Precision Drilling cleared for 1.23M-share buyback

Precision Drilling’s renewed NCIB authorizes buybacks of up to 1.23 million shares, about 10% of its public float, through September 2027.

Rhea-AI Filing Summary

PRECISION DRILLING Corp (PDS) received Toronto Stock Exchange approval to renew a Normal Course Issuer Bid allowing the repurchase of up to 1,229,799 Common Shares, approximately 10% of its public float as of September 8, 2026, for cancellation. As of that date, 12,587,470 Common Shares were issued and outstanding, with a public float of 12,297,993 shares. The new NCIB runs from September 21, 2026 to September 20, 2027, with a daily purchase cap of 22,165 shares based on average TSX trading volume, and will be funded from available resources. Under the prior NCIB, the company had purchased 668,674 shares at a weighted average price of CAD$102.54 per share. Precision also plans to enter into an automatic securities purchase plan, including parameters consistent with Rule 10b5-1, to facilitate repurchases during blackout or restricted periods.

Positive

• Up to 1,229,799-share buyback (about 10% of public float) is authorized for cancellation, signalling an ongoing capital return approach and potential support for per-share metrics.
• The company has an established repurchase track record, having bought 668,674 shares under the prior NCIB at a weighted average price of CAD$102.54 per share.
• Planned use of an automatic securities purchase plan under Canadian rules and Rule 10b5-1 supports execution continuity during blackout and restricted trading periods.

Negative

• None.

Key Figures

Maximum shares under renewed NCIB: 1,229,799 Common Shares Shares issued and outstanding: 12,587,470 Common Shares Public float: 12,297,993 Common Shares +5 more

8 metrics

Maximum shares under renewed NCIB 1,229,799 Common Shares Authorized for repurchase, approximately 10% of public float as of September 8, 2026

Shares issued and outstanding 12,587,470 Common Shares As of September 8, 2026

Public float 12,297,993 Common Shares As of September 8, 2026

NCIB period September 21, 2026 to September 20, 2027 Repurchase authorization window for renewed NCIB

Daily purchase limit 22,165 Common Shares 25% of average daily TSX trading volume of 88,661 shares

Prior NCIB shares repurchased 668,674 Common Shares Purchased through September 8, 2026 under prior NCIB

Weighted average repurchase price CAD$102.54 per share Average price paid under prior NCIB for 668,674 shares

Prior NCIB maximum approval 1,251,850 Common Shares Maximum shares authorized from September 19, 2025 to September 18, 2026

Key Terms

Normal Course Issuer Bid, public float, automatic securities purchase plan, Rule 10b5-1, +1 more

5 terms

Normal Course Issuer Bid financial

"has approved its intention to implement a Normal Course Issuer Bid"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

public float financial

"1,229,799 Common Shares, or approximately 10% of the public float"

Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.

automatic securities purchase plan financial

"intends to enter into an automatic securities purchase plan effective"

A plan a company sets up to buy its own shares automatically according to preset rules — for example, when the stock hits certain prices or at regular intervals — without managers deciding each trade. For investors this matters because automatic buybacks can reduce the number of shares outstanding, often supporting the stock price and boosting per-share metrics, much like a steady repurchasing habit gradually shrinking the size of a shared pie.

Rule 10b5-1 regulatory

"in accordance with applicable Canadian securities laws and the requirements of Rule 10b5-1"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

forward-looking information and statements regulatory

"contains “forward-looking information and statements” within the meaning"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PRECISION DRILLING Corp (PDS) announce in its September 2026 Form 6-K?

Precision announced TSX approval to renew a Normal Course Issuer Bid, authorizing the repurchase and cancellation of up to 1,229,799 Common Shares, approximately 10% of its public float as of September 8, 2026, over a period ending no later than September 20, 2027.

How many PRECISION DRILLING (PDS) shares can be repurchased under the renewed NCIB?

The renewed NCIB authorizes Precision Drilling to repurchase up to 1,229,799 Common Shares, which is about 10% of the public float of 12,297,993 shares as of September 8, 2026. All shares purchased under the NCIB will be cancelled.

