Exhibit 99.2

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

(Stated in thousands of Canadian dollars)	June 30, 2014			December 31, 2013
ASSETS
Current assets:
Cash	$	576,493		$	80,606
Accounts receivable		474,063			549,697
Inventory		13,573			12,378
Assets held for sale (Note 12)		24,550			–
Total current assets		1,088,679			642,681
Non-current assets:
Income tax receivable		58,435			58,435
Property, plant and equipment		3,598,286			3,561,734
Intangibles		3,615			3,917
Goodwill		312,461			312,356
Total non-current assets		3,972,797			3,936,442
Total assets	$	5,061,476		$	4,579,123
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	342,235		$	332,838
Income tax payable		183			4,060
Total current liabilities		342,418			336,898
Non-current liabilities:
Share based compensation (Note 7)		19,369			14,431
Provisions and other		17,132			17,836
Long-term debt (Note 3)		1,716,314			1,323,268
Deferred income taxes		497,519			487,347
Total non-current liabilities		2,250,334			1,842,882
Shareholders’ equity:
Shareholders’ capital (Note 5)		2,314,033			2,305,227
Contributed surplus		29,264			29,175
Retained earnings		147,719			88,416
Accumulated other comprehensive loss (Note 6)		(22,292	)		(23,475	)
Total shareholders’ equity		2,468,724			2,399,343
Total liabilities and shareholders’ equity	$	5,061,476		$	4,579,123

See accompanying notes to interim consolidated financial statements.

1

INTERIM CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (UNAUDITED)

	Three months ended June 30,						Six months ended June 30,
(Stated in thousands of Canadian dollars, except per share  amounts)	2014			2013			2014			2013
Revenue	$	475,174		$	378,898		$	1,147,423		$	974,618
Expenses:
Operating		304,285			258,769			699,438			600,607
General and administrative		41,194			31,881			81,016			70,582
Earnings before income taxes, finance charges, foreign exchange and depreciation and amortization		129,695			88,248			366,969			303,429
Depreciation and amortization (Note 2(c))		105,923			72,580			211,628			157,473
Operating earnings		23,772			15,668			155,341			145,956
Foreign exchange		(298	)		(5,015	)		(3,927	)		(8,309	)
Finance charges (Note 8)		25,562			23,950			49,994			46,509
Earnings (loss) before income taxes		(1,492	)		(3,267	)		109,274			107,756
Income taxes: (Note 4)
Current		204			2,455			5,648			20,550
Deferred		5,478			(6,195	)		9,243			(6,580	)
		5,682			(3,740	)		14,891			13,970
Net earnings (loss)	$	(7,174	)	$	473		$	94,383		$	93,786
Net earnings (loss) per share: (Note 9)
Basic	$	(0.02	)	$	0.00		$	0.32		$	0.34
Diluted	$	(0.02	)	$	0.00		$	0.32		$	0.33

See accompanying notes to interim consolidated financial statements.

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

	Three months ended June 30,						Six months ended June 30,
(Stated in thousands of Canadian dollars)	2014			2013			2014			2013
Net earnings (loss)	$	(7,174	)	$	473		$	94,383		$	93,786
Unrealized gain (loss) on translation of assets and liabilities of operations denominated in foreign currency		(64,952	)		55,755			5,383			87,875
Foreign exchange gain (loss) on net investment hedge with U.S. denominated debt, net of tax		39,585			(37,380	)		(4,200	)		(59,115	)
Comprehensive income (loss)	$	(32,541	)	$	18,848		$	95,566		$	122,546

See accompanying notes to interim consolidated financial statements.

2

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED)

