 9.00 – 14.31 2,088,755 9.90 1.12 2,088,755 9.90 $ 4.34 – 14.31 4,733,156 $ 7.78 2.83 3,786,473 $ 8.43 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 – 3.99 3,046,950 $ 3.33 5.18 995,888 $ 3.21 4.00 – 6.99 1,924,500 5.61 4.37 1,133,790 5.66 7.00 – 10.74 1,094,400 9.52 1.19 1,094,400 9.52 $ 3.21 – 10.74 6,065,850 $ 5.17 4.20 3,224,078 $ 6.22
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, 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 Forfeited (136,169 ) 15.22 – 15.22 — December 31, 2018 — $ — $ — —
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, 2016 621,821 Granted 331,456 Balance December 31, 2017 953,277 Granted 474,766 Redeemed (374,408 ) Balance December 31, 2018 1,053,635
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 Redeemed (102,570 ) December 31, 2018 93,173
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 Granted 2,082,800 6.22 Forfeited (50,733 ) 6.12 December 31, 2018 3,191,067 $ 6.14

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
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: 2018 2017 Loss before income taxes $ (323,596 ) $ (232,057 ) Federal and provincial statutory rates 27 % 27 % Tax at statutory rates $ (87,371 ) $ (62,655 ) Adjusted for the effect of: Non-deductible expenses 49,455 2,672 Non-taxable capital gains (845 ) (175 ) Income taxed at lower rates — (42,334 ) Impact of foreign tax rates 4,861 (2,814 ) Withholding taxes 1,061 1,165 Taxes related to prior years 3,803 (618 ) Other (290 ) 4,738 Income tax recovery $ (29,326 ) $ (100,021 )
Summary of Net Deferred Tax Liability	The net deferred tax liability is comprised of the tax effect of the following temporary differences: 2018 2017 Deferred income tax liability: Property, plant and equipment and intangibles $ 467,109 $ 454,613 Debt issue costs 3,534 3,352 Partnership deferrals 1,730 — Other 5,722 6,709 478,095 464,674 Offsetting of assets and liabilities (405,316 ) (345,763 ) 72,779 118,911 Deferred income tax assets: Losses (expire from time to time up to 2037) 423,595 368,133 Partnership deferrals — 335 Long-term incentive plan 6,849 7,935 Other 11,752 11,182 442,196 387,585 Offsetting of assets and liabilities (405,316 ) (345,763 ) 36,880 41,822 Net deferred income tax liability $ 35,899 $ 77,089
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, 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 Recognized in net loss (9,667 ) 2,065 (1,005 ) (30,660 ) 182 1,325 (139 ) (37,899 ) Effect of foreign currency exchange differences 22,163 — 18 (24,802 ) — (239 ) (431 ) (3,291 ) Balance, December 31, 2018 $ 467,109 $ 1,730 $ 5,722 $ (423,595 ) $ 3,534 $ (6,849 ) $ (11,752 ) $ 35,899
Summary of Reconciliation of Unrecognized Tax Benefits	Reconciliation of Uncertain Tax Positions 2018 2017 Unrecognized tax benefits, beginning of year $ 1,980 $ 1,923 Additions: Prior year’s tax positions 60 57 Reductions: Prior year’s tax positions — — Unrecognized tax benefits, end of year $ 2,040 $ 1,980

Provisions and Other (Tables)

Provisions and Other (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Other Provisions [Abstract]
Disclosure of Provisions and Other	Workers’ Compensation 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 Expensed during the year 3,359 Payment of deductibles and uninsured claims (4,271 ) Effects of foreign currency exchange differences 1,053 Balance December 31, 2018 $ 13,373 2018 2017 Current $ 2,796 $ 3,146 Long-term 10,577 10,086 $ 13,373 $ 13,232

Shareholders' Capital (Tables)

Shareholders' Capital (Tables)	12 Months Ended
	Dec. 31, 2018
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 Issued on redemption of non-management directors' DSUs 476,978 $ 2,609 Options exercised – cash consideration 66,000 275 – reclassification from contributed surplus — 103 Balance, December 31, 2018 293,781,836 $ 2,322,280

Per Share Amounts (Tables)

Per Share Amounts (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Per Share Amounts	The following tables reconcile the net loss and weighted average shares outstanding used in computing basic and diluted loss per share: 2018 2017 Net loss – basic and diluted $ (294,270 ) $ (132,036 ) (Stated in thousands) 2018 2017 Weighted average shares outstanding – basic 293,560 293,239 Effect of stock options and other equity compensation plans — — Weighted average shares outstanding – diluted 293,560 293,239

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2018
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, 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 Other comprehensive income 175,630 (145,226 ) 30,404 December 31, 2018 $ 616,363 $ (454,349 ) $ 162,014

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Compensation of Key Management Personnel	The remuneration of key management personnel is as follows: 2018 2017 Salaries and other benefits $ 6,732 $ 6,078 Equity settled share based compensation 5,562 3,036 Cash settled share based compensation 722 (3,945 ) $ 13,016 $ 5,169

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments [Abstract]
Expected Non-cancellable Operating Lease Payments	Expected non-cancellable operating lease payments are as follows: 2018 2017 Less than one year $ 13,496 $ 12,248 Between one and five years 36,639 27,445 Later than five years 17,797 21,909 $ 67,932 $ 61,602
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: 2018 2017 Operating leases $ 17,187 $ 16,311 Sub-lease recoveries (540 ) (441 ) $ 16,647 $ 15,870

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Financial Instruments [Abstract]
Summary of Expected Credit Loss Allowance	The movement in the expected credit loss allowance during the year was as follows: 2018 2017 Balance at January 1 $ 2,596 $ 6,072 Impairment loss recognized 483 56 Amounts written-off as uncollectible (416 ) (3,296 ) Impairment loss reversed (1,247 ) (30 ) Effect of movement in exchange rates 54 (206 ) Balance at December 31 $ 1,470 $ 2,596
Summary of Ageing of Trade Receivables	The ageing of trade receivables at December 31 was as follows: 2018 2017 Gross Provision for Impairment Gross Provision for Impairment Not past due $ 175,277 $ — $ 92,880 $ — Past due 0 – 30 days 64,351 — 66,723 — Past due 31 – 120 days 25,032 71 19,410 580 Past due more than 120 days 1,399 1,399 2,016 2,016 $ 266,059 $ 1,470 $ 181,029 $ 2,596
Summary of Financial Instruments were Denominated in U S Dollars	The following financial instruments were denominated in U.S. dollars: 2018 2017 Canadian Operations (1) Foreign Operations Canadian Operations (1) Foreign. Operations Cash $ 957 $ 49,302 $ 1,720 $ 39,636 Accounts receivable 482 181,609 — 152,216 Accounts payable and accrued liabilities (20,655 ) (122,417 ) (13,221 ) (98,008 ) Long-term liabilities, excluding long-term incentive plans — (7,747 ) — (8,023 ) Net foreign currency exposure $ (19,216 ) $ 100,747 $ (11,501 ) $ 85,821 Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on net loss $ (192 ) $ — $ (115 ) $ — Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on comprehensive loss $ — $ 1,007 $ — $ 858 (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, 2018: 2019 2020 2021 2022 2023 Thereafter Total Accounts payable and accrued liabilities $ 274,489 $ — $ — $ — $ — $ — $ 274,489 Share based compensation 6,221 4,357 6,082 — — — 16,660 Long-term debt — — 226,113 — 477,823 1,025,415 1,729,351 Interest on long-term debt (1) 115,802 115,802 115,190 101,105 99,562 101,457 648,918 Commitments 101,542 84,404 27,811 8,604 7,617 17,797 247,775 Total $ 498,054 $ 204,563 $ 375,196 $ 109,709 $ 585,002 $ 1,144,669 $ 2,917,193 (1) Interest has been calculated based on debt balances, interest rates, and foreign exchange rates in effect as at December 31, 2018 and excludes amortization of long-term debt issue costs.

