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Precision Drilling reports $26.9 million profit in Q2 as company reduces debt

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Precision Drilling reverses from $25M loss reported during same period a year ago, reports $100M debt reduction since beginning of 2023.

Trainees roll pipe off a catwalk during a training session to lay down drill pipe on a rig floor at Precision Drilling in Nisku, Alta., on Friday, Jan. 20, 2016.Precision Drilling Corp. reported a second-quarter profit of $26.9 million, reversing a $24.6-million loss from a year earlier as the company says it has reduced its total debt by $100 million since the beginning of the year.

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