Revenue for the quarter was $429.2 million, up from $425.6 million during the same quarter last year.
Trainees are directed while training to lay down drill pipe on a rig floor, at Precision Drilling in Nisku, Alta., on January 20, 2016. Precision Drilling Corp. says its earnings for the second quarter declined 23 per cent year-over-year to $20.7 million, down from $26.9 million.
The company says its revenue results reflect higher activity and pricing in both Canada and internationally, which helped to more than offset lower results in the U.S. For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.President and CEO Kevin Neveu says the company expects its Canadian and international revenue to continue growing through 2025.
Neveu says the Trans Mountain pipeline expansion is driving higher and more stable returns for producers, and the imminent start-up of LNG Canada is expected to “improve and stabilize natural gas pricing.”Manufacturing boom keeps Canada’s economy growing in May: StatCan
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