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Company News

Precision Drilling Q1 loss narrows

April 26 (Reuters) - Canadian rig contractor Precision Drilling Corp on Thursday reported a smaller first-quarter loss, helped by greater U.S demand and higher day rates for the company’s rigs.

Net loss narrowed to C$18.1 million, or 6 Canadian cents per share, in the quarter ended Mar. 31, from net loss of C$22.6 million, or 8 Canadian cents per share, a year earlier.

Revenue rose to C$401 million from C$368.7 million. (Reporting by Karan Nagarkatti in Bengaluru; Editing by Shailesh Kuber)

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