Precision Drilling gains on four contracts in Kuwait

Precision Drilling(Calgary)

19/10/2022 16:02

** Canada-based Precision Drilling Corp's shares  PD.TO  up
5% at C$85
    ** PD bags four contracts for its AC Super Triple 3000 HP
rigs in Kuwait  urn:newsml:reuters.com:*:nGNXt55PH
    ** Each contract has a five-year term with an optional
one-year renewal
    ** Co says it increases its active rig count in Kuwait from
three rigs to five rigs by the middle of 2023
    ** Accounting for session gains, stock up 89% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))