	Three months ended June 30,						Six months ended June 30,
(Stated in thousands of Canadian dollars)	2014			2013			2014			2013
Cash provided by (used in):
Operations:
Net earnings (loss)	$	(7,174	)	$	473		$	94,383		$	93,786
Adjustments for:
Long-term compensation plans		8,480			4,240			18,791			10,757
Depreciation and amortization		105,923			72,580			211,628			157,473
Foreign exchange		2,080			(5,246	)		(2,309	)		(8,548	)
Finance charges		25,562			23,950			49,994			46,509
Income taxes		5,682			(3,740	)		14,891			13,970
Other		(3,427	)		224			(1,928	)		1,162
Income taxes paid		(3,838	)		(24,045	)		(12,869	)		(94,724	)
Income taxes recovered		3,342			1,960			3,354			1,960
Interest paid		(38,945	)		(36,787	)		(46,970	)		(44,280	)
Interest received		120			182			233			408
Funds provided by operations		97,805			33,791			329,198			178,473
Changes in non-cash working capital balances		130,607			148,554			69,341			66,820
		228,412			182,345			398,539			245,293
Investments:
Purchase of property, plant and equipment		(174,854	)		(136,237	)		(280,853	)		(266,842	)
Proceeds on sale of property, plant and equipment		9,979			4,148			17,236			6,686
Changes in non-cash working capital balances		16,612			(10,774	)		304			4,967
		(148,263	)		(142,863	)		(263,313	)		(255,189	)
Financing:
Increase in long-term debt		436,600			–			436,600			–
Repayment of long-term debt		(13,942	)		–			(30,670	)		–
Debt issue costs		(10,166	)		–			(10,166	)		–
Dividends paid		(17,553	)		(13,832	)		(35,080	)		(27,657	)
Issuance of common shares on the exercise of options		3,493			240			6,103			720
		398,432			(13,592	)		366,787			(26,937	)
Effect of exchange rate changes on cash and cash equivalents		(8,253	)		6,667			(6,126	)		11,459
Increase (decrease)  in cash and cash equivalents		470,328			32,557			495,887			(25,374	)
Cash and cash equivalents, beginning of period		106,165			94,837			80,606			152,768
Cash and cash equivalents, end of period	$	576,493		$	127,394		$	576,493		$	127,394

See accompanying notes to interim consolidated financial statements.

3

INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED)

(Stated in thousands of Canadian dollars)	Shareholders’ capital		Contributed surplus			Accumulated other comprehensive loss (Note 6)			Retained earnings			Total equity
Balance at January 1, 2014	$	2,305,227	$	29,175		$	(23,475	)	$	88,416		$	2,399,343
Net earnings for the period		–		–			–			94,383			94,383
Other comprehensive income for the period		–		–			1,183			–			1,183
Dividends		–		–			–			(35,080	)		(35,080	)
Share options exercised (Note 5)		8,806		(2,703	)		–			–			6,103
Share based compensation expense (Note 7)		–		2,792			–			–			2,792
Balance at June 30, 2014	$	2,314,033	$	29,264		$	(22,292	)	$	147,719		$	2,468,724

(Stated in thousands of Canadian dollars)	Shareholders’ capital		Contributed surplus			Accumulated other comprehensive loss			Retained earnings (deficit)			Total equity
Balance at January 1, 2013	$	2,251,982	$	24,474		$	(60,535	)	$	(44,621	)	$	2,171,300
Net earnings for the period		–		–			–			93,786			93,786
Other comprehensive income for the period		–		–			28,760			–			28,760
Dividends		–		–			–			(27,657	)		(27,657	)
Issued on redemption of non-management director DSUs		634		(598	)								36
Share options exercised		1,097		(377	)		–			–			720
Share based compensation expense (Note 7)		–		3,565			–			–			3,565
Balance at June 30, 2013	$	2,253,713	$	27,064		$	(31,775	)	$	21,508		$	2,270,510

See accompanying notes to interim consolidated financial statements.

4

NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Tabular amounts are stated in thousands of Canadian dollars except share numbers and per share amounts)

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 Suite 800, 525 - 8th Avenue S.W., Calgary, Alberta, Canada, T2P 1G1.

NOTE 2. BASIS OF PRESENTATION

(a) Statement of Compliance

These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting using accounting policies consistent with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and interpretations of the International Financial Reporting Interpretations Committee.The condensed consolidated interim financial statements do not include all of the information required for full annual financial statements and should be read in conjunction with the consolidated financial statements of the Corporation as at and for the year ended December 31, 2013.

These condensed consolidated interim financial statements were prepared using accounting policies and methods of their application consistent with those used in the preparation of the Corporation’s consolidated audited annual financial statements for the year ended December 31, 2013 except for the adoption of the following  new accounting standard. On January 1, 2014 Precision adopted IFRIC 21, Levies. The adoption of this standard had no material impact on the amounts recorded in these financial statements.

These condensed consolidated interim financial statements were approved by the Board of Directors on July 23, 2014.

