Precision Drilling Leans On Technological Upgrades To Beat The Challenges

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About: Precision Drilling Corporation (PDS)
by: Badsha Chowdhury
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Badsha Chowdhury
Value, long/short equity, research analyst, oil & gas
Summary

Day rates in the U.S. remain competitive, but PDS’s advanced rigs are likely to see margin improving.

Commercialization of the Process Automation Control-related apps will increase revenue generation potential.

Its performance in Canada has improved in Q3, although the medium-term outlook continues to be weak there.

The company is reducing debt, but its balance sheet is stillleveraged.

PDS Is Still On A Soft Ground

Precision Drilling Corporation (PDS) provides oil and natural gas drilling and related services and products. I think the company’s increased free cash flow and lower debt