We have reviewed Precision’s rig fleet post its asset retirement at year-end 2015, it depicts a more competitive rig fleet for today’s operating environment. Importantly, we believe the ROCE in upcoming years will be improved as the drag of legacy assets has been removed from the balance sheet. In Canada, we believe Precision is the market leader for pad drilling as it has 63% market share for our sample of companies. The U.S. fleet now has 69% of its drilling rigs using AC power systems and 48% ....
14 Mar 2016
An Updated View of the Rig Fleet and per Share Value potential at Various Rig Counts
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An Updated View of the Rig Fleet and per Share Value potential at Various Rig Counts
Precision Drilling Corporation (PD:TSE) | 0 0 (-1.4%) | Mkt Cap: 1,237m
- Published:
14 Mar 2016 -
Author:
Ian B. Gillies -
Pages:
11
We have reviewed Precision’s rig fleet post its asset retirement at year-end 2015, it depicts a more competitive rig fleet for today’s operating environment. Importantly, we believe the ROCE in upcoming years will be improved as the drag of legacy assets has been removed from the balance sheet. In Canada, we believe Precision is the market leader for pad drilling as it has 63% market share for our sample of companies. The U.S. fleet now has 69% of its drilling rigs using AC power systems and 48% ....