April 5, 2019 / 3:15 PM / 8 months ago

BUZZ-Precision Drilling: Rises on snubbing asset sale

** Shares of Canadian rig contractor Precision Drilling up 4% at C$3.47

** Contract driller High Arctic Energy Services agrees to acquire co’s snubbing assets based in Canada

** HWO says purchase price of $8.25 mln will be settled in cash from cash on hand; says deal expected to close on April 15

** Twelve of 16 brokerages rate Precision’s stock as “buy” or higher, 3 “hold” and 1 “sell”; their median PT is C$4.30

** Including session’s gains, PD shares up 46% YTD (Reporting by Shradha Singh in Bengaluru)

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