CALGARY - Shares in Precision Drilling Corp. jumped by as much as 16.6 per cent Thursday on the Toronto Stock Exchange after it reported strong operational results from its U.S. operations in the fourth quarter. Trainees roll pipe off the catwalk during a training session to lay down drill pipe on a rig floor at Precision Drilling in Nisku, Alta., on January 20, 2016. Precision Drilling Corp. reported a loss of $198.3 million in its fourth quarter as it was hit by $208 million in goodwill impairment charges. Precision reported fourth-quarter revenue of $427 million, up from $347 million in the same period of 2017, as drilling rig working days jumped 36 per cent in the U.S. and fell nine per cent in Canada. Article Continued BelowExcluding the impairment charge, the company said it would have had net earnings of $1 million for the quarter.

Source: thestar February 14, 2019 13:07 UTC