Capital Management (Tables)

Capital Management (Tables)	12 Months Ended
	Dec. 31, 2018
Capital Management [Abstract]
Summary of Capitalisation and Ratio	As at December 31, 2018 and 2017, these ratios were as follows: 2018 2017 Long-term debt $ 1,706,253 $ 1,730,437 Shareholders’ equity 1,557,752 1,810,336 Total capitalization $ 3,264,005 $ 3,540,773 Long-term debt to long-term debt plus equity ratio 0.52 0.49

Supplemental Information (Table

Supplemental Information (Tables)	12 Months Ended
	Dec. 31, 2018
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: 2018 2017 Accounts receivable $ (32,709 ) $ (41,309 ) Inventory (7,504 ) (3,902 ) Accounts payable and accrued liabilities 23,225 (30,158 ) $ (16,988 ) $ (75,369 ) Pertaining to: Operations $ (17,880 ) $ (67,380 ) Investments $ 892 $ (7,989 )
Components of Accounts Receivable	The components of accounts receivable are as follows: 2018 2017 Trade $ 264,589 $ 178,433 Accrued trade 47,426 91,708 Prepaids and other 60,321 52,444 $ 372,336 $ 322,585
Components of Accounts Payable and Accrued Liabilities	The components of accounts payable and accrued liabilities are as follows: 2018 2017 Accounts payable $ 129,493 $ 87,436 Accrued liabilities: Payroll 73,682 58,550 Other 71,314 63,639 $ 274,489 $ 209,625
Summary of Operating and General and Administrative Expenses	The following table presents operating and general and administrative expenses by nature: 2018 2017 Wages, salaries and benefits $ 728,101 $ 580,482 Purchased materials, supplies and services 422,359 433,827 Share based compensation 15,598 1,934 $ 1,166,058 $ 1,016,243 Allocated to: Operating expense $ 1,067,871 $ 926,171 General and administrative 112,387 90,072 Other recoveries (14,200 ) — $ 1,166,058 $ 1,016,243

Long-Term Debt Guarantor Disc_2

Long-Term Debt Guarantor Disclosure (Tables)	12 Months Ended
	Dec. 31, 2018
Long Term Debt Guarantor Disclosure [Abstract]
Condensed Consolidating Statement of Financial Position	Condensed Consolidating Statement of Financial Position as at December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Cash $ 28,626 $ 37,138 $ 30,862 $ — $ 96,626 Other current assets 4,798 308,450 93,166 3 406,417 Intercompany receivables 51,616 1,887,405 80,735 (2,019,756 ) — Investments in subsidiaries 4,522,964 68 — (4,523,032 ) — Assets held for sale — 19,658 — — 19,658 Property, plant and equipment 55,430 2,541,060 441,509 613 3,038,612 Intangibles 33,548 1,853 — — 35,401 Goodwill — — — — — Other long-term assets — 46,620 5,479 (12,770 ) 39,329 Total assets $ 4,696,982 $ 4,842,252 $ 651,751 $ (6,554,942 ) $ 3,636,043 Liabilities and shareholders’ equity Current liabilities $ 42,211 $ 190,239 $ 49,712 $ — $ 282,162 Intercompany payables and debt 1,918,306 60,101 41,349 (2,019,756 ) — Long-term debt 1,706,253 — — — 1,706,253 Other long-term liabilities 88,983 13,160 503 (12,770 ) 89,876 Total liabilities 3,755,753 263,500 91,564 (2,032,526 ) 2,078,291 Shareholders’ equity 941,229 4,578,752 560,187 (4,522,416 ) 1,557,752 Total liabilities and shareholders’ equity $ 4,696,982 $ 4,842,252 $ 651,751 $ (6,554,942 ) $ 3,636,043 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 Earnings (Loss)	Condensed Consolidating Statement of Loss for the Year ended December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenue $ 104 $ 1,356,913 $ 191,131 $ (6,959 ) $ 1,541,189 Operating expense 83 950,058 124,689 (6,959 ) 1,067,871 General and administrative expense 52,638 49,305 10,444 — 112,387 Other recoveries (14,200 ) — — — (14,200 ) Earnings (loss) before income taxes, equity in loss of subsidiaries, gain on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of goodwill and depreciation and amortization (38,417 ) 357,550 55,998 — 375,131 Depreciation and amortization 6,882 298,019 60,542 217 365,660 Impairment of goodwill — 207,544 — — 207,544 Foreign exchange 4,819 (443 ) (359 ) — 4,017 Finance charges 126,758 (233 ) 653 — 127,178 Gain on redemption and repurchase of unsecured senior notes (5,672 ) — — — (5,672 ) Equity in loss of subsidiaries 168,975 — — (168,975 ) — Loss before income taxes (340,179 ) (147,337 ) (4,838 ) 168,758 (323,596 ) Income taxes (46,125 ) 13,863 2,936 — (29,326 ) Net loss $ (294,054 ) $ (161,200 ) $ (7,774 ) $ 168,758 $ (294,270 ) Condensed Consolidating Statement of Earnings (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, equity in loss of subsidiaries, 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 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 income taxes (181,062 ) (33,430 ) (4,962 ) (12,603 ) (232,057 ) Income taxes (47,567 ) (59,120 ) 6,666 — (100,021 ) Net income (loss) $ (133,495 ) $ 25,690 $ (11,628 ) $ (12,603 ) $ (132,036 )
Condensed Consolidating Statement of Comprehensive Income (Loss)	Condensed Consolidating Statement of Comprehensive Income (Loss) for the Year ended December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net loss (294,054 ) (161,200 ) (7,774 ) 168,758 $ (294,270 ) Other comprehensive income (loss) (145,226 ) 129,804 45,190 636 30,404 Comprehensive Income (loss) $ (439,280 ) $ (31,396 ) $ 37,416 $ 169,394 $ (263,866 ) Condensed Consolidating Statement of Comprehensive Loss for the Year ended December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (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 Cash Flow	Condensed Consolidating Statement of Cash Flow for the Year ended December 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Cash provided by (used in): Operations $ (102,901 ) $ 351,782 $ 44,453 $ — $ 293,334 Investments 277,501 (75,740 ) (16,253 ) (286,302 ) (100,794 ) Financing (169,085 ) (247,017 ) (39,285 ) 286,302 (169,085 ) Effects of exchange rate changes on cash and cash equivalents 2,268 2,691 3,131 — 8,090 Increase (decrease) in cash and cash equivalents 7,783 31,716 (7,954 ) — 31,545 Cash and cash equivalents, beginning of year 20,843 5,422 38,816 — 65,081 Cash and cash equivalents, end of year $ 28,626 $ 37,138 $ 30,862 $ — $ 96,626 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

Subsidiaries (Tables)

Subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Significant Investments In Subsidiaries [Abstract]
Summary of Subsidiaries	Ownership Interest Country of Incorporation 2018 2017 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 Polici_4

Significant Accounting Policies - Additional Information (Details) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Jan. 01, 2019
Disclosure Of Significant Accounting Policies [Line Items]
Cash and cash equivalents orginal maturity	three months or less
Events After Reporting Period [Member]
Disclosure Of Significant Accounting Policies [Line Items]
Lease liabilities		$ 60
Right-of-use assets		$ 70
Top of Range [Member] | Software [Member]
Disclosure Of Significant Accounting Policies [Line Items]
Expected useful life of intangible asset	10 years

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, 2018
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
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]
Disclosure of detailed information about property, plant and equipment [Line Items]
Expected Life	up to 15 years
Rental Equipment [Member] | Top of Range [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
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

Schedule of Original Measuremen

Schedule of Original Measurement Categories and Carrying Amounts for Each Financial Asset and Liability (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2016
Financial Assets
Cash and cash equivalents, Carrying Amount	$ 65,081	$ 96,626	$ 115,705
Accounts receivable, Carrying Amount	322,585	372,336
Financial Liabilities
Accounts payable and accrued liabilities, Carrying Amount	209,625	274,489
Long-term debt, Carrying Amount	1,730,437	$ 1,706,253
IFRS 9 [Member]
Financial Assets
Cash and cash equivalents, Carrying Amount	65,081
Accounts receivable, Carrying Amount	322,585
Financial assets, Carrying Amount	387,666
Financial Liabilities
Accounts payable and accrued liabilities, Carrying Amount	209,625
Long-term debt, Carrying Amount	1,730,437
Financial Liabilities, Carrying Amount	$ 1,940,062
Cash and cash equivalents, measurement category	Amortized cost
Accounts receivable, measurement category	Amortized cost
Accounts payable and accrued liabilities, measurement category	Amortized cost
Long-term debt, measurement category	Amortized cost
IAS 39 [Member]
Financial Assets
Cash and cash equivalents, Carrying Amount	$ 65,081
Accounts receivable, Carrying Amount	322,585
Financial assets, Carrying Amount	387,666
Financial Liabilities
Accounts payable and accrued liabilities, Carrying Amount	209,625
Long-term debt, Carrying Amount	1,730,437
Financial Liabilities, Carrying Amount	$ 1,940,062
Cash and cash equivalents, measurement category	Loans and receivables
Accounts receivable, measurement category	Loans and receivables
Accounts payable and accrued liabilities, measurement category	Other financial liabilities
Long-term debt, measurement category	Other financial liabilities

Summary of Reconciliation of Di

Summary of Reconciliation of Disaggregated Revenue by Primary Geographical Market (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	$ 1,541,189	$ 1,321,224
Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	1,396,492	1,173,930
Completion and Production Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	150,760	154,146
Inter- Segment Eliminations [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	(6,063)	(6,852)
Canada [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	558,746	562,250
Canada [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	426,475	429,119
Canada [Member] | Completion and Production Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	138,030	139,113
Canada [Member] | Inter- Segment Eliminations [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	(5,759)	(5,982)
United States [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	791,312	568,573
United States [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	778,886	554,410
United States [Member] | Completion and Production Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	12,730	15,033
United States [Member] | Inter- Segment Eliminations [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	(304)	(870)
International [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	191,131	190,401
International [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	$ 191,131	$ 190,401

