Diskussionsforum der stw-boerse: Auslandswerte: Auslandsdepot: zu Precision Drilling (PDS)
mib - Freitag, 20. April 2001 - 18:35
gestern gab es Zahlen von Nabors Industries, der Nr. 1 bei den "drillers". Die Zahlen waren sehr gut (0.51 U$ gegenueber erwarteten 0.45 U$):

Das laesst auch fuer PDS auf sehr gute Zahlen schliessen (was das Unternhemen auch bereits angekuendigt hat). Der direkte Vergleich der Bewertungen von NBR und PDS spricht jedoch eindeutig fuer die Kanadier:

Kurs: 54.60 U$
EPS01: 2.21 U$ = PE: 24.7
EPS02: 3.36 U$ = PE: 16.3

Kurs: 38.10 U$
EPS01: 2.35 U$ = PE: 16.2
EPS02: 3.24 U$ = PE: 11.8

Die kanadische Precision Drilling, PDS, bleibt daher ein "strong buy agressive"!

Gruss - Mib

prof_b - Freitag, 20. April 2001 - 18:51
Da dürfte wohl dein Auslandsdepot bereits wieder die Radieschen von oben sehen. Sehr gute Leistung!

mib - Freitag, 20. April 2001 - 18:52
wo wir (na gut, ich) wieder beim Thema sind (bin):


mib - Freitag, 20. April 2001 - 18:56
"Precision Drilling reports improved first quarter outlook":


mib - Donnerstag, 26. April 2001 - 17:43
sehr gute Zahlen und Aussichten von Halliburton befluegelt die "drillers". Sehr gute Zahlen von Precision Drilling kann man wohl fest einplanen (kommen am 8. Mai, glaub ich).

aktuell von briefing.com:
10:02 ET Sector Watch: Oil Drillers : Early ramp in the oilfield drilling/services sector as companies continue to post blowout numbers. Among the companies reporting earnings were BJS (+5.8%), beat by 17%; MRL (+4.6%), exceeds by 8% and raises guidance; HAL (+8%), topped estimates by 9%.

mib - Donnerstag, 26. April 2001 - 19:13
PDS earnings am 9.Mai!

Gruss - Mib

mib - Mittwoch, 2. Mai 2001 - 16:48

Gestern nachmittag hat der "shoulder season blues" voll eingesetzt! "shoulder season" bezeichnet die Zeit im Fruehjahr, wenn die Heizungen abgesachaltet werden und die Klimaanlagen noch nicht angeschaltet sind. Daraus ergibt sich eine sinkende Nachfrage nach Strom und Oel, die genutzt wird, um die Vorratslager aufzufuellen. Die Zahlen (AGA und API) fuer die Menge an Oel und Gas, die in die Speicher gehen, steigt daher drastisch an. Als Folge davon sinken die Oel- und Erdgaspreise und dann auch die Aktienkurse in der Branche.
Dies ist eine Kaufgelegenheit fuer PDS !!!

Die Zahlen kommen am 9. Mai und werden mit sehr grosser Wahrscheinlichkeit exzellent sein!!!!

Gruss - Mib

mib - Donnerstag, 3. Mai 2001 - 02:15
PDS hat bei 37.35 U$ geschlossen und hat jetzt ein KGV01e von 14.8 und ein KGV02e von 11.0. Der Platzhirsch bei den driller, Nabors (NBR), dagegen 25.1 und 16.5.

PDS ist ein klarer Kauf, denn (wie bei MVK) ist ein Ende der Nachfrage nach contracxt drilling nicht absehbar und der Bedarf an drill rigs steigt weiter!

Gruss - Mib

mib - Freitag, 4. Mai 2001 - 18:43
heute "strong buy" von UBS Warburg

mib - Mittwoch, 9. Mai 2001 - 20:02
Precision Drilling mit sehr guten Zahlen!!!!
(Achtung: es handelt sich unten um CDN$!!!)

Wednesday May 9, 8:00 am Eastern Time

Press Release
SOURCE: Precision Drilling Corporation

Precision Drilling Corporation - First Quarter Results - March 31, 2001

CALGARY, May 9 /PRNewswire/ -Precision Drilling Corporation (``the Corporation'') is pleased to announce record results for the three months ended March 31, 2001. Revenue increased by 60% to $613.7 million and net earnings per share increased by 61% to $1.50 compared to $0.93 for the same period in the prior year. The momentum in activity levels that built in the fourth quarter of 2000 continued into 2001. The high demand for our equipment and services also translated into improved pricing in many of our business units.

