Precision Off The Mark As Oil Rig Work Drops

Onshore driller Precision Drilling plunged to a fourth-quarter loss as revenue was hit by lower utilisation of its North American land rig fleet.The Calgary-based contractor reported a net loss of C$116 million ($115.9 million) in the quarter, reversing a year-earlier profit of $28 million as revenue tumbled 9.1% year-on-year to C$534 million.The quarterly result was also negatively impacted by