Precision Drilling Corp T.PD

Canada good for now, but US market blows.

[drunk@noon]

Dropping a rig a week there is seems. Down to 40 rigs. Always worry when the numbers used in companies and analysis estimate for 2024 differ so  much. Canada good for now, but LNG canada is a long ways off. They haven't even started plant ramp up, where the company forecasts a safe start up period of over a year. Have no idea why nat gas wieghted companies are rushing to bump production, as their will be a glut in the market for months before LNG starts making a difference. On the bright side, LNG will come eventually which will bring a stable $4 nat gas price to canada, which means drill drill drill.

[beenburntb4]

yup basically there are limited number of high spec rigs in canada (a lot went south in last 6 years) so aside from breakup the rig fleet will be much as last 2 years usa definately has permian pullback and other areas as the private and small oil companies are drilling of cash flows and big guys worried about divdends PD in usa will likley bottom at 36-40 rigs and slow recovery bright news is