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FIL Limited filed Amendment No. 1 to Schedule 13G/A reporting beneficial ownership of 1,030,815 shares of Precision Drilling Corp common stock, equal to 8.0% of the class. The filing names FIL Limited and related entities (Pandanus Partners, L.P. and Pandanus Associates, Inc.) and references an Exhibit 99 and an incorporated power of attorney.
Precision Drilling Corporation submitted a report noting that its 2026 Annual Meeting of Shareholders will be held as a virtual-only event. The meeting is scheduled for May 14, 2026 at 10:00 a.m. MST and can be accessed online at the specified webcast link.
Registered shareholders and duly appointed proxyholders can listen, ask questions, and vote in real time, while guests may only listen. Shareholders may also vote by proxy in advance. Further details are provided in the Management Information Circular dated April 1, 2026.
Precision Drilling Corporation reported first-quarter 2026 revenue of $526,051 thousand, up 6% from 2025, driven mainly by higher drilling activity in Canada and the U.S. Adjusted EBITDA was $123,947 thousand, down 10%, while net earnings attributable to shareholders fell to $17,376 thousand, roughly half the prior year, as depreciation, share-based compensation and international reactivation costs weighed on margins.
The Contract Drilling Services segment grew revenue 7% to $449,009 thousand, but Adjusted EBITDA margin slipped to 29.6%. Completion and Production Services revenue was stable at $79,931 thousand. Working capital increased to $208,099 thousand, and long-term debt declined to $663,859 thousand as the company repaid borrowings.
Management expects 2026 capital spending of $265 million, including $168 million for maintenance, infrastructure and intangibles and $97 million for expansion and upgrades, and plans to reduce debt by $100 million while allocating up to 50% of free cash flow before debt repayments to share repurchases.
Precision Drilling Corporation reported first quarter 2026 revenue of $526 million, up 6% from 2025, driven by higher drilling activity in Canada and the U.S., partly offset by weaker international results. Adjusted EBITDA was $124 million, down 10% as share-based compensation rose to $19 million with a 39% share price increase.
Net earnings attributable to shareholders fell to $17 million or $1.34 per diluted share from $35 million or $2.20, mainly due to higher share-based compensation and additional depreciation from revised useful life estimates for drill pipe. Cash from operations of $63 million funded $65 million of capital expenditures, $25 million of debt reduction, and $4 million of share repurchases.
Average active rig counts increased to 79 in Canada and 37 in the U.S., while international rigs under contract declined slightly to seven. Operating margins per utilization day in North America were broadly stable, and the company reaffirmed 2026 priorities focused on revenue growth, free cash flow generation, and debt reduction.
Precision Drilling Corporation filed a Form 6-K to notify investors that it has released its 2026 Management Information Circular for its upcoming Annual and Special Meeting of Shareholders. The Circular is available on SEDAR+, EDGAR Next and the company’s website.
The Annual Meeting will be held in a virtual-only format on May 14, 2026 at 10:00 a.m. Mountain Time and can be accessed online at the provided meeting link. Shareholders of record as of the close of business on March 25, 2026 are entitled to participate. Non-registered shareholders must appoint themselves as proxy holders using their voting instruction forms if they wish to vote and participate online.
Precision Drilling Corporation is holding its 2026 annual shareholder meeting in a virtual-only format on May 14, 2026. Shareholders will vote on receiving 2025 financial statements, appointing PricewaterhouseCoopers LLP as new auditor, electing eight directors, and an advisory ‘say on pay’ vote.
The circular highlights 2025 execution: cash from operations of $413 million, debt reduced by $101 million, and $76 million returned to shareholders via buybacks, shrinking the share count by 6%. Precision invested $107 million in rig upgrades, expanded its EverGreen environmental solutions revenue by 22%, and ended 2025 with a Net Debt to Adjusted EBITDA ratio of about 1.2x while reinforcing ESG, governance, and board diversity practices.
Precision Drilling Corporation filed a Form 6-K as a foreign private issuer to announce timing for its 2026 first quarter results and investor call. The company plans to release results after market close on April 29, 2026, followed by a conference call on April 30, 2026 at 11:00 a.m. MT (1:00 p.m. ET). Investors can participate by registering through a provided URL to receive dial-in details and a unique PIN for questions. The call will also be available via webcast, with a replay accessible on Precision’s website for 12 months.
Precision Drilling Corporation submitted a Form 6-K to note that it has filed its annual disclosure documents for the year ended December 31, 2025. The 2025 Annual Report includes audited consolidated financial statements and management’s discussion and analysis, and was filed in Canada on SEDAR+ and in the U.S. on Form 40-F via EDGAR.
The company’s Annual Report and Annual Information Form are also available on its website or by email request. Precision will hold its 2026 Annual Meeting of Shareholders in a virtual-only format at 10:00 a.m. MDT on May 14, 2026.
Precision Drilling Corporation reported weaker 2025 financial results while continuing to strengthen its balance sheet. Revenue was $1.84 billion, down 3% from 2024, and Adjusted EBITDA declined 6% to $490 million as U.S. drilling and completion activity softened.
Net earnings attributable to shareholders fell sharply to $2 million ($0.14 per share) from $111 million ($7.81 per share), mainly due to a $67 million loss on decommissioning 31 rigs and $17 million of extra depreciation from revised drill pipe lives. Despite this, cash from operations reached $413 million.
The company reduced long‑term debt by $101 million to $679 million, bringing Net Debt to Adjusted EBITDA to 1.2x after cutting $535 million of debt since 2022. Precision also repurchased $76 million of shares, shrinking the share count by 6%, and invested $107 million in 27 major, largely customer‑funded rig upgrades to support its High Performance, High Value strategy.
Precision Drilling Corporation filed its Annual Report on Form 40-F, reaffirming governance, audit, and disclosure controls for the fiscal year ended December 31, 2025. The filing states 12,932,399 common shares outstanding as of December 31, 2025 and references audited consolidated financial statements and MD&A filed as exhibits.
The report notes an independent attestation by KPMG LLP on internal control over financial reporting, identifies five audit committee financial experts, confirms no off-balance sheet arrangements material to investors, and lists applicable exhibits including certifications and the Annual Information Form.