What is the timeframe for PRECISION DRILLING’s renewed NCIB?

Purchases under Precision Drilling’s renewed NCIB may begin on September 21, 2026 and will end no later than September 20, 2027, or earlier if the company completes its authorized repurchases or decides to terminate the program.

What were PRECISION DRILLING’s prior NCIB results before the renewal?

Under the prior NCIB, which allowed the purchase of up to 1,251,850 shares between September 19, 2025 and September 18, 2026, Precision Drilling had repurchased 668,674 Common Shares through September 8, 2026 at a weighted average price of CAD$102.54 per share.

How many PRECISION DRILLING (PDS) shares are outstanding and in the public float?

As of September 8, 2026, Precision Drilling had 12,587,470 Common Shares issued and outstanding and a public float of 12,297,993 Common Shares. The renewed NCIB covers up to 10% of this public float for repurchase and cancellation.

How will PRECISION DRILLING execute buybacks under the NCIB?

Precision Drilling plans to repurchase shares through the TSX, NYSE, other designated exchanges and alternative trading systems at market prices, observing a daily limit of 22,165 shares. It also intends to use an automatic securities purchase plan consistent with Rule 10b5-1.

How will PRECISION DRILLING (PDS) fund its share repurchases?

The company states that purchases under the renewed NCIB will be funded from its available resources. All Common Shares repurchased under the NCIB will be cancelled after purchase, reducing the number of shares outstanding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/17/2026 - 04:23 PM Accepted by SEC EDGAR 09/17/2026 - 04:23 PM Learn about SEC filing dates

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2026

Commission File Number: 001-14534

Precision Drilling Corporation
(Translation of registrant's name into English)

800, 525 - 8 Avenue S.W.
Calgary, Alberta
Canada T2P 1G1
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [   ]      Form 40-F [ X ]

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Precision Drilling Corporation
		(Registrant)
Date: September 16, 2026		/s/ Dustin D Honing
		Dustin D Honing
		Chief Financial Officer

EXHIBIT INDEX

Exhibit		DESCRIPTION
99.1		PRECISION DRILLING ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

EXHIBIT 99.1

Precision Drilling Announces Renewal of Normal Course Issuer Bid

CALGARY, Alberta, Sept. 16, 2026 (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.

Precision Drilling Corporation (Precision or the Company) (TSX: PD; NYSE: PDS) announced today that the Toronto Stock Exchange (the TSX) has approved its intention to implement a Normal Course Issuer Bid (NCIB) for a portion of its Common Shares (Common Shares). Precision believes the NCIB continues to represent another tool for the Company to enhance the value of its underlying shares.

Pursuant to the renewed NCIB, the Company has been authorized by the TSX to acquire up to a maximum of 1,229,799 Common Shares, or approximately 10% of the public float as of September 8, 2026, for cancellation. As of September 8, 2026, Precision had 12,587,470 Common Shares issued and outstanding and a public float of 12,297,993 Common Shares. Purchases under the NCIB may commence on September 21, 2026 and will terminate no later than September 20, 2027, or such earlier time as the Company completes its purchases pursuant to the NCIB or provides notice of termination.

Purchases under the NCIB will be made in accordance with applicable regulatory requirements through the facilities of the TSX, the New York Stock Exchange (the NYSE), other designated exchanges and/or alternative trading systems in Canada or the United States or by such other means as may be permitted by the applicable securities regulator at a price per Common Share representative of the market price at the time of acquisition. The number of Common Shares that can be purchased pursuant to the NCIB is subject to a current daily maximum of 22,165 Common Shares (which is equal to 25% of the average daily trading volume of 88,661 Common Shares on the TSX for the six full calendar months ending August 31, 2026), subject to the Company’s ability to make one block purchase of Common Shares per calendar week that exceeds such limits. All Common Shares purchased under the NCIB will be cancelled after their purchase. The Company intends to fund the purchases out of its available resources.

