Way oversold This is way oversold, so I'm in at 9.51. I worked for PD until August of last year. I know they've been busy as hell all winter. I still work in the patch for a directional company and I know it hasn't been easy to get a rig this winter. The only reason some of the drillers are taking a hit is residual damage from natural gas prices tanking. There is still tons of drilling taking place, so there is now reason for this share price. Heavily undervalued here, tax issues sorted out last quater and more rig contracts projected for this quarter compared to 12 months previous.
Just reach 600 rigs drilling in wester canada today. avergaging around 500 all winter, up 100 from last winter. https://www.caodc.ca/statistics/rigcounts-drilling_weekly.html