Precision Drilling profit rises on higher prices, rising demand
April 28 (Reuters) - Precision Drilling Corp , Canada's largest oil and gas drilling contractor, reported a 9 percent rise in first-quarter profit, helped by higher prices and strong drilling activity in North America and internationally.
The company's net profit rose to C$101.6 million ($92.1 million), or 35 Canadian cents per share, in the quarter ended March 31 from C$93.3 million, or 33 Canadian cents per share, a year earlier.
Revenue rose 13 percent to C$672.2 million. ($1 = 1.10 Canadian dollars) (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Joyjeet Das)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Probe: Athletes took fake classes at University of North Carolina
- Ottawa pushes for business as usual after shootings |
- Man arrested after jumping White House fence, causing lockdown
- U.S.-led air strikes killed 521 fighters, 32 civilians in Syria: monitor