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Precision Drilling (TSX:PD) expects growth opportunities from upcoming LNG projects in the US
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Highlights
Precision Drilling Corporation (TSX: PD) is a North American oil and gas service provider. The company specializes in contract drilling, completion, and production services, primarily catering to oil and natural gas exploration and production firms in Canada.
In Q2 2024, the company's net revenue saw a modest increase to CAD 429.2 million, compared to CAD 425.6 million in the previous corresponding period (pcp). This slight growth was tempered by reduced activity in the U.S. market. Additionally, the company faced higher general and administrative expenses, which contributed to a decrease in operating incometo CAD 115.1 million from CAD 142.0 million in pcp.
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