(b) Seasonality

Precision has operations that are carried on in Canada which represent approximately 50% (2013 - 45%) of consolidated total assets as at June 30, 2014 and 46% (2013 - 50%) of consolidated revenue for the six months ended June 30, 2014. The ability to move heavy equipment in Canadian oil and natural gas fields is dependent on weather conditions. As warm weather returns in the spring, the winter's frost comes out of the ground rendering many secondary roads incapable of supporting the weight of heavy equipment until they have thoroughly dried out. The duration of this “spring break-up” has a direct impact on Precision’s activity levels. In addition, many exploration and production areas in northern Canada are accessible only in winter months when the ground is frozen hard enough to support equipment. The timing of freeze up and spring break-up affects the ability to move equipment in and out of these areas. As a result, late March through May is traditionally Precision’s slowest time in this region.

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(c) Change in Accounting Estimate

Effective January 1, 2014, the Company changed the method for depreciating its drilling and service rig equipment from unit-of-production to straight-line. Precision believes that due to technological developments within the industry, straight-line depreciation better reflects the allocation of the cost of the assets over their expected lives. A summary of the new depreciation method for drilling and service rig equipment is 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

For the six months ended June 30, 2014 the change in depreciation method resulted in $25.3 million of additional depreciation over what would have been expensed had the previous method been continued. The estimated additional depreciation expense for the year ending December 31, 2014 from this change is approximately $45 million.

NOTE 3. LONG-TERM DEBT

	June 30,			December 31,
	2014			2013
Secured revolving credit facility	$	–		$	29,781
Unsecured senior notes:
6.625% senior notes due 2020 (US$650 million)		693,940			691,340
6.5% senior notes due 2021 (US$400 million)		427,040			425,440
5.25% senior notes due 2024 (US$400 million)		427,040			–
6.5% senior notes due 2019		200,000			200,000
		1,748,020			1,346,561
Less net unamortized debt issue costs		(31,706	)		(23,293	)
	$	1,716,314		$	1,323,268

During June 2014, Precision issued US$400.0 million aggregate principal amount of 5.25% senior unsecured notes due 2024 (“5.25% 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, commencing on November 15, 2014.

The 5.25% Senior Notes due 2024 are unsecured, ranking equally with existing and future senior unsecured indebtedness, and have been guaranteed by current and future U.S. and Canadian subsidiaries that guaranteed the revolving credit facility. These notes contain certain covenants that limit Precision’s ability and the ability of certain subsidiaries to incur additional indebtedness and issue preferred stock; create liens; make restricted payments; create or permit to exist restrictions on the ability of Precision or certain subsidiaries to make certain payments and distributions; engage in amalgamations, mergers or consolidations; make certain dispositions and transfers of assets; and engage in transactions with affiliates. If the notes receive an investment grade rating by Standard & Poor’s or Moody’s Investors Service and Precision  and its subsidiaries are not in default under the indenture governing the notes, then Precision will not be required to comply with particular covenants contained in the indenture.

Prior to May 15, 2017, Precision may redeem up to 35% of the 5.25% Senior Notes due 2024 with the net proceeds of certain equity offerings at a redemption price equal to 105.25% of the principal amount plus accrued interest. 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 United States 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.

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In addition, Precision entered into an amendment to the credit agreement governing its secured revolving credit facility (the “Credit Agreement Amendment”). The Credit Agreement Amendment, among other things, will (i) voluntarily reduce the size of the revolving credit facility from US$850.0 million to US$650.0 million, (ii) extend the maturity from November 17, 2018 to June 3, 2019 and (iii) increase the maximum consolidated senior debt to EBITDA ratio from 3.0:1.0 to 3.5:1.0 for the first three fiscal quarters following a material acquisition that involves total consideration of more than 5% of Precision’s consolidated net tangible assets.

 Long-term debt obligations at June 30, 2014 will mature as follows:

2019	$	200,000
Thereafter		1,548,020
	$	1,748,020

NOTE 4. 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 is as follows:

	Three months ended June 30,						Six months ended June 30,
	2014			2013			2014			2013
Earnings (loss) before income taxes	$	(1,492	)	$	(3,267	)	$	109,274		$	107,756
Federal and provincial statutory rates		25	%		25	%		25	%		25	%
Tax at statutory rates	$	(373	)	$	(817	)	$	27,319		$	26,939
Adjusted for the effect of:
Non-deductible expenses		(411	)		352			1,277			2,079
Non-taxable capital gains		12			(32	)		(76	)		(61	)
Income taxed at lower rates		1,864			(1,132	)		(15,831	)		(12,569	)
Impact of foreign tax rates		1,758			992			(2,826	)		(881	)
Withholding taxes		1,319			234			2,036			1,089
Taxes related to prior years		–			5			–			5
Other		1,513			(3,342	)		2,992			(2,631	)
Income tax expense (recovery)	$	5,682		$	(3,740	)	$	14,891		$	13,970

