PDS

[setliff]

excluding one time charges, PDS beats on eps and revs the way i see it.

eps w/o chg's are 36c. revs 387m. expectations were 34c and 355m.
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Precision Drilling Corporation Reports 2011 Fourth Quarter and Year End Financial Results

Press Release: Precision Drilling Corporation – 3 hours ago

PD.TO 11.32 0.00

CALGARY, ALBERTA--(Marketwire -02/09/12)- (Canadian dollars except as indicated)

This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release.

Effective January 1, 2011, Precision Drilling Corporation (TSX: PD.TO - News)(NYSE: PDS - News) ("Precision" or the "Corporation") began reporting its financial results in accordance with International Financial Reporting Standards ("IFRS"). Prior year comparative amounts have been changed to reflect results as if Precision had always prepared its financial results using IFRS.

Precision Drilling Corporation reported net earnings of $28 million or $0.10 per diluted share for the three months ended December 31, 2011 compared to a net loss of $0.3 million for the fourth quarter of 2010. Net earnings and net earnings per diluted share for the quarter include the impact of the previously disclosed charge associated with asset decommissioning, which decreased net earnings and net earnings per diluted share by $76 million and $0.26, respectively.

Revenue for the fourth quarter of 2011 was $587 million and earnings before income taxes, other items, loss on asset decommissioning and depreciation and amortization ("EBITDA") totalled $230 million compared to $436 million and $145 million, respectively, during the comparable period in 2010. The increase in revenue and EBITDA was the result of increases in pricing, margins, activity and new asset additions over the prior year period.




http://finance.yahoo.com/news/Precision ... 2.html?x=0

[rick]

Setliff,

I agree with you on PDS reving. PDS, UNT, PTEN, UDRL are all trading BELOW their LOW TARGET PRICE. Most are moving more into drilling for oil and liquids. IMO their prices were pushed down with natural gas prices and they are good value now. What do you think?

Rick

[dan_s]

PDS is a rock solid company.

Matt Denegre, one of our SMU MBA Student Interns, is now working on a new "Drillers Watch List". We will have 15 publicly traded onshore and offshore drillers on this new Watch List. IMO the group has a lot of upside. The market has oversold the low natural gas price fear. HP and PTEN both indicated that they see some decline in dry gas drilling but the rigs are moving to the liquids plays. Still a lot of demand for high quality rigs in the oily shale plays.

I am probably going to move HP and PTEN to the new Drillers Watch List and add two companies to the Sweet 16 that I believe are takeover targets.