Our outlook for Precision is largely unchanged in that we believe the Company’s organic capital spending initiatives since 2009 have left it well positioned to compete in a North American oilfield services market that requires equipment that can efficiently drill horizontal wells. The Company has sufficient liquidity in the form of $445 mm of cash exiting 4Q15 and an undrawn US$550 mm credit facility. As such, it should be able to proactively manage its newly stated number one goal of deleveragi ....
12 Feb 2016
Outlook Unchanged
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Outlook Unchanged
Precision Drilling Corporation (PD:TSE) | 0 0 (-1.4%) | Mkt Cap: 1,237m
- Published:
12 Feb 2016 -
Author:
Ian B. Gillies -
Pages:
7
Our outlook for Precision is largely unchanged in that we believe the Company’s organic capital spending initiatives since 2009 have left it well positioned to compete in a North American oilfield services market that requires equipment that can efficiently drill horizontal wells. The Company has sufficient liquidity in the form of $445 mm of cash exiting 4Q15 and an undrawn US$550 mm credit facility. As such, it should be able to proactively manage its newly stated number one goal of deleveragi ....