NOTE 5. SHAREHOLDERS’ CAPITAL

	Number		Amount
Common shares
Balance December 31, 2013		291,979,671	$	2,305,227
Options exercised:
Cash consideration		693,290		6,103
Reclassification from contributed surplus		-		2,703
Balance June 30, 2014		292,672,961	$	2,314,033

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NOTE 6. ACCUMULATED OTHER COMPREHENSIVE LOSS

	Unrealized Foreign Currency Translation Gains		Foreign Exchange Loss on Net Investment Hedge			Accumulated Other Comprehensive  Loss
Balance, December 31, 2013	$	48,330	$	(71,805	)	$	(23,475	)
Other comprehensive income (loss)		5,383		(4,200	)		1,183
Balance, June 30, 2014	$	53,713	$	(76,005	)	$	(22,292	)

NOTE 7. SHARE BASED COMPENSATION PLANS

Liability Classified Plans

	Restricted Share Units(a)			Performance Share Units(a)			Share Appreciation Rights(b)			Non-Management Directors’ DSUs(c)		Total
Balance, December 31, 2013	$	13,538		$	12,962		$	246		$	1,854	$	28,600
Expensed during the period		11,301			11,039			501			1,482		24,323
Payments		(7,652	)		(4,234	)		(69	)		–		(11,955	)
Balance, June 30, 2014	$	17,187		$	19,767		$	678		$	3,336	$	40,968
Current	$	12,389		$	8,532		$	678		$	–	$	21,599
Long-term		4,798			11,235			–			3,336		19,369
	$	17,187		$	19,767		$	678		$	3,336	$	40,968

(a) Restricted Share Units and Performance Share Units

 A summary of the activity under the restricted share unit (RSUs) and the performance share unit (PSUs) plans are presented below:

	RSUs Outstanding			PSUs Outstanding
December 31, 2013		2,113,495			2,437,928
Granted		1,276,243			1,658,438
Issued as a result of cash dividends		23,667			33,512
Redeemed		(793,308	)		(429,630	)
Forfeitures		(147,354	)		(192,161	)
June 30, 2014		2,472,743			3,508,087

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(b) Share Appreciation Rights

A summary of the activity under the share appreciation rights plan is presented below:

	Outstanding			Range of Exercise Price (US$)		Weighted Average Exercise Price (US$)		Exercisable
December 31, 2013		588,162		$	9.26 – 17.38	$	14.71		588,162
Redeemed		(31,506	)		9.26 – 9.26		9.26
Forfeitures		(106,495	)		9.26 – 17.38		13.75
June 30, 2014		450,161		$	9.26 – 17.38	$	15.32		450,161

(c)  Non-Management Directors – Deferred Share Unit Plan

A summary of the activity under the non-management director deferred share unit plan is presented below:

	Outstanding
December 31, 2013		188,575
Granted		33,749
Issued as a result of cash dividends		1,861
June 30, 2014		224,185

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 upon an election by the non-management director to receive all or a portion of their 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 the activity under this share based incentive plan is presented below:

Deferred Share Units	Outstanding
December 31, 2013		221,112
Issued as a result of cash dividends		2,092
June 30, 2014		223,204

(e) Option Plan

A summary of the activity under the option plan is presented below:

Canadian share options	Outstanding			Range of Exercise Price		Weighted Average Exercise Price		Exercisable
December 31, 2013		4,900,886		$	5.22 – 14.50	$	9.14		2,676,865
Granted		881,700			10.15 – 14.31		10.24
Exercised		(457,531	)		5.85 – 11.16		8.22
Forfeitures		(36,000	)		5.85 – 10.67		9.02
June 30, 2014		5,289,055		$	5.22 – 14.50	$	9.40		3,265,462

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U.S. share options	Outstanding			Range of Exercise Price (US$)		Weighted Average Exercise Price (US$)		Exercisable
December 31, 2013		3,173,808		$	4.95 -15.21	$	9.32		1,438,335
Granted		827,300			9.18 – 9.18		9.18
Exercised		(235,759	)		4.95– 10.96		9.03
Forfeitures		(129,954	)		4.95 – 14.58		9.24
June 30, 2014		3,635,395		$	4.95 – 15.21	$	9.31		1,922,005

The per option weighted average fair value of the share options granted during 2014 was $3.17 estimated on the grant date using the Black-Scholes option pricing model with the following assumptions: average risk-free interest rate 1%, average expected life of four years, expected forfeiture rate of 5% and expected volatility of 46%. Included in net earnings for the three and six months ended June 30, 2014 is an expense of $1.4 million (2013 - $1.7 million) and $2.8 million (2013 - $3.6 million), respectively.