Pursuant to its prior NCIB, under which the Company had approval from the TSX to purchase up to 1,251,850 Common Shares for the period of September 19, 2025 to September 18, 2026, through September 8, 2026 the Company has purchased 668,674 Common Shares on the TSX, NYSE and alternative trading systems at a weighted average purchase price of CAD$102.54 per Common Share.

The Company intends to enter into an automatic securities purchase plan effective September 21, 2026 under which its broker may purchase Common Shares in connection with the NCIB. The plan will contain a prearranged set of criteria in accordance with which its broker may make Common Share purchases. These strict parameters enable the purchase of Common Shares during times when it would ordinarily not be permitted due to self-imposed blackout periods, insider trading rules or otherwise. Such plan is adopted in accordance with applicable Canadian securities laws and the requirements of Rule 10b5-1 under the U.S. Securities Exchange Act of 1934, as amended.

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, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel.

Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange and NYSE Texas, Inc., under the trading symbol “PDS”.

Cautionary Statement Regarding Forward-Looking Information and Statements

Certain statements contained in this release, including statements that contain words such as “could”, “should”, “can”, “anticipate”, “estimate”, “intend”, “plan”, “expect”, “believe”, “will”, “may”, “continue”, “project”, “potential” and similar expressions and statements relating to matters that are not historical facts constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking information and statements”).

In particular, forward-looking information and statements include, but are not limited to the funding of purchases under the NCIB and the entering into of an automatic securities purchase plan and advantages of the NCIB.

These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. These include, among other things:

• the fluctuation in oil prices may pressure customers into reducing or limiting their drilling budgets;
• the status of current negotiations with our customers and vendors;
• customer focus on safety performance;
• existing term contracts are neither renewed nor terminated prematurely;
• continued market demand for Super Spec rigs;
• our ability to deliver rigs to customers on a timely basis;
• the impact of climate change on our business;
• the general stability of the economic and political environments in the jurisdictions where we operate; and
• the impact of an increase/decrease in capital spending.
  
  

Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements will conform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not limited to:

• volatility in the price and demand for oil and natural gas;
• fluctuations in the level of oil and natural gas exploration and development activities;

• fluctuations in the demand for contract drilling, well servicing and ancillary oilfield services;
• our customers’ inability to obtain adequate credit or financing to support their drilling and production activity;
• changes in drilling and well servicing technology, which could reduce demand for certain rigs or put us at a competitive advantage;
• shortages, delays and interruptions in the delivery of equipment supplies and other key inputs;
• liquidity of the capital markets to fund customer drilling programs;
• availability of cash flow, debt and equity sources to fund our capital and operating requirements, as needed;
• the impact of weather and seasonal conditions on operations and facilities;
• the impact of tariffs and trade disputes;
• competitive operating risks inherent in contract drilling, well servicing and ancillary oilfield services;
• ability to improve our rig technology to improve drilling efficiency;
• public health crises that impact demand for our services and our business;
• general economic, market or business conditions;
• the availability of qualified personnel and management;
• a decline in our safety performance which could result in lower demand for our services;
• business interruptions related to cybersecurity risks;
• changes in laws or regulations, including changes in environmental laws and regulations such as increased regulation of hydraulic fracturing or restrictions on the burning of fossil fuels and greenhouse gas emissions, which could have an adverse impact on the demand for oil and natural gas;
• terrorism, social, civil and political unrest in the foreign jurisdictions where we operate;
• fluctuations in foreign exchange, interest rates and tax rates; and
• other unforeseen conditions which could impact the use of services supplied by Precision and Precision’s ability to respond to such conditions.
  
  

Readers are cautioned that the foregoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect our business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision’s Annual Information Form for the year ended December 31, 2025, which may be accessed on Precision’s SEDAR+ profile at www.sedarplus.ca or under Precision’s EDGAR profile at www.sec.gov. The forward-looking information and statements contained in this news release are made as of the date hereof and Precision undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law.

Additional Information

For further 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

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE 12.8 KB