Precision Drilling Corp (TSE:PD) has released an update.
Precision Drilling Corp reported a decrease in first-quarter 2024 revenue to $528 million from last year’s $559 million, owing to reduced U.S. activity. Net earnings also fell to $37 million from $96 million in the previous year. Despite this, the company remains committed to reducing debt and returning a significant portion of free cash flow to shareholders, with operational improvements in Canadian drilling, international business, and completion and production services.
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