Effective January 1, 2001 the Corporation changed its estimated salvage value on drilling and service rigs from Nil to 20%. The impact of this change was to reduce related depreciation expense in the three months ended March 31, 2001 by $3.7 million or $0.04 per share after tax.

This document contains forward-looking statements based upon current expectations that involve a number of business risks and uncertainties. The factors that could cause results to differ materially include, but are not limited to, national and regional economic conditions, oil and gas prices, weather conditions and the ability of oil and gas companies to raise capital or other unforeseen conditions which could impact on the use of services supplied by the Corporation.

A conference call to review the year-end results has been scheduled for 12:00 noon Calgary time on Wednesday, May 9, 2001. The conference call dial-in number is 1-888-881-4892.

Precision Drilling Corporation is listed on the Toronto Stock Exchange under the trading symbol PD and on the New York Stock Exchange under the trading symbol PDS.


CDN $000's, except per share amounts (unaudited) Three Months Ended
March 31
2001 2000

Revenue $ 613,655 $ 384,400

Operating 358,629 239,996
General and administrative 40,570 21,978
Depreciation 43,747 24,838
Research and engineering 7,471 3,741
450,417 290,553

Operating earnings 163,238 93,847

Interest 13,081 4,598
Gain on disposal of investments (599) -
Earnings before income taxes and goodwill
amortization 150,756 89,249
Income taxes:
Current 25,284 7,032
Future 35,432 32,644
60,716 39,676
Earnings before goodwill amortization 90,040 49,573

Amortization of goodwill, net of tax 7,950 4,282

Net earnings 82,090 45,291
Retained earnings, beginning of period 342,400 280,872
Adjustment on adoption of liability method
of accounting for income taxes - (70,032)

Retained earnings, end of period $ 424,490 $ 256,131
Earnings per share before goodwill amortization:
Basic $ 1.71 $ 1.05
Diluted $ 1.65 $ 1.02
Earnings per share:
Basic $ 1.56 $ 0.96
Diluted $ 1.50 $ 0.93

Common shares outstanding (000's) 52,905 47,755
Weighted average shares outstanding (000's) 52,589 47,347
Diluted shares outstanding (000's) 54,600 48,796


For the Three Months Ended March 31,
2001 2000
Market Market
Precision Industry Share % Precision Industry Share %

Number of drilling
rigs 230 613 37.6 210 580 36.3
Number of operating
days (spud to
release) 16,550 43,784 37.8 13,937 38,974 35.8
Wells drilled 2,138 5,381 39.8 1,592 4,699 33.9
Average days per well 7.7 8.1 8.8 8.3
Metres drilled (000's) 2,367 5,969 39.7 2,049 5,392 38.1
Average metres/day 143 136 147 138
Average metres/well 1,107 1,109 1,287 1,148
Rig utilization
rate (%) 80.2 80.1 72.8 74.1

(x) Source: CAODC reporting contractors and related DOB well statistics
on a rig release basis for well count and metres drilled.
Includes coiled tubing drilling rigs.


March 31 December 31
CDN $ 000's 2001 2000

Current assets:
Cash $ 14,897 $ 20,702
Accounts receivable 595,998 424,817
Income taxes recoverable - 2,050
Inventory 103,067 85,688
713,962 533,257

Property, plant and equipment, at cost less
accumulated depreciation 1,316,694 1,287,932
Goodwill, net of amortization of $68,788
(December 31, 2000 - $60,838) 566,290 550,502
Other assets 20,356 16,445
$ 2,617,302 $ 2,388,136

Liabilities and Shareholders' Equity

Current liabilities:
Bank indebtedness $ 182,747 $ 112,620
Accounts payable and accrued liabilities 275,633 227,548
Income taxes payable 18,948 -
Current portion of long-term debt 35,409 35,353
512,737 375,521

Long-term debt 505,871 548,096
Future income taxes 293,093 257,624

Shareholders' equity:
Share capital 881,111 864,495
Retained earnings 424,490 342,400
1,305,601 1,206,895

$ 2,617,302 $ 2,388,136


Three Months Ended
March 31
CDN $000's, except per share amounts (unaudited) 2001 2000

Cash provided by (used in):
Net earnings $ 82,090 $ 45,291
Items not affecting cash:
Depreciation 43,747 24,838
Amortization of goodwill 7,950 4,282
Future income taxes 35,432 32,644
Amortization of deferred financing costs 312 299
Gain on disposal of investments (599) -
Amortization and realization of deferred
foreign exchange 1,413 (206)

