Stampede Drilling Inc (TSE:SDI) has released an update.
Stampede Drilling Inc. reported a significant decrease in revenue and net loss in the second quarter of 2024, primarily due to fewer operating days and higher maintenance costs. However, the company maintains a positive outlook with 13 of its 19 rigs operating and expects increased drilling activity in Western Canada due to global demand and upcoming infrastructure projects. Stampede is also demonstrating prudent debt management and financial flexibility, including a share buyback program under its NCIB.
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