Precision Drilling Trust Company News

Recent Articles

Results 27 articles shown

Precision Drilling Sees 30% Revenue Increase in 1Q
Precision Drilling reported a 30% revenue increase and a 28% rise in earnings before interest, taxes, loss on asset decommissioning, depreciation and amortization and foreign exchange for the first quarter of 2010 over the fourth quarter of 2009.
8:00 PM EST | April 21, 2010
Precision Boosts Revenue 13% from Third Quarter '09
Precision Drilling Trust reported revenue of $286 million for the fourth quarter of 2009, an increase of 13% over the third quarter of 2009.
7:00 PM EST | February 11, 2010
Precision Drilling Trust to Convert to Corporation
Precision Drilling Trust intends to convert to a growth-oriented corporation pursuant to a plan of arrangement under the Business Corporations Act (Alberta).
7:00 PM EST | February 11, 2010
Precision Drilling Trust Unveils Capital Expenditures for 2010
Precision Drilling Trust has revealed its planned capital expenditures for 2010 of approximately $75 million. This includes $50 million in sustaining upgrade and infrastructure expenditures.
7:00 PM EST | December 15, 2009
Precision Drilling Trust Records Lower Profits for 3Q
Precision Drilling Trust reported revenue of $253 million for the third quarter of 2009, an 11% decrease from the third quarter of 2008.
8:00 PM EST | October 21, 2009
Precision Drilling Trust Posts 2Q Financial Results
Precision Drilling Trust reported a 51% revenue increase and a 67% rise in earnings for the second quarter of 2009 over the second quarter of 2008.
8:00 PM EST | July 21, 2009
Precision Drilling Trust Performs Well in Q1 2009, Earnings Rise by 15%
Precision Drilling Trust reported a 31% revenue increase and a 15% rise in earnings for the first quarter of 2009 over the same quarter of 2008.
8:00 PM EST | April 21, 2009
Precision Postpones Senior Notes Offering on Market Conditions
Precision Drilling has postponed its offering of $250 million principal amount of senior notes due 2015 due to currently unfavorable market conditions.
7:00 PM EST | February 18, 2009
Precision Closes $172.5MM Public Offering
Precision Drilling Trust closed its offering of 46,000,000 trust units at a price of $3.75 per Trust Unit for aggregate gross proceeds of $172.5 million.
7:00 PM EST | February 17, 2009
Precision Posts Financial Results, Suspends Monthly Cash Distributions
Precision Drilling Trust reported net earnings of $92 million or $0.71 per diluted unit for the quarter ended December 31, 2008, compared to $89 million or $0.71 per diluted unit in the fourth quarter of 2007.
7:00 PM EST | February 08, 2009
Precision to Offer $250MM of Senior Notes Due 2015
Precision Drilling Corporation intends to offer approximately $250 million aggregate principal amount of senior notes due 2015 pursuant to a private placement.
7:00 PM EST | February 08, 2009
Precision Drilling Appoints 3 Additional Directors to Board
Precision has appointed an additional three directors to the Board of Directors of Precision Drilling Corporation.
7:00 PM EST | January 13, 2009
Precision Drilling Completes Grey Wolf Acquisition
Precision Drilling Trust announced that its acquisition of Grey Wolf, Inc. was successfully completed following approval of the merger transaction by Grey Wolf shareholders at Grey Wolf's special meeting of shareholders.
7:00 PM EST | December 23, 2008
Precision, Grey Wolf Set Merger Consideration Election Deadline
Precision Drilling Trust and Grey Wolf have announced the deadline for merger consideration elections in connection with Precision's proposed acquisition of Grey Wolf.
7:00 PM EST | December 15, 2008
Precision Drilling Earnings Up 10%, Resolved to Acquire Grey Wolf
Precision has reported net earnings of $82 million for the quarter ended September 30, 2008, an increase of $10 million or 13% compared to $73 million in the third quarter of 2007.
8:00 PM EST | October 22, 2008
Government Grants Early Termination of HSR for Grey Wolf, Precision
Precision and Grey Wolf announced that the Federal Trade Commission has completed its review of the proposed acquisition by Precision of Grey Wolf and has granted early termination of the HSR waiting period.
8:00 PM EST | September 29, 2008
Precision Snares Grey Wolf in Strategic Merger for Both Companies
Precision Drilling Trust and Grey Wolf, Inc. have announced that their Board of Trustees and Board of Directors, respectively, unanimously approved a definitive merger agreement pursuant to which Precision will acquire Grey Wolf.
8:00 PM EST | August 24, 2008
Precision Drilling Trust's Board Approves Cash Distribution
Precision Drilling Trust announced that the Board of Trustees has approved a cash distribution for the month of August 2008 of $0.13 per trust unit of Precision.
8:00 PM EST | August 19, 2008
Precision Drilling Provides Second Quarter Results
Precision Drilling Trust reported net earnings of $22 million or $0.17 per diluted unit for the quarter ended June 30, 2008, a decrease of $4 million or 15% compared to $26 million or $0.20 per diluted unit in the second quarter of 2007.
8:00 PM EST | July 22, 2008
Precision Drilling Bags RWS Service Rigs
Precision Drilling entered into an agreement on July 18, 2008 to acquire six service rigs and related equipment from Rick's Well Servicing. RWS is a privately owned company based in Virden, Manitoba.
8:00 PM EST | July 21, 2008
Precision to Reapproach Grey Wolf
Precision will immediately reapproach the board of directors of Grey Wolf with its June 24, 2008 US$10.00 per share proposal if the merger agreement with Basic Energy is terminated.
8:00 PM EST | July 09, 2008
Precision Offers $10 per Share for Grey Wolf
Precision has confirmed that it has provided Grey Wolf with a final business combination proposal for US $10.00 per Grey Wolf share. Precision hopes that shareholders of Grey Wolf opt for Precision over competing firm Basic Energy Services.
8:00 PM EST | June 24, 2008
Grey Wolf Receives Third Unsolicited Proposal from Precision
Grey Wolf has received a third unsolicited proposal to acquire Grey Wolf. Precision's third proposal is to acquire all of Grey Wolf’s common stock for a consideration of US$10.00 per share. Precision's board announces that this is their final offer.
8:00 PM EST | June 24, 2008
Precision Drilling Trust February 2008 Distribution
Precision Drilling Trust reported that the Board of Trustees has approved a cash distribution for the month of February 2008 of $0.13 per trust unit of Precision.
7:00 PM EST | February 18, 2008
Precision Drilling Trust Declares January 2008 Distribution
Precision Drilling Trust reported that the Board of Trustees has approved a cash distribution for the month of January 2008 of CD$0.13 per trust unit of Precision.
7:00 PM EST | January 20, 2008
Low Oil, Gas Prices Affect Canada's Drilling Companies
The consequences of higher costs and lower commodity prices are trickling down to Canada's oil and natural-gas service companies.
8:00 PM EST | September 26, 2006
Precision Drilling Trust Reports Record First Quarter Results
Precision Drilling Trust reports record results for the first quarter ended March 31, 2006 from its continuing operations in Canada and the first full reporting quarter as an income trust.
8:00 PM EST | April 25, 2006