CALGARY, Alberta, Jan. 06, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or “the Company”) (TSX:PD; NYSE:PDS) provides a series of announcements including: 1) An introduction to its capital allocation framework through 2025; 2) 2021 debt reduction and year-end liquidity updates; and 3) Operations update for drilling activity, Alpha™ technologies and EverGreen™ solutions.
Capital Allocation Framework Through 2025
Precision’s debt reduction plans will continue with the goal of repaying over $400 million in debt over the next four years and reaching a sustained Net Debt to Adjusted EBITDA ratio of below 1.5 times. At the end of 2025, Precision expects … Continue Reading