Summary of Reconciliation of _2

Summary of Reconciliation of Disaggregated Revenue by Type of Service Provided (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	$ 1,541,189	$ 1,321,224
Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	1,396,492	1,173,930
Completion and Production Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	150,760	154,146
Inter- Segment Eliminations [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	(6,063)	(6,852)
Day Rate Or Hourly Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	1,452,326	1,228,550
Day Rate Or Hourly Services [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	1,302,575	1,076,018
Day Rate Or Hourly Services [Member] | Completion and Production Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	150,760	154,146
Day Rate Or Hourly Services [Member] | Inter- Segment Eliminations [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	(1,009)	(1,614)
Shortfall Payments Or Idle But Contracted [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	12,520	39,468
Shortfall Payments Or Idle But Contracted [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	12,520	39,468
Turnkey Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	37,811	12,306
Turnkey Drilling Services [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	37,811	12,306
Directional Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	31,943	34,481
Directional Services [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	31,943	34,481
Other [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	6,589	6,419
Other [Member] | Contract Drilling Services [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	11,643	11,657
Other [Member] | Inter- Segment Eliminations [Member]
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	$ (5,054)	$ (5,238)

Segmented Information - Additio

Segmented Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018Segment
Disclosure Of Operating Segments [Abstract]
Number of operating segments	2

Summary of Operating Segments (

Summary of Operating Segments (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of operating segments [Line Items]
Revenue	$ 1,541,189	$ 1,321,224
Operating loss	(323,596)	(232,057)
Depreciation and amortization	365,660	377,746
Impairment of goodwill	207,544
Impairment of property, plant and equipment		15,313
Total assets	3,636,043	3,892,931
Goodwill		205,167	$ 207,399
All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	1,541,189	1,321,224
Operating loss	(198,073)	(88,078)
Depreciation and amortization	365,660	377,746
Impairment of goodwill	207,544
Impairment of property, plant and equipment		15,313
Total assets	3,636,043	3,892,931
Goodwill		205,167
Capital expenditures	126,143	98,002
Contract Drilling Services [Member]
Disclosure of operating segments [Line Items]
Revenue	1,396,492	1,173,930
Contract Drilling Services [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	1,396,492	1,173,930
Operating loss	(129,965)	(6,930)
Depreciation and amortization	334,555	334,587
Impairment of goodwill	207,544
Impairment of property, plant and equipment		15,313
Total assets	3,301,457	3,491,393
Goodwill		205,167
Capital expenditures	108,610	69,076
Completion and Production Services [Member]
Disclosure of operating segments [Line Items]
Revenue	150,760	154,146
Completion and Production Services [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	150,760	154,146
Operating loss	(8,998)	(17,750)
Depreciation and amortization	23,879	29,638
Total assets	170,113	209,353
Capital expenditures	5,004	4,509
Corporate and Other [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Operating loss	(59,110)	(63,398)
Depreciation and amortization	7,226	13,521
Total assets	164,473	192,185
Capital expenditures	12,529	24,417
Inter- Segment Eliminations [Member]
Disclosure of operating segments [Line Items]
Revenue	(6,063)	(6,852)
Inter- Segment Eliminations [Member] | All Other Segments [Member]
Disclosure of operating segments [Line Items]
Revenue	$ (6,063)	$ (6,852)

Summary of Operating Loss to Lo

Summary of Operating Loss to Loss Before Income Taxes (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Operating Segments [Abstract]
Total segment operating loss	$ (198,073)	$ (88,078)
Foreign exchange	4,017	(2,970)
Finance charges	127,178	137,928
Loss (gain) on redemption and repurchase of unsecured senior notes	(5,672)	9,021
Loss before income taxes	$ (323,596)	$ (232,057)

Summary of Operating Segments b

Summary of Operating Segments by Geographic Locations (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of geographical areas [Line Items]
Revenue	$ 1,541,189	$ 1,321,224
Total assets	3,636,043	3,892,931
Eliminations [Member]
Disclosure of geographical areas [Line Items]
Revenue	(18,799)	(16,567)
Canada [Member]
Disclosure of geographical areas [Line Items]
Revenue	558,746	562,250
Total assets	1,269,542	1,631,838
Canada [Member] | Before Eliminations [Member]
Disclosure of geographical areas [Line Items]
Revenue	571,640	578,817
United States [Member]
Disclosure of geographical areas [Line Items]
Revenue	791,312	568,573
Total assets	1,772,850	1,666,368
United States [Member] | Before Eliminations [Member]
Disclosure of geographical areas [Line Items]
Revenue	797,217	568,573
International [Member]
Disclosure of geographical areas [Line Items]
Revenue	191,131	190,401
Total assets	$ 593,651	$ 594,725

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Detail) $ in Millions	Dec. 31, 2018CAD ($)
Noncurrent Assets Or Disposal Groups Classified As Held For Sale Or As Held For Distribution To Owners [Abstract]
Carrying value of disposal group	$ 19.7

Schedule of Property, Plant and

Schedule of Property, Plant and Equipment (Detail) - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	$ 3,038,612	$ 3,173,824
Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	2,745,172	2,823,782
Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	43,992	60,179
Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	52,195	66,560
Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	12,702	16,280
Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	65,561	71,102
Assets Under Construction [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	84,561	102,035
Land [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	34,429	33,886
Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	6,937,062	6,733,634	$ 7,011,178
Gross [Member] | Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	6,322,536	6,034,166	6,266,991
Gross [Member] | Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	130,463	148,011	159,144
Gross [Member] | Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	191,290	244,950	247,073
Gross [Member] | Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	45,456	43,201	45,147
Gross [Member] | Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	128,327	127,385	131,361
Gross [Member] | Assets Under Construction [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	84,561	102,035	126,430
Gross [Member] | Land [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	34,429	33,886	35,032
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	3,898,450	3,559,810	3,369,289
Accumulated Depreciation [Member] | Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	3,577,364	3,210,384	3,056,058
Accumulated Depreciation [Member] | Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	86,471	87,832	79,746
Accumulated Depreciation [Member] | Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	139,095	178,390	161,342
Accumulated Depreciation [Member] | Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	32,754	26,921	23,117
Accumulated Depreciation [Member] | Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Property, plant and equipment	$ 62,766	$ 56,283	$ 49,026

Change in Property, Plant and E

Change in Property, Plant and Equipment (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	$ 3,173,824
Impairment		$ 15,313
Ending Balance	3,038,612	3,173,824
Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	6,733,634	7,011,178
Additions	114,576	74,823
Disposals	(115,029)	(82,826)
Reclassifications		(374)
Effect of foreign currency exchange differences	339,279	(269,167)
Ending Balance	6,937,062	6,733,634
Reclassification to assets held for sale	(135,398)
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	3,559,810	3,369,289
Depreciation expense	373,572	383,521
Disposals	(102,886)	(74,755)
Effect of foreign currency exchange differences	183,694	(133,558)
Ending Balance	3,898,450	3,559,810
Reclassification to assets held for sale	(115,740)
Rig Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	2,823,782
Impairment		15,313
Ending Balance	2,745,172	2,823,782
Rig Equipment [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	6,034,166	6,266,991
Additions	7,013	21,268
Disposals	(32,153)	(71,014)
Reclassifications	127,668	67,779
Effect of foreign currency exchange differences	321,240	(250,858)
Ending Balance	6,322,536	6,034,166
Reclassification to assets held for sale	(135,398)
Rig Equipment [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	3,210,384	3,056,058
Depreciation expense	335,215	334,896
Disposals	(28,399)	(67,304)
Effect of foreign currency exchange differences	175,904	(128,579)
Ending Balance	3,577,364	3,210,384
Reclassification to assets held for sale	(115,740)
Rental Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	60,179
Ending Balance	43,992	60,179
Rental Equipment [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	148,011	159,144
Additions		71
Disposals	(18,227)	(9,758)
Reclassifications		84
Effect of foreign currency exchange differences	679	(1,530)
Ending Balance	130,463	148,011
Rental Equipment [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	87,832	79,746
Depreciation expense	9,418	15,159
Disposals	(11,249)	(6,331)
Effect of foreign currency exchange differences	470	(742)
Ending Balance	86,471	87,832
Other Equipment [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	66,560
Ending Balance	52,195	66,560
Other Equipment [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	244,950	247,073
Additions	347	49
Disposals	(59,865)	(785)
Reclassifications	507	216
Effect of foreign currency exchange differences	5,351	(1,603)
Ending Balance	191,290	244,950
Other Equipment [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	178,390	161,342
Depreciation expense	15,993	19,914
Disposals	(59,857)	(592)
Effect of foreign currency exchange differences	4,569	(2,274)
Ending Balance	139,095	178,390
Vehicles [member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	16,280
Ending Balance	12,702	16,280
Vehicles [member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	43,201	45,147
Additions		42
Disposals	(228)	(339)
Reclassifications		113
Effect of foreign currency exchange differences	2,483	(1,762)
Ending Balance	45,456	43,201
Vehicles [member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	26,921	23,117
Depreciation expense	4,820	5,064
Disposals	(220)	(320)
Effect of foreign currency exchange differences	1,233	(940)
Ending Balance	32,754	26,921
Buildings [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	71,102
Ending Balance	65,561	71,102
Buildings [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	127,385	131,361
Additions	569	235
Disposals	(3,663)	(930)
Effect of foreign currency exchange differences	4,036	(3,281)
Ending Balance	128,327	127,385
Buildings [Member] | Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	56,283	49,026
Depreciation expense	8,126	8,488
Disposals	(3,161)	(208)
Effect of foreign currency exchange differences	1,518	(1,023)
Ending Balance	62,766	56,283
Assets Under Construction [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	102,035
Ending Balance	84,561	102,035
Assets Under Construction [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	102,035	126,430
Additions	106,647	53,158
Reclassifications	(128,175)	(68,566)
Effect of foreign currency exchange differences	4,054	(8,987)
Ending Balance	84,561	102,035
Land [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	33,886
Ending Balance	34,429	33,886
Land [Member] | Gross [Member]
Disclosure of detailed information about property, plant and equipment [Line Items]
Beginning Balance	33,886	35,032
Disposals	(893)
Effect of foreign currency exchange differences	1,436	(1,146)
Ending Balance	$ 34,429	$ 33,886

