CALGARY, Alberta, July 18, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) is pleased to announce that it has entered into an asset purchase agreement to acquire the well servicing business and associated rentals assets of High Arctic Energy Services Inc. (“High Arctic”) for an aggregate purchase price of $38.2 million, payable in cash (the “Transaction”).

Precision adds to its Canadian well servicing operation a fleet of 80 service rigs (51 marketed and 29 inactive). The Transaction provides Precision with rental assets, ancillary support equipment, inventories and spares, and six additional operating facilities in key … Continue Reading

CALGARY, Alberta, July 08, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) is pleased to announce the release of its annual Corporate Responsibility Report, which highlights several key Environmental, Social and Governance (“ESG”) accomplishments aligned with its High Performance, High Value strategy.

The report highlights the Company’s progress in ESG efforts, and provides an outline of Precision’s ESG strategies, focus areas, and performance. We have expanded our reporting to include additional elements from the Sustainability Accounting Standards Board (“SASB”) and Task Force on Climate-Related Financial Disclosures (“TCFD”) guidelines. We have also incorporated a significantly broader base … Continue Reading

CALGARY, Alberta, July 07, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision”) intends to release its 2022 second quarter results before the market opens on Wednesday, July 27, 2022, and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day. To participate in the live call please register at the URL link below:

https://register.vevent.com/register/BI520cba3a13144e1e995738278dc02cf4

This link replaces the dial-in details that were included in past releases. Once registered, you will receive a dial-in number and a unique PIN, which will allow you to ask questions.

An archived version of … Continue Reading

CALGARY, Alberta, May 12, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) is pleased to announce the results of the election of board members at its 2022 Annual and Special Meeting of Shareholders held on May 12, 2022 (the “Annual Meeting”). Shareholders approved the election of all 8 (7 of whom are independent) of the nominee directors presented in the Company’s Management Information Circular (the “Circular”), dated March 30, 2022.

The shares represented at the Annual Meeting voting in favour of individual nominee directors are as follows:

CALGARY, Alberta, May 02, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision”) reminds shareholders that it is holding its 2022 Annual and Special Meeting of Shareholders (“Annual Meeting”) on Thursday, May 12, 2022 at 10:00 a.m. MT. As previously announced, due to the novel coronavirus (“COVID-19”) and to mitigate against any health emergency risks, the Annual Meeting will be held in a virtual-only meeting format. The virtual-only meeting format will provide all shareholders an equal opportunity to participate in the Annual Meeting regardless of their geographic location or concerns related to COVID-19.

The Annual Meeting can be accessed by logging … Continue Reading

CALGARY, Alberta, April 28, 2022 (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, gain on investments and other assets, finance charges, foreign exchange, gain on asset disposals, and depreciation and amortization), Funds Provided by (Used in) Operations, Net Capital Spending … Continue Reading

CALGARY, Alberta, April 06, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision”) intends to release its 2022 first quarter results before the market opens on Thursday, April 28, 2022, and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day.

The conference call dial in numbers are 844-515-9176 or 614-999-9312 (International) or a live webcast is accessible on our website at www.precisiondrilling.com.

An archived version of the webcast will be available for approximately 60 days. An archived recording of the conference call will be available approximately one hour … Continue Reading

This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release.

CALGARY, Alberta, March 30, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) announces today the filing and publication of its Management Information Circular (the “Circular”) issued in connection with the 2022 Annual and Special Meeting of Shareholders (the “Annual Meeting”).

Management Information Circular & … Continue Reading

CALGARY, Alberta, March 07, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision”) announced 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’s 2021 Annual Report contains the audited consolidated financial statements and management’s discussion and analysis for the year ended December 31, 2021. Precision’s financial results for the year ended December 31, 2021 were previously released on February 10, 2022.

Precision’s Annual Report and Annual Information Form have been filed on the Canadian System for Electronic Document Analysis and Retrieval … Continue Reading

CALGARY, Alberta, Feb. 10, 2022 (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 Adjusted EBITDA (earnings before income taxes, loss (gain) on repurchase of unsecured senior notes, loss (gain) on investments and other assets, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization), Covenant EBITDA, Operating Earnings (Loss), Funds … Continue Reading

CALGARY, Alberta, Jan. 19, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision”) intends to release its 2021 fourth quarter results before the market opens on Thursday, February 10, 2022 and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day.

The conference call dial in numbers are 844-515-9176 or 614-999-9312 (International) or a live webcast is accessible on our website at www.precisiondrilling.com

An archived version of the webcast will be available for approximately 60 days. An archived recording of the conference call will be available approximately one hour after … Continue Reading

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