Precision Drilling

Precision Drilling Corp. engages in the provision of onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following business segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes rig and directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment. The Completion and Production Services segment includes service rigs, oilfield equipment rental, and camp and catering services. The company was founded in 1951 and is headquartered in Calgary, Canada.

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Precision Drilling excels in Q4, eyes debt reduction and expansion

Precision Drilling's Q4 performance exceeded expectations, showcasing strong revenue growth and margin discipline. While facing challenges in share-based compensation and CapEx, the company is well-positioned to capitalize on opportunities for debt reduction and expansion.

Precision Drilling (PDS) excels in Q1, eyes strategic growth

Precision Drilling's strong financial performance, focus on debt reduction, and strategic cost control measures position the company well for future growth. Challenges in rig fungibility and market shortages require careful navigation, while seizing opportunities in shifting demand landscapes is crucial for sustained success.

Precision Drilling surpasses Q2 expectations, eyes growth amid challenges

Precision Drilling's Q2 performance exceeded expectations, driven by strong financial results and successful debt reduction efforts.
The company's focus on reducing debt, expanding Evergreen solutions, and enhancing software offerings positions it well for future growth.
Challenges include potential delays in rig additions by smaller producers and rig capacity shortages in Canada, which require strategic solutions.

Precision Drilling reports strong Q3 results, focuses on debt reduction and Gulf region expansion

Precision Drilling's Q3 performance showcased strength in Canada but challenges in the U.S. The company's debt reduction strategy and focus on shareholder returns are key highlights. Opportunities lie in expanding presence in the Gulf region and strategic mergers.

Precision Drilling reports robust 2023 results, eyes international growth

Precision Drilling (PDS) delivered strong financial performance in 2023, focusing on debt reduction and shareholder value enhancement.
The company faces challenges in balancing increased activity levels with reduced international expenditures and managing debt reduction targets.
Opportunities lie in expanding international activities, enhancing shareholder returns, adopting automation technology, and leveraging disciplined market rates for growth.
Strategic priorities, market positioning, and technological advancements position Precision Drilling well for future growth and operational efficiency.

Precision Drilling surpasses Q1 expectations, eyes Canadian growth opportunities

Precision Drilling delivered strong Q1 results, focusing on debt reduction, shareholder returns, and operational efficiency. Challenges include market dynamics in the Lower 48 and cost range for international rig readiness. Opportunities lie in Canadian rig count growth, automation technology adoption, and potential rig movements.

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CALGARY, Alberta, April 03, 2024 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (Precision or the Company) (TSX:PD; NYSE:PDS) announces today the filing of its Management Information Circular (the Circular) issued in connection with the 2024 Annual and Special Meeting of Shareholders (the Annual Meeting). A copy of the Circular can be downloaded from the Company's SEDAR+ profile at www.sedarplus.ca and the Company's EDGAR profile at www.sec.gov. The Circular is also available on Precision's website at www.precisiondrilling.com.

Precision Drilling Corporation Announces Filing of Management Information Circular, Virtual-Only Annual and Special Meeting of Shareholders, and 2023 ESG Performance Data

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CALGARY, Alberta, April 02, 2024 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (Precision) intends to release its 2024 first quarter results before the market opens on Thursday, April 25, 2024, and has scheduled a conference call to begin at 12:00 noon MT (2:00 p.m. ET) on the same day.

Precision Drilling Corporation 2024 First Quarter Results Conference Call and Webcast

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CALGARY, Alberta, March 04, 2024 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (Precision) announces that it has filed its annual disclosure documents with the securities commissions in each of the provinces of Canada and the United States Securities and Exchange Commission (SEC).

Precision Drilling Corporation Announces Filing of Annual Disclosure Documents

Precision Drilling Corporation (PDS) Q4 2023 Earnings Call Transcript

Precision Drilling (PDS) came out with quarterly earnings of $3.45 per share, beating the Zacks Consensus Estimate of $2.09 per share. This compares to earnings of $0.20 per share a year ago.

Precision Drilling (PDS) Q4 Earnings and Revenues Top Estimates

CALGARY, Alberta, Feb. 06, 2024 (GLOBE NEWSWIRE) -- This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. This news release contains references to certain Financial Measures and Ratios, including Adjusted EBITDA (earnings before income taxes, loss (gain) on investments and other assets, gain on acquisition, gain on repurchase of unsecured senior notes, finance charges, foreign exchange, loss on asset decommissioning, gain on asset disposals, and depreciation and amortization), Funds Provided by (Used in) Operations, Net Capital Spending and Working Capital. These terms do not have standardized meanings prescribed under International Financial Reporting Standards ( IFRS ) and may not be comparable to similar measures used by other companies, see “Financial Measures and Ratios” later in this news release.