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [Line Items]
Goodwill impairment charges	$ 207,544
Impairment of property, plant and equipment		$ 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%
Impairment of property, plant and equipment	$ 15,300
Value in use	$ 26,300

Schedule of Intangibles (Detail

Schedule of Intangibles (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about intangible assets [Line Items]
Balance	$ 28,116
Loan commitment fees related to Senior Credit Facility	2,307	$ 3,120
Software	33,094	24,996
Balance	35,401	28,116
Gross [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	39,707	12,345
Additions	12,205	24,972
Reclassifications		2,390
Balance	51,912	39,707
Gross [Member] | Loan Commitment Fees [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	14,138	12,345
Additions	638	1,793
Balance	14,776	14,138
Gross [Member] | Software [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	25,569
Additions	11,567	23,179
Reclassifications		2,390
Balance	37,136	25,569
Accumulated Amortization [member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	11,591	9,029
Amortization expense	4,920	2,562
Balance	16,511	11,591
Accumulated Amortization [member] | Loan Commitment Fees [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	11,018	9,029
Amortization expense	1,451	1,989
Balance	12,469	11,018
Accumulated Amortization [member] | Software [Member]
Disclosure of detailed information about intangible assets [Line Items]
Balance	573
Amortization expense	3,469	573
Balance	$ 4,042	$ 573

Summary of Goodwill (Detail)

Summary of Goodwill (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Reconciliation Of Changes In Goodwill [Abstract]
Goodwill at beginning of period	$ 205,167	$ 207,399
Exchange adjustment	2,377	(2,232)
Impairment charge	$ (207,544)
Goodwill at end of period		$ 205,167

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of information for cash-generating units [Line Items]
Goodwill		$ 205,167	$ 207,399
Goodwill impairment charges	$ 207,544
Projected cash flows period	five-year
Canada Contract Drilling CGU [member]
Disclosure of information for cash-generating units [Line Items]
Goodwill impairment charges	$ 172,200
Recoverable amount of asset or cash-generating unit	11.66%	9.72%
Value in use	$ 941,600
Percentage increase in discount rates resulted in additional impairment	0.50%
Additional impairment charges to remaining assets	$ 37,300
U.S. Directional Drilling CGU [member]
Disclosure of information for cash-generating units [Line Items]
Goodwill impairment charges	$ 35,300
Recoverable amount of asset or cash-generating unit	12.16%	11.72%
Value in use	$ 38,800
Percentage increase in discount rates resulted in additional impairment	0.50%
Additional impairment charges to remaining assets	$ 2,400
Canada Contract Drilling CGU [member]
Disclosure of information for cash-generating units [Line Items]
Goodwill	172,200
U.S. Directional Drilling CGU [member]
Disclosure of information for cash-generating units [Line Items]
Goodwill	$ 35,300

Schedule of Long Term Borrowing

Schedule of Long Term Borrowings (Detail) $ in Thousands, $ in Thousands	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)
Disclosure of long term debt [Line Items]
Long-term debt, gross	$ 1,729,351	$ 1,266,729	$ 1,758,519	$ 1,398,625
Less net unamortized debt issue costs	(23,098)		(28,082)
Long-term debt	1,706,253		1,730,437
6.5% Senior Notes Due 2021 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	226,113	165,625	312,601	248,625
7.75% Senior Notes Due 2023 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	477,823	350,000	440,062	350,000
5.25% Senior Notes Due 2024 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	479,331	351,104	502,928	400,000
7.125% Senior Notes Due 2026 [Member]
Disclosure of long term debt [Line Items]
Long-term debt, gross	$ 546,084	$ 400,000	$ 502,928	$ 400,000

Schedule of Long Term Borrowi_2

Schedule of Long Term Borrowings (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2018
6.5% Senior Notes Due 2021 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	6.50%
Long term debt maturity year	December 15, 2021
7.75% Senior Notes Due 2023 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	7.75%
Long term debt maturity year	December 15, 2023
5.25% Senior Notes Due 2024 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	5.25%
Long term debt maturity year	November 15, 2024
7.125% Senior Notes Due 2026 [Member]
Disclosure of long term debt [Line Items]
Long term debt interest rate	7.125%
Long term debt maturity year	January 15, 2026

Summary of Changes in Long Term

Summary of Changes in Long Term Borrowings (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of long term debt [Line Items]
Beginning balance	$ 1,730,437	$ 1,906,934
Proceeds from issue of senior notes		509,180
Redemption and repurchase of unsecured senior notes	(168,722)	(571,975)
Debt issuance costs		(9,196)
Changes from financing cash flows		(71,991)
Non-cash changes:
Loss (gain) on redemption and repurchase of unsecured senior notes	(5,672)	9,021
Amortization of debt issue costs	4,984	8,173
Foreign exchange adjustment	145,226	(121,700)
Ending balance	1,706,253	1,730,437
Financing:
Redemption and repurchase of unsecured senior notes	(168,722)	(571,975)
Unsecured Senior Notes [Member]
Disclosure of long term debt [Line Items]
Beginning balance	1,758,519	1,933,993
Proceeds from issue of senior notes		509,180
Redemption and repurchase of unsecured senior notes	(168,722)	(571,975)
Changes from financing cash flows		(62,795)
Non-cash changes:
Loss (gain) on redemption and repurchase of unsecured senior notes	(5,672)	9,021
Foreign exchange adjustment	145,226	(121,700)
Ending balance	1,729,351	1,758,519
Financing:
Redemption and repurchase of unsecured senior notes	(168,722)	(571,975)
Debt Issue Costs [Member]
Disclosure of long term debt [Line Items]
Beginning balance	(28,082)	(27,059)
Debt issuance costs		(9,196)
Changes from financing cash flows		(9,196)
Non-cash changes:
Amortization of debt issue costs	4,984	8,173
Ending balance	$ (23,098)	$ (28,082)

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 09, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)
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, 2018, our senior notes Consolidated Interest Coverage Ratio was 2.80:1.
Maximum Consolidated Interest Coverage Ratio to incur additional indebtedness					200.00%	200.00%
Senior notes Consolidated Interest Coverage Ratio		280.00%
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, 2018, the governing restricted payments basket was negative $496 million (2017 – negative $213 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, 2018.
Net restricted payments basket					$ (496,000)		$ (213,000)
Proportion of ownership interest in subsidiary		100.00%
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
Adjusted EBITDA to interest expense coverage ratio		250.00%
Credit facility amount withdrawn						0		$ 0
Borrowings maximum available letters of credit						200,000,000
Outstanding letters of credit		$ 28,200,000	$ 20,900,000
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 March 31, 2019 [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 31, 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%
Senior Credit Facility [Member] | Future Assets [Member]
Disclosure of long term debt [Line Items]
Borrowings additional borrowing capacity				$ 300,000,000		$ 250,000,000
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 June15 and December15 of each year.
Amount redeemed						$ 80,000,000
Repurchased and cancelled						3,000,000
Repurchase price						$ 84,500,000
6.5% Senior Notes Due 2021 [Member] | Borrowings Redemption Period Three
Disclosure of long term debt [Line Items]
Redemption price percentage					101.083%	101.083%
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%
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 June15 and December15 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.
Amount redeemed						$ 48,900,000
Repurchase price						$ 43,200,000
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%

Long-Term Debt Maturities (Deta

Long-Term Debt Maturities (Detail) $ in Thousands, $ in Thousands	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items]
Long-term debt, gross	$ 1,729,351	$ 1,266,729	$ 1,758,519	$ 1,398,625
2021 [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items]
Long-term debt, gross	226,113
2023 [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items]
Long-term debt, gross	477,823
Thereafter [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items]
Long-term debt, gross	$ 1,025,415

Other Recoveries - Additional I

Other Recoveries - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2018CAD ($)
Disclosure Of Other Recoveries [Abstract]
Other recoveries relating to transactions costs	$ 14.2

Summary of Finance Charges (Det

Summary of Finance Charges (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Interest:
Long-term debt	$ 121,810	$ 128,381
Other	378	1,083
Income	(1,444)	(1,858)
Amortization of debt issue costs	6,434	10,162
Other		160
Finance charges	$ 127,178	$ 137,928

Disclosure of Liability Classif

Disclosure of Liability Classified Plans (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	$ 21,869	$ 49,242
Expensed (recovered) during the period	6,390	(3,166)
Payments	(15,848)	(24,207)
Ending balance	12,411	21,869
Current	5,891
Long-term	6,520	13,536
Restricted Share Units (RSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	6,950	15,592
Expensed (recovered) during the period	5,223	2,115
Payments	(6,764)	(10,757)
Ending balance	5,409	6,950
Current	3,112
Long-term	2,297
Performance Share Units (PSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	11,407	29,045
Expensed (recovered) during the period	398	(4,188)
Payments	(7,284)	(13,450)
Ending balance	4,521	11,407
Current	2,779
Long-term	1,742
Share Appreciation Rights [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance		3
Expensed (recovered) during the period		(3)
Deferred Share Units (DSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	3,512	4,602
Expensed (recovered) during the period	769	(1,090)
Payments	(1,800)
Ending balance	2,481	$ 3,512
Long-term	$ 2,481

