Precision Drilling Shares Are Rocketing Today: What’s Going On?
Precision Drilling sees a surge in shares as Q4 results reveal C$506.9 million in revenues, driven by increased North American and international activity, with adjusted EBITDA hitting C$151.2 million. CEO Kevin Neveu outlines a bullish outlook, anticipating a 40% Y/Y increase in international rig count, driven by term contracts in Kuwait and Saudi Arabia. The company aims to reduce debt and allocate significant portions of free cash flow to share repurchases.
