Precision Drilng Stock Price, News & Analysis

Precision Drilling (NYSE:PDS) reported Q1 2025 financial results with revenue of $496 million, down 6% from $528 million in Q1 2024. Net earnings were $34.5 million ($2.52 per share), compared to $36.5 million ($2.53 per share) last year.

Key operational highlights include:

• Canadian operations averaged 74 drilling rigs, slightly up from 73 in Q1 2024
• U.S. operations decreased to 30 rigs from 38 year-over-year
• International operations maintained 8 active rigs
• Service rig operating hours decreased 10% due to early spring break-up and lower U.S. activity

The company generated $63.4 million in operating cash flow, repurchased $31 million of shares, and reduced debt by $17 million. Precision has lowered its 2025 capital budget to $200 million from $225 million previously announced and remains committed to repaying at least $100 million of debt in 2025.

Precision Drilling (TSX:PD; NYSE:PDS) has announced the filing of its Management Information Circular for the upcoming 2025 Annual and Special Meeting of Shareholders. The meeting will be held virtually on Thursday, May 15, 2025, at 10:00 a.m. (Mountain Time).

The virtual-only format will provide equal access to all shareholders regardless of location. Shareholders can access the meeting at https://meetnow.global/MWTY5VA. The record date for participation is March 28, 2025. Registered shareholders and appointed proxyholders will have full participation rights, including the ability to listen, ask questions, and vote in real-time. Non-registered shareholders must appoint themselves as proxyholders to participate in voting.

Precision Drilling (PDS) has announced its upcoming 2025 first quarter results release and conference call schedule. The company will release its Q1 2025 financial results after market close on Wednesday, April 23, 2025.

A conference call is scheduled for Thursday, April 24, 2025, at 11:00 a.m. MT (1:00 p.m. ET). Participants must pre-register to receive a dial-in number and unique PIN for asking questions during the call. The event will also be available via webcast, with a replay accessible on Precision's website for 12 months following the call.

Precision Drilling has announced the filing of its annual disclosure documents with Canadian provincial securities commissions and the SEC. The filing includes the company's 2024 Annual Report containing audited consolidated financial statements and management's discussion for the year ended December 31, 2024.

The financial results, previously released on February 12, 2025, are now available through multiple channels including SEDAR+ in Canada and EDGAR in the United States, as well as on the company's website. The company also announced its upcoming 2025 Annual and Special Meeting of Shareholders, scheduled as a virtual-only event for May 15, 2025, at 10:00 a.m. MDT.

Precision Drilling reported Q4 2024 financial results with revenue of $468 million, down 8% from 2023. Adjusted EBITDA was $121 million, including $15 million in share-based compensation charges. Net earnings were $15 million ($1.06 per share), compared to $147 million ($10.42 per share) in 2023.

The company achieved its 2024 debt reduction and shareholder return targets, reducing debt by $176 million and repurchasing $75 million of common shares while increasing cash by $20 million. For 2025, Precision plans to reduce debt by at least $100 million and increase shareholder returns to 35-45% of free cash flow.

Operational highlights include increased activity in Canadian and international drilling (up 12% and 37% respectively), while U.S. activity decreased. Canadian revenue per utilization day was $35,675, U.S. revenue per utilization day was US$30,991, and international revenue per utilization day was US$49,636.

Precision Drilling has announced its upcoming 2024 fourth quarter and year-end results release, scheduled for Wednesday, February 12, 2025, after market close. The company will host a conference call the following day, Thursday, February 13, 2025, beginning at 11:00 a.m. MT (1:00 p.m. ET).

Interested participants must pre-register through a provided URL link to receive a dial-in number and unique PIN for asking questions during the call. Additionally, the event will be accessible via webcast, with a replay available on Precision's website for 12 months following the presentation.

XtremeX Mining Technology (XMT) has announced plans to deploy its innovative AC-electric automated drilling rig with Ivanhoe Electric (NYSE: IE) at the Santa Cruz copper project in Arizona. The company recently secured an $11M Series-A financing led by GoGreen Partners.

The revolutionary hybrid drilling system, which adapts oil and gas technology for mining, will target depths up to 2,000 meters. Under the agreement, Ivanhoe Electric gains exclusive access to three XMT rigs for up to five years. The technology promises faster, safer, and more sustainable drilling operations with improved core recovery and high-fidelity drill chips.

The project involves collaboration with strategic partners including Precision Drilling, Baker Hughes, and the Mines Venture Fund 1, LP. The field trial at Santa Cruz will test the rig's capabilities in accelerating the drilling process and reducing costs for mineral exploration.

Precision Drilling has announced that it has met its 2024 debt repayment and share repurchase targets. The company has allocated significant capital towards reducing its debt and buying back shares, which is expected to enhance shareholder value and demonstrate confidence in its future prospects. In addition, the company provided updates on its capital allocation, financial performance, and operational metrics.

Precision Drilling released its financial results for Q3 2024. The company reported revenue of $492 million, a decrease from $507 million in Q3 2023. Net earnings were $19 million ($1.30 per diluted share), down from $32 million ($2.26 per diluted share) in the same quarter last year. The company experienced lower drilling activity in North America, partially offset by higher day rates and increased international operations.