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Precision Drilling Corp (PD.TO)

PD.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Precision Announces Approval Of Normal Course Issuer Bid
Friday, 23 Aug 2019 

Aug 23 (Reuters) - Precision Drilling Corp ::PRECISION ANNOUNCES APPROVAL OF NORMAL COURSE ISSUER BID.PRECISION DRILLING - UNDER NCIB, CO TO ACQUIRE UP TO 29.2 MILLION SHARES FOR CANCELLATION.  Full Article

Precision Announces Reduced 2019 Capital Expenditure Plan
Monday, 19 Aug 2019 

Aug 19 (Reuters) - Precision Drilling Corp ::PRECISION ANNOUNCES REDUCED 2019 CAPITAL EXPENDITURE PLAN AND BOARD APPROVAL OF NORMAL COURSE ISSUER BID.PRECISION DRILLING CORP - REDUCTION OF 2019 CAPITAL EXPENDITURE PLAN BY $25 MILLION, DOWN TO $144 MILLION FROM $169 MILLION.PRECISION DRILLING CORP - BOARD APPROVAL TO IMPLEMENT A NORMAL COURSE ISSUER BID OF UP TO 10% OF PUBLIC FLOAT.PRECISION DRILLING CORP - UPDATE ON 2019 YEAR-TO-DATE DEBT REDUCTION OF $136 MILLION, ON TRACK FOR 2019 TARGET DEBT REDUCTION OF $200 MILLION.PRECISION DRILLING CORP - PRELIMINARY GUIDANCE ON ITS 2020 PLANNED CAPITAL EXPENDITURE RANGE OF $60 MILLION TO $80 MILLION.PRECISION DRILLING CORP - 2020 DEBT REPAYMENT TARGET RANGE OF $100 MILLION TO $150 MILLION.PRECISION DRILLING - REAFFIRMING LONG-TERM DEBT REDUCTION TARGETED RANGE OF $400 MILLION TO $600 MILLION BY END OF 2021.  Full Article

Precision Drilling Announces 2019 Second Quarter Loss Per Share Of C$0.05
Thursday, 25 Jul 2019 

July 25 (Reuters) - Precision Drilling Corp ::ORATION ANNOUNCES 2019 SECOND QUARTER UNAUDITED FINANCIAL RESULTS.Q2 REVENUE C$359 MILLION VERSUS REFINITIV IBES ESTIMATE OF C$347.6 MILLION.Q2 LOSS PER SHARE C$0.05.Q2 EARNINGS PER SHARE VIEW C$-0.09 -- REFINITIV IBES DATA.QTRLY REVENUE PER UTILIZATION DAY IN U.S. INCREASED IN Q2 OF 2019 TO US$23,425 FROM US$21,795.IN CANADA, QTRLY AVERAGE REVENUE PER UTILIZATION DAY FOR CONTRACT DRILLING RIGS WAS $21,613 COMPARED WITH $22,072.REALIZED REVENUE FROM INTERNATIONAL CONTRACT DRILLING OF US$38 MILLION IN Q2 OF 2019, AN INCREASE OF US$1 MILLION.QTRLY REVENUE FROM COMPLETION AND PRODUCTION SERVICES DECREASED $2 MILLION COMPARED WITH Q2 OF 2018.PLANS TO GENERATE STRONG FREE CASH FLOW IN 2019 AND UTILIZE $200 MILLION TO REDUCE DEBT IN 2019.  Full Article

Precision Drilling Corporation Announces Organizational Changes
Wednesday, 3 Jul 2019 

July 3 (Reuters) - Precision Drilling Corp ::PRECISION DRILLING CORPORATION ANNOUNCES ORGANIZATIONAL CHANGES.PRECISION DRILLING CORP - GENE STAHL APPOINTED TO ROLE OF CHIEF MARKETING OFFICER.  Full Article

Precision Says Year-To-Date Debt Repayment Of $125 Mln To Reach Mid-Point Of 2019 Debt Reduction Range
Tuesday, 4 Jun 2019 

June 4 (Reuters) - Precision Drilling Corp ::PRECISION ANNOUNCES YEAR-TO-DATE DEBT REPAYMENT OF $125 MILLION TO REACH THE MID-POINT OF TARGETED 2019 DEBT REDUCTION RANGE.PRECISION DRILLING CORP - PRECISION SET ITS 2019 DEBT REPAYMENT TARGET AT $100 MILLION TO $150 MILLION.PRECISION DRILLING - INCREASED LONGER-TERM DEBT REDUCTION TARGET RANGE BY $100 MILLION WITH A NEW TARGET RANGE OF $400 MILLION TO $600 MILLION BY END OF 2021.PRECISION DRILLING - DEBT REDUCTION TARGETS WERE SET EARLIER IN YEAR.  Full Article

