Opportunity arises in US hydraulic fracturing - Precision Drilling Corporation

4 months ago

Nugget Capital Partners

"PDS: Top-tier rig operator trading at discount despite highest quality equipment. Strong buybacks & debt reduction continuing. Bullish on 2024-25 price recovery from depressed US market, with 30-50% rate increase potential as LNG demand drives gas services. Nobody building new rigs = pricing power when demand returns. 3rd year of downtrend = contrarian opportunity."

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