Luke Lemoine's questions to Precision Drilling Corp (PDS) leadership • Q2 2024
Question
Luke Lemoine asked for more detail on the troughing of U.S. land activity and whether Precision's projected rig count increase is company-specific or indicative of a broader market trend. He also inquired about specific opportunities for lowering costs.
Answer
CEO Kevin Neveu clarified that a 3-4 rig increase for Precision is not a major market indicator, but he expects larger drillers to gain rigs from smaller players as E&P consolidation concludes. CFO Carey Ford added that cost-saving efforts are focused on optimizing repair and maintenance expenses, centralized purchasing, and third-party labor, with positive results already showing in Q2.