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Precision Drilling Corp (2)
Symbol PD
Shares Issued 14,067,270
Close 2024-11-29 C$ 88.74
Market Cap C$ 1,248,329,540
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Globe says Precision Drilling, rivals back on terms

2024-12-02 09:03 ET - In the News

Also In the News (C-AKT) Akita Drilling Ltd
Also In the News (C-ESI) Ensign Energy Services Inc

The Globe and Mail reports in its Saturday edition that energy drilling activity in Canada next year will be at its highest level in a decade, according to industry projections, but the sector is still seeking more regulatory and policy support from the federal government. The Globe's Emma Graney writes that the annual state of the industry report from the Canadian Association of Energy Contractors (CAOEC), released Friday, projects a 7.3-per-cent increase in the number of oil and gas wells being drilled in 2025, boosting the number of jobs by a similar level, to 41,800. "Hope is making a comeback in the oil patch," association chief Mark Scholz told CAOEC members at a luncheon in Calgary. Despite the optimistic outlook for drilling, Mr. Scholz said the sector is facing various headwinds, including Ottawa's proposed oil-and-gas emissions cap and the 25-per-cent tariff that U.S. president-elect Donald Trump has threatened to impose on imports. "We are simply not reaching our full potential as an industry or country," Mr. Scholz said. "We can do better, and we must do better." The federal government must reset its attitude to energy policy, he said, particularly when it comes to the oil and gas emissions cap.

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