Cathedral Energy Services and Precision Drilling Announce Business Transaction, Strategic Alliance and Newly Appointed Board Member [Financial Post (Toronto, Ontario, Canada)]
Precision Drilling Corporation (PDS)
Last precision drilling corporation earnings: 4/30 06:00 am
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US:NYSE Investor Relations:
precisiondrilling.com/investor-relations/default.aspx
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Source: Financial Post
CALGARY, Alberta, July 23, 2021 (GLOBE NEWSWIRE) — Cathedral Energy Services Ltd. (TSX:CET) (“Cathedral”) and Precision Drilling Corporation (TSX: PD, NYSE: PDS) (“Precision”) are pleased to announce the closing of Cathedral's acquisition of Precision's directional drilling business (the “Transaction”) for a purchase price of $6,350,000. The Transaction includes operating assets and personnel of Precision's directional drilling business (including its operations facility in Nisku, Alberta), along with an additional $3 million cash investment by Precision to support growth and expansion of Cathedral, including continuing the buildout of RapidFire TM measurement-while-drilling guidance systems and nDurance TM drilling motors. Additionally, the Transaction is expected to enhance margins as expenses related to rental equipment used by Precision are replaced with proprietary Cathedral tools. As part of the Transaction, Cathedral and Precision have entered into a strategic marketing alli
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PDS
Earnings
- 4/25/24 - Beat
PDS
Sec Filings
- 4/25/24 - Form 6-K
- 4/3/24 - Form 6-K
- 4/3/24 - Form 6-K
- PDS's page on the SEC website