PRECISION DRILLING (PDS) Company Report

Precision Drilling Corporation announced a management transition, with Carey Ford appointed President and CEO, Jean Stahl as COO, and Dustin Honing as CFO.
For Q3 2025, the company reported adjusted EBITDA of $118 million and increased its 2025 capital budget by $20 million to a range of $240 million-$260 million to fund five additional contracted rig upgrades.
The company achieved its annual debt reduction target, reducing debt by $101 million, and repurchased $54 million worth of shares during the first nine months of 2025.
Precision Drilling provided Q4 2025 guidance, expecting Canadian operating margins between $14,000 and $15,000 per day and U.S. operating margins between U.S. $8,000 and U.S. $9,000 per day.
The company expects to complete 27 major rig upgrades in 2025, backed by customer contracts, primarily in North American regions with anticipated activity increases.

Oct 23, 2025, 5:00 PM

Precision Drilling Corporation Amends Credit Agreement, Extending Maturity Dates

PDS

Debt Issuance

Precision Drilling Corporation entered into a First Amending Agreement to its Second Amended and Restated Credit Agreement on August 7, 2025.
The Operating Facility Maturity Date has been extended to October 31, 2028.
The Syndicated Facility Maturity Date has also been extended to October 31, 2028 for most lenders, while for Business Development Bank of Canada and Zions Bancorporation N.A. dba Amegy Bank, it remains June 28, 2027.
The agreement amends the "Applicable Margin" pricing table and introduces new conditions for the fall-away of security, requiring corporate family ratings of at least BBB- from at least two rating agencies for collateral release.

Sep 18, 2025, 9:00 PM

Precision Drilling Announces New Normal Course Issuer Bid

PDS

Share Buyback

Precision Drilling's new Normal Course Issuer Bid (NCIB) has been approved by the TSX, allowing the company to acquire up to 1,251,850 Common Shares, representing approximately 10% of its public float as of September 5, 2025.
The new NCIB is scheduled to commence on September 19, 2025, and will terminate no later than September 18, 2026.
Under its prior NCIB, which ran from September 19, 2024, to September 18, 2025, Precision had purchased 1,046,370 Common Shares at a weighted average price of CAD$74.73 per share through September 5, 2025.
The company believes the NCIB is a tool to enhance the value of its underlying shares and intends to fund purchases from available resources.
Precision plans to enter into an automatic securities purchase plan effective September 19, 2025, to facilitate share repurchases during periods when they would otherwise be restricted.

Sep 11, 2025, 8:02 PM

Precision Drilling Renews Normal Course Issuer Bid

PDS

Share Buyback

Precision Drilling Corporation announced the renewal of its Normal Course Issuer Bid (NCIB), authorized by the TSX, to acquire up to 1,251,850 Common Shares, representing approximately 10% of its public float as of September 5, 2025.
The renewed NCIB may commence on September 19, 2025, and will terminate no later than September 18, 2026.
Under its prior NCIB, Precision Drilling purchased 1,046,370 Common Shares at a weighted average price of CAD$74.73 per share through September 5, 2025.