Trican shares drop as oil drilling dries up

Canadian oil drilling firm Trican Well Services' share price fell nearly 15 percent Wednesday after announcing it had recently cut 2,000 staff or 35 percent of its North American workforce. The company cited low oil prices for a sharp drop in revenues in its first quarter, which lead to a suspension of dividends to shareholders in order to preserve cash while the economic outlook remains weak. "Although demand (for drilling) was stable in January and early February, activity levels dec