PRECISION DRILLING (PDS) Company Report

Analyst Coverage

Research analysts who have asked questions during PRECISION DRILLING earnings calls.

Aaron MacNeil

TD Cowen

5 questions for PDS

Also covers: BLDP, EFXT, ENB +3 more

John Daniel

Daniel Energy Partners

4 questions for PDS

Also covers: ACDC, CLB, CVEO +19 more

Keith MacKey

RBC Capital Markets

4 questions for PDS

Also covers: AESI, EFXT, HAL +5 more

Waqar Syed

ATB Capital Markets

4 questions for PDS

Also covers: FTI, HP, LBRT +5 more

John Gibson

BMO Capital Markets

3 questions for PDS

Also covers: NOA

Derek Podhaizer

Piper Sandler Companies

2 questions for PDS

Also covers: AESI, FLOC, FTI +14 more

Kurt Hallead

The Benchmark Company

2 questions for PDS

Also covers: AESI, BKR, FTI +14 more

Aaron Rosenthal

JPMorgan Chase & Co.

1 question for PDS

Also covers: HUN, NE, TROX

James Kubik

CIBC World Markets

1 question for PDS

Also covers: EFXT

Luke Lemoine

Piper Sandler & Co.

1 question for PDS

Also covers: SND

Sean Mitchell

Daniel Energy Partners

1 question for PDS

Also covers: AESI, ARIS, CLB +10 more

Tim Monticello

ATB Capital Markets

1 question for PDS

Latest news

Recent press releases and 8-K filings for PDS.

Precision Drilling Meets 2025 Capital Allocation Targets and Provides Operational Update

PDS

Share Buyback

Guidance Update

Precision Drilling reduced debt by $101 million in 2025, achieving its annual goal, and ended the year with approximately $85 million in cash and $447 million in total available liquidity as of December 31, 2025.
The company returned $76 million to shareholders through share repurchases in 2025, resulting in a 6% decrease in outstanding shares to 12,932,399 as of December 31, 2025.
Precision remains committed to its long-term debt reduction target of $700 million between 2022 and 2027, having already reduced debt by $535 million over the past four years, and expects its Net Debt to Adjusted EBITDA leverage ratio to be approximately 1.2 times as of December 31, 2025.
The company anticipates releasing its 2025 fourth quarter results on February 11, 2026, and expects non-cash charges of approximately $67 million for rig decommissioning and $17 million for drill pipe in Q4 2025.
Operational activity in Q4 2025 included an average of 66 active rigs in Canada and 37 in the U.S., with seven international rigs expected throughout 2026.

Jan 6, 2026, 1:00 PM

6-K

Precision Drilling Announces 2025 Financial and Operational Updates

PDS

Debt Issuance

Share Buyback

Guidance Update

Precision Drilling reduced debt by $101 million in 2025, achieving its annual goal, and reported $85 million in cash and $447 million in total available liquidity as of December 31, 2025.
The company returned $76 million to shareholders through share repurchases in 2025, meeting its annual target of allocating 35% to 45% of free cash flow before debt repayments to buybacks.
Precision expects to recognize non-cash charges totaling approximately $84 million in 2025, including $67 million for rig decommissioning and $17 million for drill pipe in the fourth quarter.
For Q4 2025, the company averaged 66 active rigs in Canada and 37 in the U.S., with international operations projected to maintain seven active rigs throughout 2026.
Precision anticipates a robust free cash flow outlook in 2026, planning further debt reduction and an increased share buyback allocation.

Jan 6, 2026, 1:00 PM

Press Release

Precision Drilling Corporation Announces Q3 2025 Results and Leadership Transition

PDS

Earnings

Management Change

Guidance Update

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

Transcript

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

6-K

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

Press Release

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.