Precision Drilling adds new revenue generating avenues
Precision Drilling Corporation (PDS) provides oil and natural gas drilling and related services and products. At the end of 2018, PDS had a fleet of 257 land rigs and 210 service rigs deployed globally. In the near-term, I do not expect PDS’s stock price to show positive momentum due to the upstream customers’ E&P capex budget constraints. However, with improving day rates on the more advanced rigs, PDS can be a good investment over the medium-to-long term.
In 2018, Precision Drilling upgraded 31 rigs in the