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PDS

Precision Drilling

$0.28 /

-0.0429 (-13.12%)

06:06
03/24/20
03/24
06:06
03/24/20
06:06

Precision Drilling announces fixed cost reductions

Precision is taking measures to enhance free cash flow by reducing fixed operating overhead and G&A costs throughout the organization, including:CEO salary reduction of 20%; Board of Director compensation reductions of 20%; Executive officer salary reductions of 10%; Staff headcount and salary reductions; Elimination of all non-essential travel, entertaining and other discretionary spending. "We expect these fixed cost reduction measures will reduce annualized fixed costs by over 30%, including up to a $30 million reduction in G&A expense."

PDS Precision Drilling
$0.28 /

-0.0429 (-13.12%)

03/19/20 Wolfe Research
Precision Drilling downgraded to Underperform from Peer Perform at Wolfe Research
03/16/20 Morgan Stanley
Precision Drilling downgraded to Equal Weight from Overweight at Morgan Stanley
03/11/20 Tudor Pickering
Precision Drilling downgraded to Hold from Buy at Tudor Pickering
03/09/20 Scotiabank
Precision Drilling downgraded to Underperform from Sector Perform at Scotiabank

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