Precision Drilling Trust, Calgary, (Toronto: PD-UN) has raised US$172.5 million in an offering of 46 million trust units at US$3.75 each to fund the buyback of convertible notes. RBC Capital Markets and Deutsche Bank Securities Inc. were lead underwriters and TD Securities Inc., HSBC Securities (Canada) Inc., Cormark Securities Inc., FirstEnergy Capital Corp. and Tristone Capital Inc. were underwriters.

Precision provides energy services to the North American oil and gas industry, including drilling rigs, service rigs, camps, snubbing units and other materials.