NOTE 8. FINANCE CHARGES

	Three months ended June 30						Six months ended June 30
	2014			2013			2014			2013
Interest:
Long-term debt	$	24,886		$	21,957		$	48,461		$	43,539
Other		77			1,047			275			1,114
Income		(217	)		(209	)		(308	)		(395	)
Amortization of debt issue costs		816			1,155			1,566			2,251
Finance charges	$	25,562		$	23,950		$	49,994		$	46,509

NOTE 9. PER SHARE AMOUNTS

The following tables reconcile the net earnings and weighted average shares outstanding used in computing basic and diluted earnings per share:

	Three months ended June 30,					Six months ended June 30,
	2014			2013		2014		2013
Net earnings (loss) - basic and diluted	$	(7,174	)	$	473	$	94,383	$	93,786
	Three months ended June 30,					Six months ended June 30,
(Stated in thousands)		2014			2013		2014		2013
Weighted average shares outstanding – basic		292,511			276,617		292,287		276,558
Effect of share warrants		–			9,425		–		9,486
Effect of stock options and other equity compensation plans		1,415			814		424		867
Weighted average shares outstanding – diluted		293,926			286,856		292,711		286,911

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NOTE 10. 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 manufacture, sale and repair of drilling equipment. Completion and Production Services includes service rigs, snubbing units, coil tubing services, oilfield equipment rental, camp and catering services, and wastewater treatment units.

Three months ended June 30, 2014	Contract Drilling Services		Completion and Production Services			Corporate and Other			Inter-Segment Eliminations			Total
Revenue	$	410,882	$	66,508		$	–		$	(2,216	)	$	475,174
Operating earnings		56,126		(6,296	)		(26,058	)		–			23,772
Depreciation and amortization		92,365		11,433			2,125			–			105,923
Total assets		3,861,317		571,838			628,321			–			5,061,476
Goodwill		200,322		112,139			–			–			312,461
Capital expenditures		168,063		4,756			2,035			–			174,854

Three months ended June 30, 2013	Contract Drilling Services		Completion and Production Services			Corporate and Other			Inter-Segment Eliminations			Total
Revenue	$	327,336	$	55,420		$	–		$	(3,858	)	$	378,898
Operating earnings		38,157		(4,780	)		(17,709	)		–			15,668
Depreciation and amortization		63,398		7,073			2,109			–			72,580
Total assets		3,615,165		555,556			199,957			–			4,370,678
Goodwill		199,891		112,139			–			–			312,030
Capital expenditures		113,336		21,758			1,143			–			136,237

Six months ended June 30, 2014	Contract Drilling Services		Completion and Production Services		Corporate and Other			Inter-Segment Eliminations			Total
Revenue	$	982,804	$	169,573	$	–		$	(4,954	)	$	1,147,423
Operating earnings		203,713		1,729		(50,101	)		–			155,341
Depreciation and amortization		184,476		22,861		4,291			–			211,628
Total assets		3,861,317		571,838		628,321			–			5,061,476
Goodwill		200,322		112,139		–			–			312,461
Capital expenditures		267,947		9,246		3,660			–			280,853

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Six months ended June 30, 2013	Contract Drilling Services		Completion and Production Services		Corporate and Other			Inter-Segment Eliminations			Total
Revenue	$	823,574	$	159,008	$	–		$	(7,964	)	$	974,618
Operating earnings		171,651		16,090		(41,785	)		–			145,956
Depreciation and amortization		137,109		16,318		4,046			–			157,473
Total assets		3,615,165		555,556		199,957			–			4,370,678
Goodwill		199,891		112,139		–			–			312,030
Capital expenditures		223,781		40,915		2,146			–			266,842

The Corporation’s operations are carried on in the following geographic locations:

Three months ended June 30, 2014	Canada		United States		International		Inter-Segment Eliminations			Total
Revenue	$	163,727	$	269,323	$	46,018	$	(3,894	)	$	475,174
Total assets		2,533,518		2,003,956		524,002		–			5,061,476

Three months ended June 30, 2013	Canada		United States		International		Inter-Segment Eliminations			Total
Revenue	$	129,282	$	222,744	$	29,237	$	(2,365	)	$	378,898
Total assets		1,958,740		2,013,593		398,345		–			4,370,678

Six months ended June 30, 2014	Canada		United States		International		Inter-Segment Eliminations			Total
Revenue	$	528,058	$	536,815	$	88,507	$	(5,957	)	$	1,147,423
Total assets		2,533,518		2,003,956		524,002		–			5,061,476

Six months ended June 30, 2013	Canada		United States		International		Inter-Segment Eliminations			Total
Revenue	$	489,803	$	434,784	$	53,440	$	(3,409	)	$	974,618
Total assets		1,958,740		2,013,593		398,345		–			4,370,678

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NOTE 11. FAIR VALUES OF FINANCIAL INSTRUMENTS

The carrying value of cash, accounts receivable, and accounts payable and accrued liabilities approximate their fair value due to the relatively short period to maturity of the instruments. The fair value of the unsecured senior notes at June 30, 2014 was approximately $1,846 million (December 31, 2013 - $1,403 million).

Financial assets and liabilities recorded or disclosed at fair value in the consolidated balance sheet are categorized based upon 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.

NOTE 12. ASSETS HELD FOR SALE

In June 2014, Precision entered into an agreement to sell certain assets from its trucking operations to a third party. The assets included in the sale consisted of trucks and other related assets all of which are used to support drilling rig moving operations in Texas and New Mexico. The transaction closed on July 1, 2014 with Precision receiving proceeds of US$24 million.

The assets were included in the contract drilling services segment and generated annual revenues of approximately US$30 million.

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SHAREHOLDER INFORMATION STOCK EXCHANGE LISTINGS Shares of Precision Drilling Corporation are listed on the Toronto Stock Exchange under the trading symbol PD and on the New York Stock Exchange under the trading symbol PDS. TRANSFER AGENT AND REGISTRAR Computershare Trust Company of Canada Calgary, Alberta TRANSFER POINT Computershare Trust Company NA Denver, Colorado Q2 2014 TRADING PROFILE Toronto (TSX: PD) High: $15.36 Low: $12.81 Close: $15.11 Volume Traded: 96,185,840 New York (NYSE: PDS) High: US$14.28 Low: US$11.67 Close: US$14.16 Volume Traded: 113,670,700 ACCOUNT QUESTIONS Precision’s Transfer Agent can help you with a variety of shareholder related services, including: • change of address • lost unit certificates • transfer of shares to another person • estate settlement Computershare Trust Company of Canada 100 University Avenue 9th Floor, North Tower Toronto, Ontario M5J 2Y1 Canada 1-800-564-6253 (toll free in Canada and the United States) 1-514-982-7555 (international direct dialing) Email: service@computershare.com ONLINE INFORMATION To receive news releases by email, or to view this interim report online, please visit Precision’s website at www.precisiondrilling.com and refer to the Investor Relations section. Additional information relating to Precision, including the Annual Information Form, Annual Report and Management Information Circular has been filed with SEDAR and is available at www.sedar.com. CORPORATE INFORMATION DIRECTORS William T. Donovan Brian J. Gibson Allen R. Hagerman, FCA Catherine J. Hughes Stephen J.J. Letwin Kevin O. Meyers Patrick M. Murray Kevin A. Neveu Robert L. Phillips OFFICERS Kevin A. Neveu President and Chief Executive Officer Joanne L. Alexander Senior Vice President, General Counsel and Corporate Secretary Niels Espeland President, International Operations Douglas B. Evasiuk Senior Vice President, Sales and Marketing Kenneth J. Haddad Senior Vice President, Business Development Robert J. McNally Executive Vice President and Chief Financial Officer Darren J. Ruhr Senior Vice President, Corporate Services Gene C. Stahl President, Drilling Operations Douglas J. Strong President, Completion and Production Services AUDITORS KPMG LLP Calgary, Alberta HEAD OFFICE Suite 800, 525-8th Avenue SW Calgary, Alberta, Canada T2P 1G1 Telephone: 403-716-4500 Facsimile: 403-264-0251 Email: info@precisiondrilling.com www.precisiondrilling.com

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