Funds provided by operations 170,345 107,148
Changes in non-cash working capital balances (119,191) (66,078)
51,154 41,070

Acquisitions (29,597) -
Purchase of property, plant and equipment (76,022) (29,757)
Proceeds on sale of property, plant and equipment 8,423 4,065
Investments - 347
Proceeds on disposal of investments 776 -
(96,420) (25,345)

Repayment of long-term debt (47,282) (4,005)
Issuance of common shares 14,246 14,014
Redemption of warrants 2,370 -
Change in bank indebtedness 70,127 (2,992)
39,461 7,017

Increase (decrease) in cash (5,805) 22,742
Cash, beginning of period 20,702 52,325

Cash, end of period $ 14,897 $ 75,067

Funds provided by operations per share:
Basic $ 3.24 $ 2.26
Diluted $ 3.12 $ 2.20


Three months ended March 31, 2001
CDN $000's (unaudited)
Contract Technology Rental and
Drilling Services Production Corporate
Group Group Group and Other Total
Revenue $ 357,685 $ 188,633 $ 67,337 $ - $ 613,655
Operating earnings 116,358 41,909 15,926 (10,955) 163,238
Research and
engineering - 7,471 - - 7,471
Depreciation 27,278 12,308 3,673 488 43,747
Assets 1,494,975 846,033 231,509 44,785 2,617,302
expenditures(x) 25,146 39,711 9,529 1,636 76,022

Three months ended March 31, 2000
CDN $000's (unaudited)
Contract Technology Rental and
Drilling Services Production Corporate
Group Group Group and Other Total

Revenue $ 231,294 $ 94,391 $ 58,715 $ - $ 384,400
Operating earnings 74,458 14,318 12,221 (7,150) 93,847
Research and
engineering - 3,741 - - 3,741
Depreciation 16,084 5,239 3,306 209 24,838
Assets 884,935 348,924 201,184 108,645 1,543,688
expenditures(x) 12,897 12,240 3,848 772 29,757
(x)excludes acquisitions

SOURCE: Precision Drilling Corporation

mib - Donnerstag, 10. Mai 2001 - 15:24
die Leute von Merrill Lynch vergeben wieder ihre hoechte Bewertung (NT buy / LT buy) und bekraefdtigen ihr Kursziel von 75 U$!


mib - Mittwoch, 8. August 2001 - 15:11
exzellente Zahlen von Precision Drilling:


KEINE Gewinnwarnung fuer den Rest des Jahres, sondern Erwartung von $3.70 bis $3.90 fuer das Gesamtjahr.

Achtung: die Zahlen sind CAN-$!!!

Gruss - Mib

mib - Donnerstag, 9. August 2001 - 16:03
Precision Drilling is no bit player

Analyst: Company is guilty by association

By Lisa Sanders, CBS.MarketWatch.com
Last Update: 3:01 AM ET Aug. 9, 2001

CALGARY (CBS.MW) - Investors may be suffering a case of fuzzy logic when it comes to Precision Drilling.

The Canadian oil service company, reported a profit Wednesday triple that of a year ago and said it expects full-year earnings to almost double that of 2000.

But despite the results and robust outlook, the stock's been driven down 32 percent this year.

Oil service companies, on the whole, have taken a drubbing as investors fret about declining natural gas prices by selling off the stocks. The Oil Service Index (OSX: news, chart, profile), a barometer of key oil service stocks, closed at a 2001 low of 80.83 on Wednesday.

"Precision is guilty by association," said Robert Ford, an oil service analyst at Sanders Morris Harris in Houston. Ford argues that investors are lumping the company in with its more troubled siblings, south of the border.

"The outlook for the U.S. land rig contractors is pretty uncertain due to the decline in natural gas prices and where they are going. So the Canadian oil field service companies have also been under pressure."

Adding to the gloom, the U.S. Energy Department released a report Wednesday projecting flat natural gas demand in 2001 compared to 5 percent growth in 2000. The 2001 estimate reflects the weakened U.S. economy, declining natural gas prices and the assumption of lower-than-normal demand for gas during the fourth quarter.

"Temperate weather through the end of the year combined with economic stagnation, along with gains in gas production could result in a collapse in prices," the agency reported.

The Energy Department did predict demand growth of 4.3 percent in 2002.

"Fourteen to 15 percent of the gas imported into the U.S. is from Canada, and there is concern about the outlook for the Canadian oilfield service companies," Ford said. "Precision is the most well known," and therefore, has suffered the most.

