Welcome to our dedicated page for Precision Drilng news (Ticker: PDS), a resource for investors and traders seeking the latest updates and insights on Precision Drilng stock.
Precision Drilling Corporation (PDS) generates a steady flow of news tied to its role as a provider of contract drilling and completion and production services for oil and natural gas operators. Headquartered in Calgary, Alberta and listed on both the TSX (PD) and NYSE (PDS), the company regularly issues updates that reflect activity in its Super Series drilling rig fleet, well servicing operations, and international contracts.
News coverage for Precision Drilling often focuses on financial and operational updates, including quarterly and year-end results, drilling activity levels in Canada, the United States, and international markets, and the performance of its Completion and Production Services segment. Releases commonly discuss revenue, Adjusted EBITDA, rig utilization days, and capital spending related to expansion, upgrades, and maintenance of its fleet.
Investors following PDS news also see announcements on capital allocation, such as debt reduction milestones, Normal Course Issuer Bids for share repurchases, and amendments to credit agreements. The company provides context on how free cash flow is directed toward debt repayment, share buybacks, and customer-backed upgrades to its Super Series rigs.
Operationally, Precision Drilling’s news highlights demand trends for its Super Triple and Super Single rigs, activity in natural gas basins like the Haynesville and Marcellus, international work in Saudi Arabia and Kuwait, and developments in its Alpha™ digital technology and EverGreen™ environmental solutions. Updates on leadership changes, shareholder meetings, and conference calls and webcasts give additional insight into governance and investor relations. This news page brings together these disclosures so readers can review the latest company-specific developments affecting PDS.
Precision Drilling Corporation (PDS) has received approval from the Toronto Stock Exchange for a renewed Normal Course Issuer Bid (NCIB) program. The company is authorized to repurchase up to 1,251,850 common shares, representing approximately 10% of its public float as of September 5, 2025.
The NCIB will commence on September 19, 2025 and run through September 18, 2026, with a daily purchase limit of 27,898 shares. Under its previous NCIB, Precision has already purchased 1,046,370 shares at an average price of CAD$74.73. The company will implement an automatic securities purchase plan effective September 19, 2025, allowing share purchases during blackout periods.
Precision Drilling (NYSE:PDS) reported Q2 2025 financial results with revenue of $407 million, down 5.3% year-over-year, and Adjusted EBITDA of $108 million. The company posted net earnings of $16.3 million ($1.21 per share), marking its 12th consecutive quarter of positive earnings.
Operationally, PDS averaged 50 rigs in Canada (up from 49 in Q2 2024), 33 rigs in the U.S. (down from 36), and 7 rigs internationally. The company has increased its 2025 capital budget to $240 million from $200 million to upgrade 22 Super Series rigs. During Q2, PDS reduced debt by $74 million and repurchased $14 million of shares.
Precision Drilling Corporation (NYSE:PDS) has announced it will release its 2025 second quarter results after market close on Tuesday, July 29, 2025. The company will host a conference call on Wednesday, July 30, 2025 at 11:00 a.m. MT (1:00 p.m. ET).
Participants must pre-register to join the conference call, after which they will receive a dial-in number and unique PIN for question participation. The event will also be available via webcast, with a replay accessible on Precision's website for 12 months following the call.
Precision Drilling Corporation (PDS) held its 2025 Annual and Special Meeting of Shareholders on May 15, 2025, where shareholders approved the election of all eight board members. Seven of the eight directors are independent. The voting results showed strong support for all nominees, with approval ratings ranging from 94.63% to 98.63%.
David W. Williams received the highest approval with 98.63% of votes, while Steven W. Krablin received the lowest with 94.63%. The meeting also included a successful non-binding advisory vote on executive compensation. Complete voting results will be available on SEDAR and EDGAR.
Precision Drilling Corporation (PDS) has announced its 2025 Annual and Special Meeting of Shareholders, scheduled for Thursday, May 15, 2025 at 10:00 a.m. MST. The meeting will be conducted in a virtual-only format, accessible through http://meetnow.global/MWTY5VA. Registered shareholders and appointed proxyholders will have full participation rights, including the ability to listen, ask questions, and vote in real-time during the meeting.
Shareholders can also vote by proxy in advance, while guests can join to listen but cannot vote or communicate. Detailed participation instructions are available in the Management Information Circular dated April 2, 2025, and the Virtual AGM User Guide on Precision's website.
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.