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CanElson reduces its 2015 Capital Program by 80%


Published Jan 20, 2015
CanElson Drilling Inc.-2

CanElson Drilling Inc. has revised its 2015 capital program, including the deferral of construction of three contracted drilling rigs, has reduced its quarterly dividend to $0.03 per share, down from $0.06 per share previously, and provides an operations update.

"Our modern fleet of drilling rigs and our continued financial discipline will allow CanElson to weather the impact of sustained low commodity prices. Our focus remains on providing the best possible service to our customers by being measurably more efficient in the drilling process," stated Randy Hawkings, President and CEO of CanElson.

"We believe our strong financial position and focus on efficiency will allow us to continue our industry outperformance."

Tags: CanElson Drilling Inc.




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