Big fleet

Precision, a land-based driller with some exposure to international markets in Argentina, Venezuela and Brazil, has a fleet of 240 drilling rigs and 250 service rigs. The company's current market cap is more than $1.4 billion and its 2000 revenue rang in at $903.8 million, a 90 percent increase from 1999. The company's net income grew 140 percent in 2000.

On Wednesday, Precision's U.S.-listed shares (PDS: news, chart, profile) lost 95 cents to close at $25.50, matching the 52-week low set on July 16. The shares (CA: PD: news, chart, profile) trading on the Toronto Stock Exchange closed down $1.41 to $39.10.

In the company's conference call Wednesday, an individual investor, who said he owned "a couple of thousand shares," voiced frustration with the company's stock price. Hank Swartout, Precision's chairman, president and chief executive, said the emergence of value players signals that the bottom is near.

"Next year looks very positive...and you'll see us grow," he answered. "At least the shares you have are in a company that is very concerned about shareholder value."

Earlier Wednesday, Precision posted a record second-quarter profit a penny better than analyst expectations. Revenue grew by 83 percent with 30 percent of the total coming from international activity. Swartout predicted solid revenue growth from international business.

"We worked hard in the second quarter to keep our numbers up," Swartout said.

Also, the company's technology services division, celebrating its second anniversary, posted a 158 percent increase in revenue.

"What's going on is that Canada is blowing and going, and these guys are the biggest in Canada," said Marshall Adkins, managing director of energy research at Raymond James in Houston. "That's what's fueling the majority of their earnings increase."

Moreover, Precision is beginning to be accepted as an alternative to other integrated service companies such as Baker Hughes and Halliburton, said Dale Tremblay, chief financial officer, in the conference call.

"We are beginning to recognize the benefits through our international expansion and diversification into other business lines," he said.

Also Wednesday, Precision predicted full-year earnings-per-share would be in a range of $2.50 to $2.60. See earnings release. The high end of the full-year forecast is three cents below the current average estimate of analysts polled by Thomson Financial/First Call. Swartout characterized the forecast as conservative, saying the company would rather issue moderate estimates and meet or beat them than fall short of expectations.

The company estimate is still close to double that of a year ago.

"That should give the investment community some more visibility into Canadian names vs. U.S. names," said Ford, who added that Precision is typically conservative in their estimates. "We've backed off U.S. names."

Lisa Sanders is a Dallas-based reporter for CBS.MarketWatch.com.

chinaman - Samstag, 17. November 2001 - 11:29
@ mib: Ich beginne mich ernsthaft für PDS zu interessieren. Wie ist Deine aktuelle Einschätzung der Aktie ? Wo liegt momentan die Konsensschätzung für EPS 01/02 ? Sind die Zahlen zum EPS 01 von 2,35 USD bzw. EPS 02 von 3,24 USD trotz Rückgang des Ölpeises noch gültig ? Wie wird sich die Nachfrage in der Winterjahreszeit entwickeln ?


