Precision Drilling reports fourth-quarter loss, revenue up 46% from year ago

Precision Drilling Corp. says it lost $27.3 million in the fourth quarter of 2021 compared with a loss of $37.5 million a year earlier as its revenue rose 46 per cent. The company says the loss for the quarter ended Dec. 31 was $2.05 per diluted share compared with a loss of $2.74 per diluted share in the fourth quarter of 2020. Revenue totalled $295.2 million, up from $201.7 million a year earlier. The company says the increase in revenue for the quarter was a result of increased drilling and s