$6.16
-0.17 (-2.69%)
Pioneer Drilling Company (PDC)
CAPS Rating:
The Company provides contract land drilling services to independent and main oil and gas exploration and production companies.
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While alternative fuels are being pushed for development, the current demad for oil necessitates further exploration and development of our oil reserves. At the current price of oil and given the likely rise over the next several years, exploration and development of new sources of oil is now a more profitable venture and will probably see a sharp increase in new capital over the next couple of years.