Precision Drilling earns $20M in 2nd quarter

Precision Drilling Corp. says its net for nan 2nd 4th declined 23 per cent year-over-year to $20.7 million, down from $26.9 million.

Revenue for nan 4th was $429.2 million, up from $425.6 cardinal during nan aforesaid 4th past year.

The institution says its gross results bespeak higher activity and pricing successful some Canada and internationally, which helped to much than offset little results successful nan U.S.

Earnings per diluted stock were $1.44, down from $1.63 past year.

President and CEO Kevin Neveu says nan institution expects its Canadian and world gross to proceed increasing done 2025.

Neveu says nan Trans Mountain pipeline description is driving higher and much unchangeable returns for producers, and nan imminent start-up of LNG Canada is expected to “improve and stabilize earthy state pricing.”

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