Commodities
Precision Drilling Extends Buyback, Eyes LNG Export Boom
Precision Drilling, a Calgary-based rig contractor, has announced that it will continue its stock buyback program for another year. The company claims to be the #2 drilling company-for-hire in the Marcellus region.
The interesting part of the announcement lies not in the buyback itself, but rather in the investor presentation Precision put out this month. In this presentation, the company outlines its optimism about gas drilling for LNG exports and predicts that the price of renting a rig will rise.