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Precision Drilling trims 2025 capital budget because of market uncertainty | Globalnews.ca

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75% Informative

Chief executive Kevin Neveu says Precision expects to spend $200 million this year , a reduction of $25 million from its earlier forecast.

That includes an $8-million drop in upgrade spending that acted as a “placeholder” in Precision ’s budget for potential projects in its U.S. or international segments.

NeVEu says if either of those markets rebound this year Precision would consider ramping that spending back up — but only if financial returns and contract terms pass muster.

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English

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