UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
Pursuant
to Section 13a-16 or 15d-16 of the
Securities
Exchange Act of 1934
August
18, 2006
Commission
File Number: 001-14534
Precision
Drilling Trust
(Exact
name of registrant as specified in its charter)
4200,
150 - 6th Avenue S.W.
Calgary,
Alberta
Canada
T2P 3Y7
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form
20-F
___ Form
40-F X
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1).
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form
6-K
if submitted solely to provide an attached annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form
6-K
if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction
in which the registrant is incorporated, domiciled or legally organized (the
registrant's "home country"), or under the rules of the home country exchange
on
which the registrant's securities are traded, as long as the report or other
document is not a press release, is not required to be and has not been
distributed to the registrant's security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
____ No
X
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- N/A
Pursuant
to the requirements of Section 12 of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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PRECISION
DRILLING TRUST
By its Administrator PRECISION DRILLING
CORPORATION
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| Dated: August 18, 2006 | By: | /s/ Darren Ruhr |
|
Name: Darren Ruhr |
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| Title: Corporate Secretary | ||
| Exhibit | Title |
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1
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PRESS
RELEASE - PRECISION DRILLING TRUST CLOSES ACQUISITION OF
OILFIELD CAMP
WASTEWATER TREATMENT
BUSINESS
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 |
 |
NEWS
RELEASE
PRECISION
DRILLING TRUST CLOSES ACQUISITION
OF
OILFIELD CAMP WASTEWATER TREATMENT BUSINESS
Calgary,
Alberta, Canada - August 18, 2006
Precision
Drilling Trust (“Precision” or the “Trust”) announced today the closing of the
acquisition of Terra Water Group Ltd. (“Terra Water”), a privately owned
wastewater treatment business suited for oilfield camps and wellsite
accommodation units. Terra Water will operate as a separate business unit
within
Precision’s Completion and Production segment. Terra Water is an Alberta based
company that operates 40 wastewater treatment units for the traditional drilling
rig camp market in western Canada. The cash purchase price was funded from
existing working capital and available credit facilities.
“The
acquisition represents a nice tuck-in service to Precision’s existing camp and
wellsite unit rental businesses and will serve to further strengthen our
diverse
product offerings. Terra Water has quickly established itself as a leader
in its
market and we welcome the management and employees of Terra Water to the
Precision family”, stated Gene Stahl, President and Chief Operating Officer for
Precision Drilling Corporation, Administrator of the Trust.
Precision
Drilling Trust is Canada’s largest energy services trust. Headquartered in
Calgary, Alberta, Precision is the leading provider of energy services to
the
Canadian oil and gas industry. Precision provides customers with access to
an
extensive fleet of contract drilling rigs, service rigs, camps, snubbing
units,
wastewater treatment units and rental equipment backed by a comprehensive
mix of
technical support services and skilled, experienced personnel.
Precision
is listed on the Toronto Stock Exchange under the trading symbol “PD.UN” and in
U.S. dollars “PD.U” and on the New York Stock Exchange under the trading symbol
“PDS”.
For
further information please contact Gene Stahl, President and Chief Operating
Officer of Precision Drilling Corporation, Administrator of Precision Drilling
Trust, 4200, 150 - 6th Avenue S.W., Calgary, Alberta T2P 3Y7, Telephone (403)
716-4500, Fax (403) 264-0251; website: www.precisiondrilling.com.
4200,
150
- 6th Avenue S.W.
Calgary,
Alberta, Canada T2P 3Y7
Telephone:
403.716.4500
Facsimile:
403.264.0251
www.precisiondrilling.com