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Precision Drilling Q1 profit plunges 76%, revenue declines 24% from last year

2015-04-27 14:21:15| Oil & Gas - Topix.net

Precision Drilling Corp. says North American demand for land drilling services in the first months of 2015 failed to meet "even the most pessimistic forecasts" as its customers looked for ways to reduce spending. Precision Drilling chief executive Kevin Neveu says industry activity in Canada during this year's spring breakup is 53 per cent below 2014 levels and in the United States activity is less than half the peak activity in November.

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