Precision Drilling Corp. is expecting LNG export demand to drive robust investment in natural gas-directed drilling over the coming years in Canada and the United States, management said Thursday.


“The rebound of global energy demand and the impact of a multi-year period of underinvestment in upstream oil and natural gas has resulted in reduced inventories of oil and natural gas and higher commodity prices, providing a supportive outlook for the oilfield services industry,” Calgary-based Precision said upon releasing its fourth quarter and full-year 2022 results. 

“The war in Ukraine and sanctions on Russian hydrocarbons have exacerbated the challenged supply situation and many importing countries are looking toward North America and the Middle East to fill the supply gap...