Stoneham Drilling Trust, was an income trust headquartered in Calgary, Alberta that provided contract drilling services to oil and natural gas exploration and production companies operating in western Canada.
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The company maintained a fleet of nineteen drilling rigs. Emphasis is placed on operational performance and rig utilization. Stoneham began trading on the TSX on January 6, 2005 under the symbol SDG.UN. The Trust pays monthly cash distributions to unitholders. On June 10, 2011 Stoneham was purchased by Western Energy Services Corp (TSX-V: WRG).
Stoneham's rigs are capable of carrying out a variety of drilling activities, including directional, horizontal, pad drilling, under-balanced drilling and re-entry work. All rigs are engineered to accept top drives. They are designed to perform under extreme weather conditions, because drilling operations run 24 hours a day, seven days a week, 365 days a year.
Source of the article : Wikipedia
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