Precision Drilling Q1 Adjusted Earnings Per Share C$0.00
Thursday, 25 Apr 2019 

April 25 (Reuters) - Precision Drilling Corp ::ANNOUNCES 2019 FIRST QUARTER UNAUDITED FINANCIAL RESULTS.Q1 EARNINGS PER SHARE C$0.00 EXCLUDING ITEMS.Q1 EARNINGS PER SHARE C$0.08.Q1 REVENUE C$434 MILLION VERSUS REFINITIV IBES ESTIMATE OF C$408.6 MILLION.Q1 EARNINGS PER SHARE ESTIMATE C$-0.05 -- REFINITIV IBES DATA.SUBSEQUENT TO Q1, ENTERED INTO A PURCHASE AND SALE AGREEMENT TO DISPOSE OF CERTAIN SNUBBING EQUIPMENT FOR PROCEEDS OF $8 MILLION.REVENUE PER UTILIZATION DAY IN U.S. INCREASED IN Q1 OF 2019 TO US$23,202 FROM US$20,603.  Full Article

Precision Drilling Corp Reports Q4 Loss Per Share C$0.16
Thursday, 15 Feb 2018 

Feb 15 (Reuters) - Precision Drilling Corp ::ORATION ANNOUNCES 2017 FOURTH QUARTER AND YEAR-END UNAUDITED FINANCIAL RESULTS.Q4 LOSS PER SHARE C$0.16.Q4 REVENUE ROSE 15 PERCENT TO C$347 MILLION.EXITED 2017 WITH 63 ACTIVE RIGS IN U.S., REPRESENTING A 62% INCREASE FROM WHERE CO ENTERED YEAR.‍DURING CURRENT QUARTER INCURRED AN ASSET IMPAIRMENT CHARGE FOR $15 MILLION, RELATED TO MEXICO CONTRACT DRILLING BUSINESS​."PRICING MOMENTUM RETURNED DURING Q4 WITH WELL-TO-WELL AND TERM CONTRACT RENEWALS PRICING INTO HIGHER DAY RATES".‍IN ADDITION, BECAUSE OF CHANGES IN U.S. TAX REGULATIONS, RECORDED A $16 MILLION FUTURE TAX EXPENSE IN QUARTER​.Q4 EARNINGS PER SHARE VIEW C$-0.09, REVENUE VIEW C$333.5 MILLION -- THOMSON REUTERS I/B/E/S."WITH CONFIRMED CUSTOMER CONTRACTS WE EXPECT OUR ACTIVE RIG COUNT WILL MOVE THROUGH 70 RIGS LATER THIS QUARTER".PRECISION DRILLING - ACTIVELY BIDDING 4 IDLE RIGS TO OPPORTUNITIES IN MIDDLE EAST REGION, PLAN TO GROW PRESENCE IN REGION ONLY IF FINANCIAL RETURNS WARRANT​.PRECISION DRILLING - "WHILE OUR CURRENT ACTIVITY OF 85 RIGS" IN CANADA "IS SLIGHTLY LOWER THAN EXPECTED, OUR DEEP BASIN & HEAVY OIL ACTIVITY REMAINS ON TRACK".PRECISION DRILLING - ‍ANTICIPATE "STRONG" CUSTOMER ADOPTION IN PROCESS AUTOMATION CONTROL, DIRECTIONAL GUIDANCE SYSTEM TECHNOLOGY IN COMING 12 MONTHS​.PRECISION DRILLING - ‍CURRENTLY HAVE 10-20 RIG UPGRADES SLATED FOR 2018, ALL ARE UNDER $3 MILLION PER RIG, EXPECT TO SPEND LESS THAN $34 MILLION ON UPGRADES​.  Full Article

Precision Drilling Corp Announces 2018 Capital Expenditure Plan
Monday, 4 Dec 2017 

Dec 4 (Reuters) - Precision Drilling Corp ::PRECISION DRILLING CORPORATION ANNOUNCES 2018 CAPITAL EXPENDITURE PLAN AND PROVIDES BALANCE SHEET UPDATE.PRECISION DRILLING CORP - ‍ANNOUNCED A 2018 CAPITAL EXPENDITURE PLAN OF $94 MILLION.PRECISION DRILLING CORP - ‍ANTICIPATE 2017 CAPITAL EXPENDITURES TO BE APPROXIMATELY $104 MILLION, CONSISTENT WITH OUR PREVIOUS GUIDANCE​.PRECISION DRILLING CORP - ‍2018 CAPEX PLAN OF $94 MILLION, COMPRISED OF $62 MILLION FOR MAINTENANCE AND INFRASTRUCTURE AND $32 MILLION TO UPGRADE EXISTING RIGS​.  Full Article

Precision Drilling Corporation Announces Addition Of New Director
Friday, 1 Dec 2017 

Dec 1 (Reuters) - Precision Drilling Corp ::PRECISION DRILLING CORPORATION ANNOUNCES ADDITION OF NEW DIRECTOR.PRECISION DRILLING CORP - ANNOUNCED TODAY ADDITION OF MICHAEL CULBERT TO ITS BOARD OF DIRECTORS.  Full Article

Precision Drilling announces early results of cash tender offers
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Precision Drilling Corp ::Precision drilling announces early results of cash tender offers and consent solicitations.Says ‍tender offers will expire at 12:00 midnight New York City time, at end of day on Dec 6 2017 unless extended or earlier terminated.  Full Article