Share Based Compensation Plan_2

Share Based Compensation Plans - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018CAD ($)sharesStock_UnitYearIncentive_Plan	Dec. 31, 2018USD ($)YearIncentive_Plan	Dec. 31, 2017CAD ($)sharesStock_UnitYear	Dec. 31, 2016Stock_Unit
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number of cash-settled share based incentive plans | Incentive_Plan	2	2
Option vesting period	3 years	3 years
Option expiration term	7 years	7 years
Weighted average fair value of share options granted	$ 1.96		$ 1.59
Average risk-free interest rate	2.00%	2.00%	1.00%
Average expected life | Year	4	4	4
Expected forfeiture rate	5.00%	5.00%	5.00%
Expected volatility	56.00%	56.00%	54.00%
Stock-based compensation expense	$ (6,390,000)		$ 3,166,000
Employee Stock Purchase Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Eligible employees contribute	10.00%	10.00%
Employees matching contribute percentage	20.00%	20.00%
Compensation expense	$ 700,000		$ 800,000
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	3 years
SARs outstanding | Stock_Unit	4,055,914		2,796,858	3,129,039
Stock-based compensation expense	$ (5,223,000)		$ (2,115,000)
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	3 years
SARs outstanding | Stock_Unit	4,542,990		5,726,259	6,493,798
Stock-based compensation expense	$ (398,000)		$ 4,188,000
Share Appreciation Rights [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
SARs outstanding	0		136,169	253,376
SARs vesting period	5 years	5 years
SARs expire period	10 years	10 years
SARs intrinsic value	$ 0		$ 0
Stock-based compensation expense			3,000
U.S. Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Weighted average share price		$ 4.02
Stock-based compensation expense	$ 3,300,000		$ 3,200,000
Executive Performance Share Units [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
SARs outstanding | shares	3,191,067		1,159,000
Weighted average share price	$ 4.29		$ 5.08
Weighted average fair value of share options granted	$ 6.22		$ 6
Average risk-free interest rate	2.30%	2.30%	1.20%
Average expected life | Year	3	3	3
Expected volatility	59.00%	59.00%	60.00%
Stock-based compensation expense	$ 5,900,000		$ 1,900,000
Expected dividend yield	0.00%	0.00%	0.00%

Summary of Shares Outstanding U

Summary of Shares Outstanding Under Share Based Incentive Plans (Detail)	12 Months Ended
	Dec. 31, 2018USD ($)sharesStock_Unit$ / shares	Dec. 31, 2017USD ($)sharesStock_Unit$ / shares	Dec. 31, 2016$ / shares
Equity-Settled Plans [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	195,743
Redeemed	(102,570)
Ending balance	93,173	195,743
Restricted Share Units (RSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance | Stock_Unit	2,796,858	3,129,039
Granted | Stock_Unit	2,918,912	1,343,669
Redeemed | Stock_Unit	(1,404,284)	(1,404,271)
Forfeited | Stock_Unit	255,572	(271,579)
Ending balance | Stock_Unit	4,055,914	2,796,858
Performance Share Units (PSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance | Stock_Unit	5,726,259	6,493,798
Granted | Stock_Unit	1,292,550	828,400
Redeemed | Stock_Unit	(2,137,163)	(1,325,692)
Forfeited | Stock_Unit	338,656	(270,247)
Ending balance | Stock_Unit	4,542,990	5,726,259
Share Appreciation Rights [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance | Stock_Unit	136,169	253,376
Forfeited | Stock_Unit	(136,169)	(117,207)
Ending balance	0	136,169
Weighted Average Exercise Price, Beginning balance | $	$ 15.22	$ 15.47
Weighted Average Exercise Price, Forfeited | $		15.75
Weighted Average Exercise Price, Ending balance | $		$ 15.22
Exercisable, Beginning balance	136,169	253,376
Exercisable, Ending balance		136,169
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
Range of Exercise Price, Forfeited | $ / shares	$ 15.22	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
Range of Exercise Price, Forfeited | $ / shares	$ 15.22	$ 17.38
Deferred Share Units (DSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	953,277	621,821
Granted	474,766	331,456
Redeemed	(374,408)
Ending balance	1,053,635	953,277
Executive Performance Share Units [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Beginning balance	1,159,000
Granted	2,082,800	1,159,000
Forfeited	(50,733)
Ending balance	3,191,067	1,159,000
Weighted Average Exercise Price, Beginning balance | $	$ 6
Weighted Average Exercise Price, Forfeited | $	6.12
Weighted Average Exercise Price, Ending balance | $	6.14	$ 6
Weighted Fair Value, Granted | $	$ 6.22	$ 6

Summary of Status of Equity Inc

Summary of Status of Equity Incentive Plan (Detail)	12 Months Ended
	Dec. 31, 2018CAD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017CAD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016shares
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Weighted Average Exercise Price, Forfeitures	$ 10.58		$ 8.98
Canadian Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Options Outstanding, Beginning balance | shares	4,900,360	4,900,360	6,188,672	6,188,672
Options Outstanding, Granted | shares	490,200	490,200	377,100	377,100
Options Outstanding, Forfeited | shares	(657,404)	(657,404)	(1,665,412)	(1,665,412)
Options Outstanding, Endiing balance | shares	4,733,156	4,733,156	4,900,360	4,900,360
Weighted Average Exercise Price, Beginning balance	$ 8.50		$ 8.70
Weighted Average Exercise Price, Granted	4.35		7.30
Weighted Average Exercise Price, Ending balance	$ 7.78		$ 8.50
Options exercisable | shares	3,786,473	3,786,473	3,734,019	3,734,019	4,369,155
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	$ 4.46		$ 4.46
Range of Exercise Prices, Granted	4.35		7.30
Range of Exercise Prices, Forfeitures	10.44		7.32
Range of Exercise Prices, Ending balance	4.35		4.46
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	14.50		14.50
Range of Exercise Prices, Granted	4.35		7.30
Range of Exercise Prices, Forfeitures	14.50		14.50
Range of Exercise Prices, Ending balance	$ 14.31		$ 14.50
U.S. Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Options Outstanding, Beginning balance | shares	5,558,621	5,558,621	5,337,070	5,337,070
Options Outstanding, Granted | shares	1,569,250	1,569,250	1,165,900	1,165,900
Options Outstanding, Forfeited | shares	(996,021)	(996,021)	(944,349)	(944,349)
Options Outstanding, Endiing balance | shares	6,065,850	6,065,850	5,558,621	5,558,621
Weighted Average Exercise Price, Beginning balance		$ 6.16		$ 6.69
Weighted Average Exercise Price, Granted		3.45		5.56
Weighted Average Exercise Price, Forfeitures		8.08		8.42
Weighted Average Exercise Price, Ending balance		5.17		$ 6.16
Weighted Average Exercise Price, Exercised		$ 3.21
Options exercisable | shares	3,224,078	3,224,078	2,891,808	2,891,808	2,626,326
Options Outstanding, Exercised | shares	(66,000)	(66,000)
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		$ 3.21		$ 3.21
Range of Exercise Prices, Granted		3.44		3.99
Range of Exercise Prices, Exercised		3.21
Range of Exercise Prices, Forfeitures		3.21		5.79
Range of Exercise Prices, Ending balance		3.21		3.21
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		15.21		15.21
Range of Exercise Prices, Granted		3.62		5.57
Range of Exercise Prices, Exercised		3.21
Range of Exercise Prices, Forfeitures		15.21		10.96
Range of Exercise Prices, Ending balance		$ 10.74		$ 15.21