chinaman - Samstag, 17. November 2001 - 16:27
Precision Announces Strong Third Quarter Results; Anticipates Decline in Fourth Quarter
November 01, 2001 08:00:00 AM ET
CALGARY, Nov. 01 /PRNewswire/ - Precision Drilling Corporation (the "Corporation" or "Precision") PD, PDS today reports solid third quarter earnings of $0.80 per share, and $2.84 per share for the nine months ended September 30, 2001. The earnings per share amounts represent year over year increases of 135% and 104%, respectively for the three and nine months ended September 30, 2001. Underpinning these results is the strength of the Contract Drilling Group (CDG) and the ongoing globalization of our Technology Services Group (TSG). Revenue increased by $64.1 million over the second quarter with nearly 60% of that amount flowing through to operating earnings, denoting the Corporation's tremendous operating leverage. The Corporation is expecting to establish a new annual earnings record in 2001, surpassing the previous mark established in April 1998 of $2.67 per share.
Precision has continued to successfully implement its global diversification strategy with 30% of total revenue for the third quarter being generated outside Canada compared to 20% in the comparable period of 2000. A substantial portion of this growth has come from the Corporation's joint venture integrated services project in the Burgos basin of northern Mexico, which is proceeding ahead of schedule.
Revenue for the third quarter of $474.0 million increased by $170.7 million or 56% over the third quarter of 2000. Of this increase, $91.1 million was from CDG and $73.0 million was from TSG representing 60% and 75% year over year increases, respectively. CDG benefited from increased pricing for its services and higher equipment utilization. In addition, the acquisition of CenAlta in October 2000 contributed to the improvement. These factors also contributed to strong flow through to the bottom line as operating earnings as a percentage of revenue increased to 31% from 25%.
The 75% rise in TSG revenue was fueled by its global expansion effort that encompassed many of its product lines. Operating earnings for the third quarter jumped by 102% from $6.9 million in 2000 to $14.0 million in 2001. This improvement is significant considering the fact that this segment is bearing the cost of building global distribution channels to deliver existing products and services as well as the research and engineering costs to develop its new technologies.
Revenue in the Rental and Production Group increased by $6.3 million or 11% with contributions from all business units in the segment. Operating earnings declined as a percentage of revenue from 18% to 14% as a result of the mix of work being performed in the industrial plant maintenance business being heavily weighted to the lower margin services.
However, not surprisingly, results for the fourth quarter of 2001 will be negatively impacted by the decline in commodity prices brought about by the slowing world economy. "Although the economy has paused in its growth cycle, we are still confident in and proud of the strategic direction of the company," said Hank Swartout, Chairman, President and CEO. "We have generated strong earnings to date, however this now needs to be balanced with the reality of the current market place, and reality is that the fourth quarter will not evolve as we previously anticipated" added Swartout. The uncertain future in the near to medium term has caused oil and gas producers to be cautious about committing to capital programs. Therefore drilling activity in North America is expected to be down. Canada is not experiencing the traditional build-up to the winter drilling season and the US rig count continues to fall. As a result, the Corporation's expectation for earnings for the year ended December 31, 2001 is now in the range of $3.55 to $3.60 per share.
The volatility of the energy industry is not unfamiliar to Precision's experienced management team and we are proud of our proven track record of financial success in any market environment. Looking forward to 2002, activity levels will be reduced from recent highs but are expected to be substantially ahead of historic averages. For instance, the forecast Canadian well count for 2002 is in the range of 13,600 to 15,500, which represents the fourth most active year in Canadian history, and is well in excess of the ten year average of 12,000. Given this activity level the Corporation still expects to generate sufficient cash flow to continue its strategic geographic and technological expansion plans while maintaining a strong balance sheet.
This document contains forward-looking statements based upon current expectations that involve a number of business risks and uncertainties. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Precision to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The factors that could cause results to differ materially include, but are not limited to: fluctuations in the market for oil and gas and related products and services; political, national and regional economic conditions in countries in which Precision does business; changes to planned income tax rate reductions; weather conditions; the ability of oil and gas companies to raise capital; the demand for services provided by Precision; Precision's ability to attract and retain key personnel or other unforeseen conditions which are described in further detail in Precision's filings with the Securities and Exchange Commission.

mib - Sonntag, 18. November 2001 - 21:41
PDS ist fuer mich ein "hold". Gibt es kene Einigung zwischen OPEc und non-OPEC ueber Oelfoerdermengen wird dewr Oelpreis kurzfristig weiter fallen und PDS wird wie die ganze Oil Service Branche nochmals deutlich billiger. Ich wuerde in der Branche im Moment AOG kaufen (die haben eigene Erdgas-storage und koennen das im Sommer eingelagerte Gas bald zu hoeheren Preisen verkaufen - und dran denken: der Erdgasmarkt ist was voellig anderes als der Erdoelmarkt!!!!!) oder PGO, da hier der anstehende Verkauf von "Atlantis" einen 20%igen Kursanstieg ausloesen koennte.
Ansonsten: DNR, XTO, KWK, TTI


chinaman - Montag, 19. November 2001 - 04:56
"Gibt es kene Einigung zwischen OPEc und non-OPEC ueber Oelfoerdermengen wird dewr Oelpreis kurzfristig weiter fallen und PDS wird wie die ganze Oil Service Branche nochmals deutlich billiger"
auf der anderen Seite:
"der Erdgasmarkt ist was voellig anderes als der Erdoelmarkt"

Wie krieg ich diese beiden Aussagen übereinander ? Ist das nicht ein Widerspruch ? Wäre für eine Erläuterung dankbar ! Danke auch für Deine aktualisierte Einschätzung zu PDS.


Diskussionsforum der stw-boerse: Auslandswerte: Auslandsdepot: zu Precision Drilling (PDS)
Eine Nachricht hinzufügen

Benutzername:   Dies ist ein privater Board-Bereich. Bitte geben Sie Ihre ID und Ihr Passwort an.