Precision Drilling Corporation Announces Dual Listing on NYSE Texas

Rhea-AI Summary

Precision Drilling (NYSE:PDS) announced approval for a dual listing on NYSE Texas, effective March 2, 2026. The company will keep its primary listing on the New York Stock Exchange and continue trading on the Toronto Stock Exchange under PD.

Shares will use the same PDS ticker on NYSE Texas; the exchange launched in March 2025.

Key Figures

NYSE Texas launch: March 2025 Dual listing effective date: March 2, 2026

2 metrics

NYSE Texas launch March 2025 Launch date of NYSE Texas equities exchange

Dual listing effective date March 2, 2026 Effective date for PDS trading on NYSE Texas

Market Reality Check

Price: $86.08 Vol: Volume 71,492 is 0.54x th...

low vol

$86.08 Last Close

Volume Volume 71,492 is 0.54x the 20-day average of 131,858. low

Technical Trading above 200-day MA of 60.27 with price at 86.08, about 6.84% below the 52-week high of 92.40.

Peers on Argus

While PDS was down 0.62%, key drilling peers were flat to positive (e.g., NBR +2...

While PDS was down 0.62%, key drilling peers were flat to positive (e.g., NBR +2.42%, PTEN +2.69%, SDRL +1.79%, HP +2.61%), pointing to a stock-specific move rather than a sector-wide shift.

Historical Context

5 past events · Latest: Feb 11 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 11	Q4 2025 earnings	Negative	-7.8%	Q4 revenue and EBITDA up but net loss on non-cash charges.
Jan 06	Capital allocation update	Neutral	-0.1%	Company reported meeting annual capital allocation targets and updates.
Jan 05	Earnings call notice	Neutral	-0.1%	Scheduled Q4 and year-end results call and webcast for investors.
Oct 22	Q3 2025 earnings	Negative	+3.9%	Q3 revenue and EBITDA declined, loss to shareholders, higher capex.
Oct 06	CEO transition	Neutral	-1.2%	Appointment of new CEO and leadership changes with predecessor retiring.

Pattern Detected

Recent news has produced mixed reactions, with some operational and earnings updates selling off while a weaker-looking quarter in 2025 saw shares rise, indicating no consistent pattern in how the stock trades around company announcements.

Recent Company History

Over the past several months, Precision Drilling has focused on financial performance, capital allocation, and leadership transition. Q3 2025 results on Oct 22 showed declines in revenue and Adjusted EBITDA yet the stock rose 3.89%. The CEO transition on Oct 6, 2025 saw a modest negative reaction. More recently, Q4 2025 earnings on Feb 11, 2026 featured revenue and EBITDA growth but a net loss, with shares falling 7.77%. Against this backdrop, today’s dual-listing news is a corporate-structure update rather than a fundamental shift.

Market Pulse Summary

This announcement details Precision Drilling’s approval for a dual listing on NYSE Texas, with tradi...

Analysis

This announcement details Precision Drilling’s approval for a dual listing on NYSE Texas, with trading expected to begin on March 2, 2026 under the existing “PDS” ticker, while maintaining listings on the NYSE and TSX. The move relates to trading venue and accessibility rather than fundamentals. In light of recent earnings, capital allocation updates, and leadership changes, investors may watch how the additional listing influences liquidity and ownership dynamics over time.

Key Terms

dual listing, common shares, ticker symbol, equities exchange

4 terms

dual listing financial

"today announced that its common shares have been approved for dual listing on NYSE Texas"

A dual listing is when a company makes the same shares available on two different stock exchanges, often in different countries, so investors can buy and sell the same ownership stake in more than one market—like a shop opening branches in two cities that sell the same product. It matters to investors because it can widen the pool of buyers, make shares easier to trade, expose the stock to different currencies and rules, and create price differences or arbitrage opportunities that affect returns and risk.

common shares financial

"today announced that its common shares have been approved for dual listing"

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

ticker symbol financial

"and trade with the same “PDS” ticker symbol on NYSE Texas"

A ticker symbol is a short, unique code of letters or characters that identifies a publicly traded security on an exchange — like a car’s license plate or a person’s nickname for the market. Investors use ticker symbols to look up live prices, place trades, and follow news; using the correct symbol makes sure you’re tracking or buying the intended stock, bond, or fund and helps avoid costly mix-ups.

equities exchange financial

"NYSE Texas, a fully electronic equities exchange headquartered in Dallas, Texas"

An equities exchange is a regulated marketplace where shares of publicly traded companies are bought and sold, matching people who want to buy stock with those who want to sell. It matters to investors because it provides a transparent place to discover prices, complete trades quickly, and judge a company’s market value — like a busy marketplace that sets fair prices by showing what buyers will pay and sellers will accept.

AI-generated analysis. Not financial advice.

CALGARY, Alberta, Feb. 27, 2026 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) today announced that its common shares have been approved for dual listing on NYSE Texas, a fully electronic equities exchange headquartered in Dallas, Texas, which launched in March 2025.

Precision will maintain its primary listing on the New York Stock Exchange (NYSE) and trade with the same “PDS” ticker symbol on NYSE Texas, effective March 2, 2026. The Company’s common shares will also continue to trade on the Toronto Stock Exchange under the trading symbol “PD”.

About Precision

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha™ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen™ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations. Additionally, Precision offers well service rigs, rental equipment and camps all backed by a comprehensive mix of technical support services and skilled, experienced personnel.

Additional Information

For more information about Precision, please visit our website at www.precisiondrilling.com or contact:

Lavonne Zdunich, CPA, CA
Vice President, Investor Relations
403.716.4500

800, 525 - 8th Avenue S.W.
Calgary, Alberta, Canada T2P 1G1
Website: www.precisiondrilling.com

FAQ

When will Precision Drilling (PDS) begin trading on NYSE Texas?

Precision Drilling will begin trading on NYSE Texas on March 2, 2026. According to the company, the common shares will trade under the same PDS ticker while retaining the NYSE primary listing and Toronto Stock Exchange trading under PD.

Will Precision Drilling (PDS) keep its NYSE primary listing after the NYSE Texas dual listing?

Yes — Precision Drilling will maintain its primary listing on the NYSE after the dual listing. According to the company, the NYSE remains primary while shares will also trade electronically on NYSE Texas under PDS starting March 2, 2026.

What ticker symbols will Precision Drilling use after the NYSE Texas listing?

Shares will trade as PDS on NYSE Texas and NYSE, and as PD on the Toronto Stock Exchange. According to the company, the trading symbols remain unchanged and the new listing simply adds NYSE Texas trading access from March 2, 2026.

Does the NYSE Texas listing change where Precision Drilling (PDS) is domiciled or its primary exchange?

No — the NYSE Texas listing does not change domicile or primary exchange status. According to the company, the primary listing remains on the NYSE while NYSE Texas provides an additional electronic trading venue beginning March 2, 2026.

What is NYSE Texas and when did it launch relative to Precision Drilling's listing?

NYSE Texas is a fully electronic equities exchange that launched in March 2025. According to the company, Precision Drilling's shares will be approved to trade on NYSE Texas effective March 2, 2026, adding a secondary trading venue.