Service & Supply | Oilfield Services | Financial Results | Capital Markets | Capital Expenditure
Precision Drilling Announces 2015 Capex and Rig Build
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Precision Drilling has announced fourth quarter 2014 results.
Revenue this quarter was $619 million or 9% higher than the fourth quarter of 2013, mainly due to higher drilling activity in the U.S., Canada and internationally along with higher average dayrates in the U.S. and internationally. Revenue from our Contract Drilling Services and Completion and Production Services segments both increased over the comparative prior year period by 10% and 5%, respectively.
Precision concluded 2014 with $857 million in capital expenditures, approximately $28 million lower than planned. Planned capital expenditures for 2015 are now $467 million and include capital expenditures from new-build announcements in 2014 that will be completed in 2015. Two new build rigs scheduled for customer delivery in 2015…
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