Range of Exercise Prices for Op

Range of Exercise Prices for Options Outstanding (Detail)	12 Months Ended
	Dec. 31, 2018CAD ($)sharesYear	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)sharesYear	Dec. 31, 2017CAD ($)sharesYear	Dec. 31, 2017USD ($)sharesYear	Dec. 31, 2016CAD ($)shares	Dec. 31, 2016USD ($)shares
Canadian Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	4,733,156			4,733,156	4,900,360	4,900,360	6,188,672	6,188,672
Total options outstanding, Weighted average exercise price	$ 7.78				$ 8.50		$ 8.70
Options exercisable, Number | shares	3,786,473			3,786,473	3,734,019	3,734,019	4,369,155	4,369,155
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	1,105,400			1,105,400
Total options outstanding, Weighted average exercise price	$ 4.41
Total options outstanding, Weighted average remaining contractual life (years) | Year	5.04			5.04
Options exercisable, Number | shares	410,122			410,122
Options exercisable, Weighted average exercise price	$ 4.46
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	6.99
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	$ 4.34
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	1,539,001			1,539,001
Total options outstanding, Weighted average exercise price	$ 7.32
Total options outstanding, Weighted average remaining contractual life (years) | Year	3.58			3.58
Options exercisable, Number | shares	1,287,596			1,287,596
Options exercisable, Weighted average exercise price	$ 7.33
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	8.99
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	$ 7
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	2,088,755			2,088,755
Total options outstanding, Weighted average exercise price	$ 9.90
Total options outstanding, Weighted average remaining contractual life (years) | Year	1.12			1.12
Options exercisable, Number | shares	2,088,755			2,088,755
Options exercisable, Weighted average exercise price	$ 9.90
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	14.31
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	$ 9
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	4,733,156			4,733,156
Total options outstanding, Weighted average exercise price	$ 7.78
Total options outstanding, Weighted average remaining contractual life (years) | Year	2.83			2.83
Options exercisable, Number | shares	3,786,473			3,786,473
Options exercisable, Weighted average exercise price	$ 8.43
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	14.31
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	$ 4.34
U.S. Share Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Total options outstanding, Number | shares	6,065,850			6,065,850	5,558,621	5,558,621	5,337,070	5,337,070
Total options outstanding, Weighted average exercise price				$ 5.17		$ 6.16		$ 6.69
Options exercisable, Number | shares	3,224,078			3,224,078	2,891,808	2,891,808	2,626,326	2,626,326
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		$ 3.21
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		$ 3.21
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					3,046,950	3,046,950
Total options outstanding, Weighted average exercise price						$ 3.33
Total options outstanding, Weighted average remaining contractual life (years) | Year					5.18	5.18
Options exercisable, Number | shares					995,888	995,888
Options exercisable, Weighted average exercise price						$ 3.21
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			$ 3.99
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					1,924,500	1,924,500
Total options outstanding, Weighted average exercise price						$ 5.61
Total options outstanding, Weighted average remaining contractual life (years) | Year					4.37	4.37
Options exercisable, Number | shares					1,133,790	1,133,790
Options exercisable, Weighted average exercise price						$ 5.66
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			6.99
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			4
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					1,094,400	1,094,400
Total options outstanding, Weighted average exercise price						$ 9.52
Total options outstanding, Weighted average remaining contractual life (years) | Year					1.19	1.19
Options exercisable, Number | shares					1,094,400	1,094,400
Options exercisable, Weighted average exercise price						$ 9.52
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			10.74
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			7
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					6,065,850	6,065,850
Total options outstanding, Weighted average exercise price						$ 5.17
Total options outstanding, Weighted average remaining contractual life (years) | Year					4.20	4.20
Options exercisable, Number | shares					3,224,078	3,224,078
Options exercisable, Weighted average exercise price						$ 6.22
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			10.74
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

Schedule of Provision for Incom

Schedule of Provision for Income Taxes (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation Of Changes In Deferred Tax Liability Asset [Abstract]
Loss before income taxes	$ (323,596)	$ (232,057)
Federal and provincial statutory rates	27.00%	27.00%
Tax at statutory rates	$ (87,371)	$ (62,655)
Adjusted for the effect of:
Non-deductible expenses	49,455	2,672
Non-taxable capital gains	(845)	(175)
Income taxed at lower rates		(42,334)
Impact of foreign tax rates	4,861	(2,814)
Withholding taxes	1,061	1,165
Taxes related to prior years	3,803	(618)
Other	(290)	4,738
Income tax recovery	$ (29,326)	$ (100,021)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
US federal corporate tax rate	21.00%	35.00%
Deferred income tax expense on revaluation of US federal income tax rate		$ 15,800
Long-term receivable for alternative minimum tax carryforward balance		2,400
Loss carryforwards not recognized as deferred incom tax asset	$ 37,100
Unrecognized tax benefits	2,040	1,980	$ 1,923
Interest and penalties included in unrecognized tax benefits	500	500
Unrecognized tax benefits realized in next twelve months	2,000
Temporary differences [Member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Tax effected temporary differences related to US operations	$ 33,200	$ 38,800

Summary of Net Deferred Tax Lia

Summary of Net Deferred Tax Liability (Detail) - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax liability:
Property, plant and equipment and intangibles	$ 467,109	$ 454,613
Debt issue costs	3,534	3,352
Partnership deferrals	1,730
Other	5,722	6,709
Deferred income tax liability	478,095	464,674
Offsetting of assets and liabilities	(405,316)	(345,763)
Deferred tax liabilities	72,779	118,911
Deferred income tax assets:
Losses (expire from time to time up to 2037)	423,595	368,133
Partnership deferrals		335
Long-term incentive plan	6,849	7,935
Other	11,752	11,182
Deferred income tax asset	442,196	387,585
Offsetting of assets and liabilities	(405,316)	(345,763)
Deferred tax assets	36,880	41,822
Net deferred income tax liability	$ 35,899	$ 77,089

Summary of Movement in Temporar

Summary of Movement in Temporary Differences of Deferred Tax Liabilities (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment and Intangibles [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	$ 454,613	$ 629,967
Recognized in net loss	(9,667)	(149,489)
Effect of foreign currency exchange differences	22,163	(25,865)
Ending Balance	467,109	454,613
Partnership Deferrals [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(335)	(16,447)
Recognized in net loss	2,065	16,112
Ending Balance	1,730	(335)
Other Deferred Income Tax Liabilities [Member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	6,709	6,159
Recognized in net loss	(1,005)	545
Effect of foreign currency exchange differences	18	5
Ending Balance	5,722	6,709
Losses [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(368,133)	(418,253)
Recognized in net loss	(30,660)	24,124
Effect of foreign currency exchange differences	(24,802)	25,996
Ending Balance	(423,595)	(368,133)
Debt Issue Costs [Member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	3,352	4,215
Recognized in net loss	182	(863)
Ending Balance	3,534	3,352
Long-Term Incentive Plan [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(7,935)	(18,270)
Recognized in net loss	1,325	9,651
Effect of foreign currency exchange differences	(239)	684
Ending Balance	(6,849)	(7,935)
Other Deferred Income Tax Assets [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	(11,182)	(12,753)
Recognized in net loss	(139)	1,230
Effect of foreign currency exchange differences	(431)	341
Ending Balance	(11,752)	(11,182)
Net Deferred Income Tax Liability [member]
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Beginning Balance	77,089	174,618
Recognized in net loss	(37,899)	(98,690)
Effect of foreign currency exchange differences	(3,291)	1,161
Ending Balance	$ 35,899	$ 77,089

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefits (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation Of Changes In Deferred Tax Liability Asset [Abstract]
Unrecognized tax benefits, beginning of year	$ 1,980	$ 1,923
Additions:
Prior year’s tax positions	60	57
Reductions:
Unrecognized tax benefits, end of year	$ 2,040	$ 1,980

Bank Indebtedness - Additional

Bank Indebtedness - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)
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 rate plus 80% of applicable margin, or Banker’s Acceptance plus 80% of 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	$ 27,800,000		$ 20,800,000
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		$ 2,100,000		$ 13,300,000

Change in Provisions and Other

Change in Provisions and Other (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Other Provisions [Abstract]
Beginning balance	$ 13,232	$ 15,461
Expensed during the year	3,359	2,613
Payment of deductibles and uninsured claims	(4,271)	(3,929)
Effects of foreign currency exchange differences	1,053	(913)
Ending balance	$ 13,373	$ 13,232

Balance Sheet Classification of

Balance Sheet Classification of Provisions and Other (Detail) - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Other Provisions [Abstract]
Current	$ 2,796	$ 3,146
Long-term	10,577	10,086
Other provisions	$ 13,373	$ 13,232	$ 15,461

Schedule of Issued Capital (Det

Schedule of Issued Capital (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018CAD ($)shares
Disclosure Of Classes Of Share Capital [Abstract]
Beginning balance, shares | shares	293,238,858
Issued on redemption of non-management directors' DSUs, shares | shares	476,978
Options exercised – cash consideration, shares | shares	66,000
Ending balance, shares | shares	293,781,836
Beginning balance	$ 2,319,293
Issued on redemption of non-management directors' DSUs	2,609
Options exercised – cash consideration	275
– reclassification from contributed surplus	103
Ending balance	$ 2,322,280

Summary of Per Share Amounts (D

Summary of Per Share Amounts (Detail) - CAD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Weighted Average Shares And Adjusted Weighted Average Shares [Abstract]
Net loss for the period	$ (294,270)	$ (132,036)
Weighted average shares outstanding – basic	293,560	293,239
Effect of stock options and other equity compensation plans	0	0
Weighted average shares outstanding – diluted	293,560	293,239

Summary of Accumulated Other Co

Summary of Accumulated Other Comprehensive Income (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 131,610
Other comprehensive income (loss)	30,404	$ (24,846)
Ending Balance	162,014	131,610
Unrealized Foreign Currency Translation Gains (Losses) [member]
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	440,733	587,278
Other comprehensive income (loss)	175,630	(146,545)
Ending Balance	616,363	440,733
Foreign Exchange Gain (Loss) on Net Investment Hedge [member]
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(309,123)	(430,822)
Other comprehensive income (loss)	(145,226)	121,699
Ending Balance	(454,349)	(309,123)
Accumulated Other Comprehensive Income [Member]
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	131,610	156,456
Other comprehensive income (loss)	30,404	(24,846)
Ending Balance	$ 162,014	$ 131,610

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Employees Benefit [Abstract]
Individual contributions under defined contribution pension plan	5.00%
Total expense under the defined contribution plan	$ 12	$ 10.4

