Feb 14 Precision Drilling Corp, Canada's
largest oil and gas drilling contractor, posted a fourth-quarter
loss, its first in nine quarters, as it recorded charges related
to decommissioning of some of its less-efficient rigs.
The company posted a net loss of C$116 million ($115.7
million), or 42 Canadian cents per share, compared with a profit
of C$28 million, or 10 Canadian cents per share, a year earlier.
Revenue rose 9 percent to C$534 million.
The company said in December it would record charges of
between C$180 million and C$200 million in the fourth quarter as
it decommissioned 52 lower-tier drilling rigs and exited the
Tier 3 contract drilling business.