CALGARY — The outlook for Canada's oil and gas industry heading into 2024 is 'exceedingly strong,' the CEO of Canada's largest drilling rig contracting company said Thursday. Kevin Neveu, CEO of Calgary-based Precision Drilling Corp.
CALGARY — The outlook for Canada's oil and gas industry heading into 2024 is"exceedingly strong," the CEO of Canada's largest drilling rig contracting company said Thursday.
"For Canada, these projects are absolute game-changers, resulting in significantly improved upstream commodity prices for our customers, de-bottlenecking production and providing global market access for Canadian energy," Neveu said on a conference call with analysts. The company said the profit amounted to $1.45 per diluted share for the quarter ended Sept. 30, down from $2.03 per diluted share in the same quarter last year.Precision Drilling says the 4.1-per-cent increase in revenue compared with a year ago was due to further strengthening of drilling and service revenue rates, partially offset by lower activity.
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