{"id":7352,"date":"2018-04-26T08:23:26","date_gmt":"2018-04-26T12:23:26","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=4b2958b8fbf3cd0e114bbe2dcdd77214"},"modified":"2018-04-26T08:23:26","modified_gmt":"2018-04-26T12:23:26","slug":"precision-drilling-reports-18m-q1-loss-increases-capital-spending-plan","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/26\/precision-drilling-reports-18m-q1-loss-increases-capital-spending-plan\/","title":{"rendered":"Precision Drilling reports $18M Q1 loss, increases capital spending plan"},"content":{"rendered":"<p>CALGARY &#8212; Precision Drilling Corp. says it lost nearly $18.1 million in its first quarter compared with a loss of $22.6 million in the same quarter a year earlier as revenue grew, boosted by its U.S. operations.<\/p>\n<p>Chief executive Kevin Neveu says as a result of increased demand in the U.S. the company is increasing its projected capital spending by $22 million.<\/p>\n<p>Approximately half of the increase in spending will be allocated to expansion and upgrades to our drilling fleet, with the remainder related to maintenance expenditures.<\/p>\n<p>The oilfield services company says the loss amounted to six cents per diluted share for the three months ended March 31 compared with a loss of eight cents per share a year earlier.<\/p>\n<p>Revenue totalled $401 million, up from $368.7 million, boosted by its U.S. contract drilling business.<\/p>\n<p>Precision says its drilling rig utilization days were up 38 per cent in the U.S., but fell five per cent in Canada.<\/p>\n<p>Companies in this story: (TSX:PD)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CALGARY &mdash; Precision Drilling Corp. says it lost nearly $18.1 million in its first quarter compared with a loss of $22.6 million in the same quarter a year earlier as revenue grew, boosted by its U.S. operations. Chief executive Kevin Neveu says as a result of increased demand in the U.S. the company is increasing [&hellip;]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/7352"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=7352"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/7352\/revisions"}],"predecessor-version":[{"id":7353,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/7352\/revisions\/7353"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=7352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=7352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=7352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}