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.

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.

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."

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

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.

Precision Drilling says it lost $3.5 million in its latest quarter compared with a loss of $30.6 million in the same quarter last year.

Eight energy companies, seven of which are based in Calgary, have been dropped from the Toronto Stock Exchange index. "It's been a very, very tough year," Precision Drilling president Kevin Neveu said.

Texas realtor Robert Graham says 15,000 brochures have been delivered in Alberta, Saskatchewan and British Columbia so far, enticing businesses with a `BOOMING'' economy, tax incentives and ranch-style properties. Another 50,000 brochures are coming.

Higher oil prices spurred by an attack on Saudi Arabian oil facilities boosted the Canadian energy sector on Monday but are expected to result in higher fuel prices for consumers.

Precision Drilling says it made a profit in its latest quarter, as Canadian oil companies with operations in the U.S. are earning more money south of the border.