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March 24, 2014
06:10 EDTPDSPrecision Drilling announces new contract awards, CapEx plan update
Precision Drilling announced new international contract awards and an update on its 2014 capital expenditure plan, which is now $634M. In the Middle East, the company has signed a multi-year contract for a Super Triple new build ST-2000 drilling rig that will be delivered late in Q4 of this year. In Mexico, the company has signed multi-year contracts for a total of six drilling rigs, including re-contracting three existing 3,000 horsepower rigs working for a major integrated project management, or IPM, service provider and contracting, as part of a consortium, for three 1,000 horsepower rigs. The 2014 CapEx plan of $634M is an increase of $119M from the plan announced during the company's February 14, Q4 and year end press release. The updated 2014 plan includes $320M for expansion capital, $195M for sustaining and infrastructure expenditures, and $119M to upgrade existing rigs. The company expects that the $634M will be split $597M in the Contract Drilling segment and $37M in the Completion and Production Services segment.
News For PDS From The Last 14 Days
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October 27, 2014
15:00 EDTPDSPrecision Drilling says expects number of rigs to rise through 2015
Says recent oil price slide is "concerning," but doesn't expect a reduction in drilling near term. Says winter drilling season should be strong. Says will deliver around 3 rigs per month over next several quarters. Says "could not be more pleased" with current strategy. Comments from company's Q3 earnings conference call.
14:08 EDTPDSPrecision Drilling sees FY14 CapEx $908M, down from prior view of $934M
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06:06 EDTPDSPrecision Drilling raises Q4 dividend by 17% to 7c per share
The board of Precision Drilling has declared a dividend on its common shares of 7c per common share, a 17% increase over the prior quarter. The dividend is payable on November 24, to shareholders of record on November 14.
06:05 EDTPDSPrecision Drilling reports Q3 EPS 18c, consensus 17c
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