Compensation of Key Management

Compensation of Key Management Personnel (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Transactions Between Related Parties [Abstract]
Salaries and other benefits	$ 6,732	$ 6,078
Equity settled share based compensation	5,562	3,036
Cash settled share based compensation	722	(3,945)
Key management personnel compensation	$ 13,016	$ 5,169

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018
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, 2018	Dec. 31, 2017
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	$ 179.8	$ 132.9
2019 [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	88
2020 [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Commitments to purchase property, plant and equipment	73.6
2021 [Member]
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, 2018	Dec. 31, 2017
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	$ 67,932	$ 61,602
2019 [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	13,496	12,248
Between One and Five Years [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	36,639	27,445
Thereafter [Member]
Disclosure of finance lease and operating lease by lessee [Line Items]
Non-conceallable operating lease	$ 17,797	$ 21,909

Amounts Recognized as Expenses

Amounts Recognized as Expenses in Respect of Operating Leases (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Lease And Sublease Payments Recognised As Expense [Abstract]
Operating leases	$ 17,187	$ 16,311
Sub-lease recoveries	(540)	(441)
Operating leases and sublease recoveries recognised as expense	$ 16,647	$ 15,870

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - CAD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about financial instruments [Line Items]
Fair value of unsecured senior notes	$ 1,548	$ 1,765
Credit Risk [Member]
Disclosure of detailed information about financial instruments [Line Items]
Trade receivables	$ 18.1	$ 11.7

Summary of Expected Credit Loss

Summary of Expected Credit Loss Allowance (Detail) - Trade receivables [Member] - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Allowance For Doubtful Accounts [Line Items]
Beginning balance	$ 2,596	$ 6,072
Impairment loss recognized	483	56
Amounts written-off as uncollectible	(416)	(3,296)
Impairment loss reversed	(1,247)	(30)
Effect of movement in exchange rates	54	(206)
Ending balance	$ 1,470	$ 2,596

Summary of Ageing of Trade Rece

Summary of Ageing of Trade Receivables (Detail) - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Disclosure of provision matrix [Line Items]
Total Trade Receivables	$ 264,589	$ 178,433
Gross [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	266,059	181,029
Gross [Member] | Not Past Due [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	175,277	92,880
Gross [Member] | Past Due 0 - 30 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	64,351	66,723
Gross [Member] | Past Due 31 - 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	25,032	19,410
Gross [Member] | Past Due More than 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	1,399	2,016
Provision for Impairment [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	1,470	2,596
Provision for Impairment [Member] | Past Due 31 - 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	71	580
Provision for Impairment [Member] | Past Due More than 120 Days [Member]
Disclosure of provision matrix [Line Items]
Total Trade Receivables	$ 1,399	$ 2,016

Summary of Financial Instrument

Summary of Financial Instruments were Denominated in U S Dollars (Detail) $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)
Disclosure of detailed information about financial instruments [Line Items]
Cash			$ 96,626		$ 65,081
Accounts receivable			372,336		322,585
Accounts payable and accrued liabilities			$ (274,489)		$ (209,625)
Canadian Operations [Member] | Currency Risk [Member]
Disclosure of detailed information about financial instruments [Line Items]
Cash				$ 957		$ 1,720
Accounts receivable				482
Accounts payable and accrued liabilities				(20,655)		(13,221)
Net foreign currency exposure				(19,216)		(11,501)
Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on net loss	$ (192)	$ (115)
Foreign Operations [Member] | Currency Risk [Member]
Disclosure of detailed information about financial instruments [Line Items]
Cash				49,302		39,636
Accounts receivable				181,609		152,216
Accounts payable and accrued liabilities				(122,417)		(98,008)
Long-term liabilities, excluding long-term incentive plans				(7,747)		(8,023)
Net foreign currency exposure				$ 100,747		$ 85,821
Impact of $0.01 change in the U.S. dollar to Canadian dollar exchange rate on comprehensive loss	$ 1,007	$ 858

Summary of Contractual Maturiti

Summary of Contractual Maturities of Financial Liabilities and Other Contractual Commitments (Detail) $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	$ 1,729,351	$ 1,266,729	$ 1,758,519	$ 1,398,625
2021 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	226,113
2023 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	477,823
Thereafter [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	1,025,415
Liquidity risk [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Accounts payable and accrued liabilities	(274,489)
Share based compensation	16,660
Long-term debt, gross	1,729,351
Interest on long-term debt	648,918
Commitments	247,775
Financial Liabilities, Carrying Amount	2,917,193
Liquidity risk [Member] | 2019 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Accounts payable and accrued liabilities	(274,489)
Share based compensation	6,221
Interest on long-term debt	115,802
Commitments	101,542
Financial Liabilities, Carrying Amount	498,054
Liquidity risk [Member] | 2020 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Share based compensation	4,357
Interest on long-term debt	115,802
Commitments	84,404
Financial Liabilities, Carrying Amount	204,563
Liquidity risk [Member] | 2021 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Share based compensation	6,082
Long-term debt, gross	226,113
Interest on long-term debt	115,190
Commitments	27,811
Financial Liabilities, Carrying Amount	375,196
Liquidity risk [Member] | 2022 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Interest on long-term debt	101,105
Commitments	8,604
Financial Liabilities, Carrying Amount	109,709
Liquidity risk [Member] | 2023 [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	477,823
Interest on long-term debt	99,562
Commitments	7,617
Financial Liabilities, Carrying Amount	585,002
Liquidity risk [Member] | Thereafter [Member]
Disclosure of Nonderivative Financial Instruments [Line Items]
Long-term debt, gross	1,025,415
Interest on long-term debt	101,457
Commitments	17,797
Financial Liabilities, Carrying Amount	$ 1,144,669

Capital Management - Summary of

Capital Management - Summary of Capitalization and Ratio (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Capitalisation [Abstract]
Long-term debt	$ 1,706,253	$ 1,730,437
Shareholders’ equity	1,557,752	1,810,336
Total capitalization	$ 3,264,005	$ 3,540,773
Long-term debt to long-term debt plus equity ratio	0.52%	0.49%

Capital Management - Additional

Capital Management - Additional Information (Detail) $ in Thousands	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017CAD ($)	Dec. 31, 2017USD ($)
Disclosure Of Capitalisation [Line Items]
Cash	$ 96,626		$ 65,081
Senior Credit Facility [Member]
Disclosure Of Capitalisation [Line Items]
Line of credit borrowing capacity		$ 500,000,000		$ 500,000,000
Line of credit outstanding		0
Letters of credit outstanding		28,200,000		20,900,000
Secured Operating Facility [Member]
Disclosure Of Capitalisation [Line Items]
Line of credit borrowing capacity	101,400		96,600
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	$ 27,800		$ 20,800
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		2,100,000		13,300,000
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, 2018	Dec. 31, 2017
Disclosure Of Change In Noncash Working Capital Balances [Abstract]
Accounts receivable	$ (32,709)	$ (41,309)
Inventory	(7,504)	(3,902)
Accounts payable and accrued liabilities	23,225	(30,158)
Non cash working capital	(16,988)	(75,369)
Operations	(17,880)	(67,380)
Investments	$ 892	$ (7,989)

Components of Accounts Receivab

Components of Accounts Receivable (Detail) - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts Receivable [Abstract]
Trade	$ 264,589	$ 178,433
Accrued trade	47,426	91,708
Prepaids and other	60,321	52,444
Trade and other current receivables	$ 372,336	$ 322,585

Components of Accounts Payable

Components of Accounts Payable and Accrued Liabilities (Detail) - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts Payable And Accrued Liabilities [Abstract]
Accounts payable	$ 129,493	$ 87,436
Accrued liabilities:
Payroll	73,682	58,550
Other	71,314	63,639
Accounts payable and accrued liabilities	$ 274,489	$ 209,625

Supplemental Information - Addi

Supplemental Information - Additional Information (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Supplemental Information [Line Items]
Operating expense	$ 1,067,871	$ 926,171
General and administrative expense	112,387	90,072
Depreciation and Amortization and Impairment of Property, Plant and Equipment [Member]
Supplemental Information [Line Items]
Operating expense	358,400	364,200
General and administrative expense	$ 7,200	$ 13,500

Summary of Operating and Genera

Summary of Operating and General and Administrative Expenses (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Expense By Nature [Abstract]
Wages, salaries and benefits	$ 728,101	$ 580,482
Purchased materials, supplies and services	422,359	433,827
Share based compensation	15,598	1,934
Operating and general and administrative expenses	1,166,058	1,016,243
Allocated to:
Operating expense	1,067,871	926,171
General and administrative	112,387	90,072
Other recoveries	(14,200)
Operating and general and administrative expenses	$ 1,166,058	$ 1,016,243

Contingencies and Guarantees -

Contingencies and Guarantees - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018CAD ($)
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

