{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
Markets
As of: {{timeStamp.date}}
{{timeStamp.time}}

Markets

{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}

Commodities Videos

VIDEO SIGN OUT

{{ currentStream.Name }}

{{ currentStream.Desc }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

Apr 26, 2018

Precision Drilling Q1 loss narrows as active rig count in U.S. grows

Precision Drilling

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Canadian rig contractor Precision Drilling Corp (PD.TO) reported a smaller quarterly loss on Thursday, helped by a 36-per-cent rise in the number of active rigs in the United States.

Revenue from rig utilization per day was up marginally to US$20,603 in the U.S., while it rose 3.8 per cent to $22,209 in Canada.

Precision Drilling's average rig count in the U.S. rose to 64 from 47 in the year-ago quarter. The company had 72 active rigs in Canada on average, down from 76 a year ago.

"As a result of increased demand in our U.S. operations, we are increasing our projected capital spending by $22 million," Precision Chief Executive Kevin Neveu said, adding that about half the addition would be used to expand and upgrade the drilling fleet.

Net loss narrowed to $18.1 million, or six cents per share, in the first quarter ended Mar. 31, from net loss of $22.6 million, or eight cents per share, a year earlier.

Revenue rose to $401 million from $368.7 million.