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

                             For October 14, 2004

                        Commission File Number: 001-14534


                         PRECISION DRILLING CORPORATION
             (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 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.



                                          PRECISION DRILLING CORPORATION



                                          Per: /s/ Jan M. Campbell
                                               ------------------------
                                               Jan M. Campbell
                                               Corporate Secretary


Date:  October 14, 2004




                                  NEWS RELEASE

         CALGARY, ALBERTA, CANADA - October 14, 2004

                         PRECISION DRILLING CORPORATION
             THIRD QUARTER 2004 EARNINGS CONFERENCE CALL AND WEBCAST

Precision Drilling Corporation ("Precision") intends to release its Third
Quarter 2004 results at approximately 5:00 a.m. MST (7:00 a.m. EST) on Thursday,
October 28, 2004 and has scheduled a conference call and webcast to begin
promptly at 12:00 Noon MST (2:00 p.m. EST) on the same day.

          THURSDAY, OCTOBER 28, 2004 AT 12:00 NOON MST (2:00 P.M. EST)
                CONFERENCE CALL DIAL IN NUMBER IS 1-800-814-4857

A live webcast of the conference call will be accessible on Precision's website
at WWW.PRECISIONDRILLING.COM by selecting "INVESTOR RELATIONS" then "WEBCAST".

An archived recording of the conference call will be available approximately one
hour after the completion of the call until November 4, 2004 by dialing
1-877-289-8525, passcode 21098120#

Precision Drilling Corporation (TSX: PD and PDU; NYSE: PDS) is a global oilfield
services company providing a broad range of drilling, production and evaluation
services with focus on fulfilling customer needs through fit-for-purpose
technologies for the maturing oilfields of the 21st century. With corporate
offices in Calgary, Alberta, Canada and corporate subsidiary offices in Houston,
Texas, and research facilities in the U.S. and Europe, Precision employs more
than 10,000 people conducting operations in more than 30 countries. Precision is
committed to providing efficient and safe services to create value for our
customers, our shareholders and our employees.

FOR FURTHER INFORMATION PLEASE CONTACT DALE E. TREMBLAY, SENIOR VICE PRESIDENT
FINANCE AND CHIEF FINANCIAL OFFICER, 4200, 150 - 6TH AVENUE S.W., CALGARY,
ALBERTA T2P 3Y7, TELEPHONE (403) 716-4500; FAX (403) 264-0251; WEBSITE:
WWW.PRECISIONDRILLING.COM