Condensed Consolidating Stateme

Condensed Consolidating Statement of Financial Position (Detail) - CAD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash	$ 96,626	$ 65,081
Other current assets	406,417	376,665
Assets held for sale	19,658
Property, plant and equipment	3,038,612	3,173,824
Intangibles	35,401	28,116
Goodwill		205,167	$ 207,399
Other long-term assets	39,329	44,078
Total assets	3,636,043	3,892,931
Liabilities and shareholders’ equity
Current liabilities	282,162	209,625
Long-term debt	1,706,253	1,730,437
Other long-term liabilities	89,876	142,533
Total liabilities	2,078,291	2,082,595
Shareholders’ equity	1,557,752	1,810,336	$ 1,962,118
Total liabilities and shareholders’ equity	3,636,043	3,892,931
Parent Company [Member]
Assets
Cash	28,626	20,843
Other current assets	4,798	38,558
Intercompany receivables	51,616	93,662
Investments in subsidiaries	4,522,964	4,822,876
Property, plant and equipment	55,430	64,605
Intangibles	33,548	25,644
Total assets	4,696,982	5,066,188
Liabilities and shareholders’ equity
Current liabilities	42,211	36,331
Intercompany payables and debt	1,918,306	1,795,141
Long-term debt	1,706,253	1,730,437
Other long-term liabilities	88,983	135,053
Total liabilities	3,755,753	3,696,962
Shareholders’ equity	941,229	1,369,226
Total liabilities and shareholders’ equity	4,696,982	5,066,188
Guarantor Subsidiaries [Member]
Assets
Cash	37,138	5,422
Other current assets	308,450	261,883
Intercompany receivables	1,887,405	2,669,280
Investments in subsidiaries	68	61
Assets held for sale	19,658
Property, plant and equipment	2,541,060	2,659,831
Intangibles	1,853	2,472
Goodwill		205,167
Other long-term assets	46,620	53,908
Total assets	4,842,252	5,858,024
Liabilities and shareholders’ equity
Current liabilities	190,239	124,482
Intercompany payables and debt	60,101	1,000,167
Other long-term liabilities	13,160	17,978
Total liabilities	263,500	1,142,627
Shareholders’ equity	4,578,752	4,715,397
Total liabilities and shareholders’ equity	4,842,252	5,858,024
Non-Guarantor Subsidiaries [Member]
Assets
Cash	30,862	38,816
Other current assets	93,166	76,221
Intercompany receivables	80,735	84,861
Property, plant and equipment	441,509	449,917
Other long-term assets	5,479	3,051
Total assets	651,751	652,866
Liabilities and shareholders’ equity
Current liabilities	49,712	48,812
Intercompany payables and debt	41,349	52,495
Other long-term liabilities	503	2,383
Total liabilities	91,564	103,690
Shareholders’ equity	560,187	549,176
Total liabilities and shareholders’ equity	651,751	652,866
Consolidating Adjustments [Member]
Assets
Other current assets	3	3
Intercompany receivables	(2,019,756)	(2,847,803)
Investments in subsidiaries	(4,523,032)	(4,822,937)
Property, plant and equipment	613	(529)
Other long-term assets	(12,770)	(12,881)
Total assets	(6,554,942)	(7,684,147)
Liabilities and shareholders’ equity
Intercompany payables and debt	(2,019,756)	(2,847,803)
Other long-term liabilities	(12,770)	(12,881)
Total liabilities	(2,032,526)	(2,860,684)
Shareholders’ equity	(4,522,416)	(4,823,463)
Total liabilities and shareholders’ equity	$ (6,554,942)	$ (7,684,147)

Condensed Consolidating State_2

Condensed Consolidating Statement of Earnings (Loss) (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of subsidiaries [Line Items]
Revenue	$ 1,541,189	$ 1,321,224
Operating expense	1,067,871	926,171
General and administrative expense	112,387	90,072
Other recoveries	(14,200)
Earnings (loss) before income taxes, equity in loss of subsidiaries, gain (loss) on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of goodwill and depreciation and amortization	375,131	304,981
Depreciation and amortization	365,660	377,746
Impairment of goodwill	207,544
Impairment of property, plant and equipment		15,313
Foreign exchange	4,017	(2,970)
Finance charges	127,178	137,928
(Gain) loss on redemption and repurchase of unsecured senior notes	(5,672)	9,021
Loss before income taxes	(323,596)	(232,057)
Income taxes	(29,326)	(100,021)
Net loss	(294,270)	(132,036)
Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Revenue	1,356,913	1,138,049
Operating expense	950,058	809,233
General and administrative expense	49,305	44,932
Earnings (loss) before income taxes, equity in loss of subsidiaries, gain (loss) on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of goodwill and depreciation and amortization	357,550	283,884
Depreciation and amortization	298,019	302,958
Impairment of goodwill	207,544
Impairment of property, plant and equipment		15,313
Foreign exchange	(443)	(889)
Finance charges	(233)	(68)
Loss before income taxes	(147,337)	(33,430)
Income taxes	13,863	(59,120)
Net loss	(161,200)	25,690
Non-Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Revenue	191,131	190,401
Operating expense	124,689	124,115
General and administrative expense	10,444	9,535
Earnings (loss) before income taxes, equity in loss of subsidiaries, gain (loss) on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of goodwill and depreciation and amortization	55,998	56,751
Depreciation and amortization	60,542	61,450
Foreign exchange	(359)	294
Finance charges	653	(31)
Loss before income taxes	(4,838)	(4,962)
Income taxes	2,936	6,666
Net loss	(7,774)	(11,628)
Consolidating Adjustments [Member]
Disclosure of subsidiaries [Line Items]
Revenue	(6,959)	(7,315)
Operating expense	(6,959)	(7,315)
Depreciation and amortization	217	220
Equity in loss of subsidiaries	(168,975)	12,383
Loss before income taxes	168,758	(12,603)
Net loss	168,758	(12,603)
Parent [Member]
Disclosure of subsidiaries [Line Items]
Revenue	104	89
Operating expense	83	138
General and administrative expense	52,638	35,605
Other recoveries	(14,200)
Earnings (loss) before income taxes, equity in loss of subsidiaries, gain (loss) on redemption and repurchase of unsecured senior notes, finance charges, foreign exchange, impairment of goodwill and depreciation and amortization	(38,417)	(35,654)
Depreciation and amortization	6,882	13,118
Foreign exchange	4,819	(2,375)
Finance charges	126,758	138,027
(Gain) loss on redemption and repurchase of unsecured senior notes	(5,672)	9,021
Equity in loss of subsidiaries	168,975	(12,383)
Loss before income taxes	(340,179)	(181,062)
Income taxes	(46,125)	(47,567)
Net loss	$ (294,054)	$ (133,495)

Condensed Consolidating State_3

Condensed Consolidating Statement of Comprehensive Income (Loss) (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of subsidiaries [Line Items]
Net income (loss)	$ (294,270)	$ (132,036)
Other comprehensive income (loss)	30,404	(24,846)
Comprehensive loss	(263,866)	(156,882)
Parent Company [Member]
Disclosure of subsidiaries [Line Items]
Net income (loss)	(294,054)	(133,495)
Other comprehensive income (loss)	(145,226)	121,699
Comprehensive loss	(439,280)	(11,796)
Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Net income (loss)	(161,200)	25,690
Other comprehensive income (loss)	129,804	(110,717)
Comprehensive loss	(31,396)	(85,027)
Non-Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Net income (loss)	(7,774)	(11,628)
Other comprehensive income (loss)	45,190	(35,661)
Comprehensive loss	37,416	(47,289)
Consolidating Adjustments [Member]
Disclosure of subsidiaries [Line Items]
Net income (loss)	168,758	(12,603)
Other comprehensive income (loss)	636	(167)
Comprehensive loss	$ 169,394	$ (12,770)

Condensed Consolidating State_4

Condensed Consolidating Statement of Cash Flow (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of subsidiaries [Line Items]
Operations	$ 293,334	$ 116,555
Investments	(100,794)	(91,150)
Financing	(169,085)	(73,784)
Effects of exchange rate changes on cash and cash equivalents	8,090	(2,245)
Increase (decrease) in cash and cash equivalents	31,545	(50,624)
Cash and cash equivalents, beginning of year	65,081	115,705
Cash and cash equivalents, end of year	96,626	65,081
Parent Company [Member]
Disclosure of subsidiaries [Line Items]
Operations	(102,901)	(160,698)
Investments	277,501	191,638
Financing	(169,085)	(73,784)
Effects of exchange rate changes on cash and cash equivalents	2,268	1,893
Increase (decrease) in cash and cash equivalents	7,783	(40,951)
Cash and cash equivalents, beginning of year	20,843	61,794
Cash and cash equivalents, end of year	28,626	20,843
Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Operations	351,782	243,364
Investments	(75,740)	(58,942)
Financing	(247,017)	(190,360)
Effects of exchange rate changes on cash and cash equivalents	2,691	(1,778)
Increase (decrease) in cash and cash equivalents	31,716	(7,716)
Cash and cash equivalents, beginning of year	5,422	13,138
Cash and cash equivalents, end of year	37,138	5,422
Non-Guarantor Subsidiaries [Member]
Disclosure of subsidiaries [Line Items]
Operations	44,453	33,889
Investments	(16,253)	(11,152)
Financing	(39,285)	(22,334)
Effects of exchange rate changes on cash and cash equivalents	3,131	(2,360)
Increase (decrease) in cash and cash equivalents	(7,954)	(1,957)
Cash and cash equivalents, beginning of year	38,816	40,773
Cash and cash equivalents, end of year	30,862	38,816
Consolidating Adjustments [Member]
Disclosure of subsidiaries [Line Items]
Investments	(286,302)	(212,694)
Financing	$ 286,302	$ 212,694

Summary of Subsidiaries (Detail

Summary of Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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%