Precision Drilling: Oilfield Activity In Canada Appears Resilient, So Far
Source: SeekingAlpha
2025-05-27 13:00:53 ET
Summary
- Oil drilling activity in the U.S. will be cut back due to low prices.
- However, drilling in Canada is robust due to structural factors, at least for now.
- Precision Drilling gets 2/3 of its revenue from Canada and may weather the downturn better than its U.S. focused competitors.
- Precision Drilling also has exposure to the natural gas basins in the U.S. which may see stronger activity if low oil prices reduce associated gas growth.
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Precision Drilling: Oilfield Activity In Canada Appears Resilient, So Far
Patterson-UTI Energy Inc.
NASDAQ: PTEN
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