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Precision Drilling Q3 Loss Widens

Precision Drilling Corp. (PD.TO) reported that its third-quarter net loss widened to C$31 million or $0.10 per share from net loss of C$26 million or $0.09 per share in the third quarter of 2017.

Revenue was C$382 million, an increase of 22% over the prior year comparative quarter.

Precision's President and CEO Kevin Neveu said, "During the third quarter Precision remained firmly on track to deliver on our three key priorities for 2018: enhancing financial performance through higher utilization and improved margins; generating free cash flow for reducing total debt levels; and commercializing advanced rig technologies.."

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