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Precision Drilling's Quarterly Loss Narrows

October 24, 2019

© shane / Adobe Stock

Oilfield services company Precision Drilling's loss narrowed for the third-quarter, helped by higher drilling activity across North America, the Canadian company reported on Thursday.

Net loss narrowed to C$3.5 million ($2.68 million), or 1 Canadian cent per share, from C$30.6 million, or 10 Canadian cents a share, a year earlier.

Revenue fell about 2% to C$376 million


($1 = 1.3076 Canadian dollars)

(Reporting by Taru Jain; Editing by Vinay Dwivedi)

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