Precision Drilling

• Precision Drilling reports Q3 profit, revenue up 69 per cent from year ago

  Precision Drilling Corp. reported a third-quarter profit of $30.7 million compared with a loss of $38 million a year ago as its revenue gained 69 per cent.

  Canada

  Oct 27, 2022
  
• Higher rig demand expected to continue as Precision Drilling boosts capital spending

  The Calgary-based company said it will spend $125 million as the current market momentum is expected to continue in anticipation of higher activity.

  Canada

  Apr 28, 2022
  
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• Calgary-based Precision Drilling says higher oil prices working to its benefit as business picks up

  Canada's largest drilling rig contractor says higher oil and gas prices are boosting business and increasing revenue by 46 per cent year over year for the quarter.

  Economy

  Feb 10, 2022
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• Precision Drilling Q3 revenue up more than 50% from year ago as drilling ramps up

  Precision, which is the nation's largest drilling rig contractor, says on average it had 51 active drilling rigs in Canada in the quarter, up from 18 in the same quarter last year.

  Money

  Oct 21, 2021
• Precision Drilling posts $75.9M loss in 2nd quarter despite better outlook

  Precision Drilling Corp. tripled its Canadian rig count in the second quarter, even as its net loss surged to $75.9 million because of compensation charges.

  Money

  Jul 22, 2021
• Precision Drilling second-quarter loss surges as pandemic weakens demand for oil

  The drilling company says it lost $48.9 million or 18 cents per share for the three months ended June 30, compared with a $13.8-million, five cents per share loss a year earlier.

  Jul 23, 2020
• Precision Drilling reports $5.3M Q1 loss, warns of drop in demand well into 2021

  Precision Drilling reported a loss in its first quarter and warned that it expected a significant and sustained drop in customer demand for oil and gas services well into next year as a result of the recent plunge in oil prices.

  Economy

  Apr 30, 2020
• Plunging oil prices point to ‘deep collapse’ in sector, drilling firm CEO warns

  The CEO of one of Canada's largest drilling rig contractors says plunging North American crude prices on Monday and Tuesday are signs that the oil industry is headed for a "deep, deep collapse."

  Apr 21, 2020
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• Precision Drilling moves to cut costs and capital spending plan in response to COVID-19

  Precision Drilling is reducing staff, cutting salaries and lowering its capital spending plan in response to the COVID-19 pandemic and current market conditions.

  Canada

  Mar 24, 2020
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• Alberta-based Precision Drilling shares jump on earnings beat, higher activity forecast

  Progress in getting oil export pipelines approved is boosting optimism in Western Canada's oilpatch, leading to more demand for rigs and hundreds of crew members being called back to work, the CEO of Precision Drilling Corp. said Thursday.

  Money

  Feb 13, 2020