Precision Drilling Reports 2023 Fourth Quarter and Year-End Unaudited Financial Results

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Precision Drilling (PDS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Precision Drilling (PDS) Earnings Expected to Grow: Should You Buy?

CALGARY, Alberta, Jan. 05, 2024 (GLOBE NEWSWIRE) -- This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release.

Precision Drilling Meets 2023 Debt Repayment and Share Repurchase Targets and Provides Capital Allocation, Financial and Operational Updates

CALGARY, Alberta, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2023 fourth quarter and year-end results before the market opens on Tuesday, February 6, 2024, and has scheduled a conference call to begin at 12:00 noon MT (2:00 p.m. ET) on the same day.

Precision Drilling Corporation 2023 Fourth Quarter and Year-End Results Conference Call and Webcast

Precision Drilling Corp (PDS) is being undervalued in the OFS market despite projected growth in their Canadian client base for 2024. Analysts rate PDS as a buy with price targets ranging from $83 to $107, implying potential for a 2-bagger from current prices. PDS is the leading drilling contractor in Canada and expects a strong start to 2024 with customer demand exceeding previous levels.

Precision Drilling Corp: Put A Driller In Your Stocking

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Rig company Precision Drilling is selling at less than its liquidation value. Brookfield Infrastructure is a dirt-cheap growth stock.

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Echoing the events from this past spring, land drillers have sold off again and have possibly created another buying opportunity. The Canadian players Precision Drilling and Ensign Energy appear particularly undervalued, given that oilfield activity in Canada stands at multi-year highs. Precision Drilling can be bought at 3x next year's EBITDA or 5x next year's earnings; Wall Street expects 60% upside.

Precision Drilling: Bullish On Canadian Oilfield Services Stocks Going Into 2024

CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) -- This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release.

Precision Drilling Completes Acquisition of CWC Energy Services Corp.

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Precision Drilling Corporation (NYSE:PDS ) Q3 2023 Earnings Conference Call October 26, 2023 2:00 PM ET Company Participants Lavonne Zdunich - Director of Investor Relations Carey Ford - Senior Vice President & Chief Financial Officer Kevin Neveu - President & Chief Executive Officer Conference Call Participants Aaron MacNeil - TD Cowen Luke Lemoine - Piper Stanley Kurt Hallead - Benchmark Keith Mackey - RBC Capital Markets Cole Pereira - Stifel Waqar Syed - ATB Capital Markets Sean Mitchell - Daniel Energy Partners Operator Good day, and thank you for standing by. Welcome to the Precision Drilling Corporation 2023 Third Quarter Conference Call.

Precision Drilling Corporation (PDS) Q3 2023 Earnings Call Transcript

Precision Drilling (PDS) came out with quarterly earnings of $1.08 per share, missing the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $1.56 per share a year ago.

Precision Drilling (PDS) Lags Q3 Earnings Estimates

CALGARY, Alberta, Oct. 26, 2023 (GLOBE NEWSWIRE) -- This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release.

Precision Drilling Announces 2023 Third Quarter Unaudited Financial Results

Analysts Estimate Precision Drilling (PDS) to Report a Decline in Earnings: What to Look Out for

CALGARY, Alberta, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2023 third quarter results before the market opens on Thursday, October 26, 2023, and has scheduled a conference call to begin at 12:00 noon MT (2:00 p.m. ET) on the same day.

Precision Drilling Corporation 2023 Third Quarter Results Conference Call and Webcast

CALGARY, Alberta, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) announced today that the Toronto Stock Exchange (the “TSX”) has approved its intention to implement a normal course issuer bid (“NCIB”) for a portion of its common shares (“Common Shares”). Precision believes the NCIB continues to represent another tool for the Company to enhance the value of its underlying shares.

Precision Announces Renewal of Normal Course Issuer Bid

Precision Drilling (PDS) anticipates realizing annual operating savings of around C$20 million following the integration of CWC Energy Services.

Precision Drilling (PDS) Acquires CWC, Fortifies Portfolio

Precision Drilling Corporation (TSX:PD) is set to acquire Calgary's CWC Energy Services (TSX-V:CWC) in a significant deal valued at approximately $141 million. The move expands Precision's service offerings in both the Canadian and oil markets, adding 62 marketed service rigs in Canada, seven marketed drilling rigs in Canada, and 11 marketed drilling rigs in the US, including seven AC triple rigs to its portfolio.

News for Precision Drilling Stock (PDS)