Two of Canada’s largest oil and gas drillers have agreed to combine in a deal worth about $1.03 billion, positioning them to have the third-largest contract drilling fleet in the United States. Continue reading
Oilpatch CEOs fear their costs will rise when the federal government passes recently introduced legislation to legalize recreational marijuana. Continue reading
One of Canada’s largest oil and gas drilling companies is seeing renewed demand for its services but at lower prices. Continue reading
Precision Drilling CEO Kevin Neveu said North American drilling budgets are starting to rise on oil price optimism, although much faster in the United States than in Canada. Continue reading
Precision Drilling Corp. says it plans to spend $109 million on capital expenditures in 2017, down from $213 million this year. Continue reading
Industry forecasts suggest that 2016 will be the worst year for drilling activity in almost four decades in Canada. Continue reading
Precision Drilling Corp.’s second-quarter loss nearly doubled to $58 million as revenue dropped 51 per cent from a year earlier. Continue reading
Calgary-based Precision Drilling Corp. reported a first-quarter loss of $14.5 million on Monday, after reporting a profit in the same period a year earlier. Continue reading
Precision Drilling Corp. says uses of its rigs was cut by more than half in Canada and the United States in the fourth quarter compared with a year earlier, resulting in less cash from operations and a bigger loss. Continue reading
With every layoff announcement, Albertans are feeling the impact of tanking oil prices. The number of job cuts is growing every week. Here’s a look at the layoffs confirmed so far. Continue reading