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Precision Drilling lowers capital spending plan, sells part of U.S. operation

2014-12-08 14:34:43| Oil & Gas - Topix.net

Precision Drilling Corp. says its 2014 capital spending plan has been reduced by another $23 million to $885 million while its capital spending plan for 2015 will be substantially lower than this year at $493 million - as it gears down plans for building new rigs until commodity prices improve. It's the second reduction in the Calgary-based company's 2014 capital spending plan in a matter of weeks, but still well above the $515 million capital plan outlined in February.

Tags: part plan capital operation

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