Precision Drilling posts smaller loss Precision Drilling posts smaller loss
Precision Drilling posts smaller loss
(Reuters) - Canadian rig contractor Precision Drilling Corp PD.TO on Friday reported a smaller third-quarter loss, helped by higher rig utilization and cost cuts.
Net loss narrowed to C$26.3 million ($20.4 million), or 9 Canadian cents per share, in the quarter ended Sept. 30, from C$47.4 million, or 16 Canadian cents per share.
Revenue rose to C$314.5 million from C$213.7 million.
(Reporting by Akshara P in Bengaluru; Editing by Savio D'Souza)