PDS Looks To Move Sideways For Now
Precision Drilling Corporation (PDS) provides oil and natural gas drilling and related services and products. As the upstream customers restrain their 2019 capex budget, I do not expect PDS’s stock price to show positive momentum in the short-term. However, if day rates improve on the more advanced rigs, where the company’s current focus is, the stock can be a good investment over the medium to long term.
Precision Drilling is giving considerable emphasis to servicing the U.S. unconventional shales, particularly in the Permian, as the large