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Precision Drilling Corp (PD.TO)

PD.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Precision Drilling announces early results of cash tender offers
9:56am EST 

Nov 22 (Reuters) - Precision Drilling Corp ::Precision drilling announces early results of cash tender offers and consent solicitations.Says ‍tender offers will expire at 12:00 midnight New York City time, at end of day on Dec 6 2017 unless extended or earlier terminated.  Full Article

Precision Drilling announces early results of cash tender offers and consent solicitations
8:30am EST 

Nov 22 (Reuters) - Precision Drilling Corp :Precision Drilling announces early results of cash tender offers and consent solicitations.Precision Drilling Corp - ‍tender offers will expire at 12:00 midnight New York City time, at end of day on December 6, 2017​.  Full Article

Precision Drilling proposes private offering of $400 mln senior notes
Wednesday, 8 Nov 2017 12:41pm EST 

Nov 8 (Reuters) - Precision Drilling Corp ::Precision Drilling announces proposed private offering of $400 million senior notes.Proceeds of proposed private offering will be used to repurchase and redeem existing senior notes​.Intends to offer $400 million aggregate principal amount of senior notes due 2026 in a private offering​.  Full Article

Precision Drilling announces tender offer for all outstanding 6.625% senior notes due 2020 and part of its outstanding 6.500% senior notes due 2021
Wednesday, 8 Nov 2017 12:41pm EST 

Nov 8 (Reuters) - Precision Drilling Corp ::Precision drilling announces tender offer for all of its outstanding 6.625% senior notes due 2020 and a portion of its outstanding 6.500% senior notes due 2021.Commenced tender offers for outstanding 6.625% senior notes due 2020 & up to $70 million of outstanding 6.500% senior notes due 2021​.Tender offers will expire on December 6, 2017​.To finance purchase of notes tendered in tender offers with cash on hand,proceeds from private placement of senior notes due 2026​.  Full Article

Precision Drilling Corporation announces 2017 third quarter results
Friday, 27 Oct 2017 06:00am EDT 

Oct 27 (Reuters) - Precision Drilling Corp :Precision Drilling Corporation announces 2017 third quarter financial results.Q3 loss per share C$0.09.Q3 earnings per share view C$-0.12 -- Thomson Reuters I/B/E/S.Q3 revenue C$315 million versus I/B/E/S view C$323.5 million.Precision drilling corp - ‍Q3 capital expenditures were $23 million, with full year capital spending expected to be $104 million​.‍reduced 2017 capital spending program by $34 million to $104 million​.‍now plan to spend $39 million in upgrade capital which includes approximately 30 rig upgrades in 2017 ​.Precision drilling-‍volatile & lower than anticipated commodity prices caused industry rig activity to retract mid-Q3 with trend continuing in recent weeks​.Precision Drilling - in U.S. ‍expect active rig count to return to 2017 peak levels later this year and into Q1 of 2018​.Precision Drilling - ‍in Canada, while customer budgets have yet to firm up, early indications point to Q1 peak demand mirroring 2017 levels​.Precision Drilling - ‍Q3 activity in Canada was slightly lower than expected due to weather delays and lack of urgency from customers ​.Precision Drilling - Q3 Canada ‍rig count rose to 57 rigs; expect activity to continue to trend higher heading into 2018 winter drilling season​.Precision Drilling Corp - "‍are actively bidding four idle rigs to attractive opportunities" in middle east​.  Full Article

Precision drilling announces addition of new director
Friday, 22 Sep 2017 06:00am EDT 

Sept 22 (Reuters) - Precision Drilling Corp :Precision Drilling Corp announces addition of new director.Precision Drilling Corp - ‍addition of Susan MacKenzie to its board of directors​.  Full Article

Precision Drilling provides hurricane Harvey's impact on operations
Thursday, 31 Aug 2017 02:34pm EDT 

Aug 31 (Reuters) - Precision Drilling Corp ::Announces us$100,000 pledge to U.S. Gulf Coast relief efforts and provides U.S. operational update.Says Company's U.S. field operations have not been adversely impacted by severe weather across Texas Gulf Coast.Says company may experience delays with rig moves but does not anticipate any material financial or operational impacts as a result​.  Full Article

Precision Drilling reports Q2 loss per share C$0.12
Monday, 31 Jul 2017 06:00am EDT 

July 31 (Reuters) - Precision Drilling Corp ::Precision Drilling Corporation announces 2017 second quarter financial results.Q2 loss per share C$0.12.Q2 revenue C$276 million versus I/B/E/S view C$272.3 million.Q2 earnings per share view C$-0.20 -- Thomson Reuters I/B/E/S.Precision Drilling Corp - full year capital spending expected to be $138 million.Precision Drilling Corp - ‍"we expect tier 1 rigs to remain preferred rigs of customers globally​".Precision Drilling Corp - 2017 capital program has increased by approximately $19 million as co elected to upgrade existing erp system.Precision Drilling Corp - ‍in U.S., co grew active rig count by 56pct throughout first half of 2017​.Precision Drilling Corp - "‍following opec's actions to limit production to stabilize oil prices, we have experienced increased demand for our rigs​".Precision Drilling - to date in 2017, about 53% of canadian industry's active rigs and 80% of u.s. Industry's active rigs were drilling for oil targets.Precision Drilling Corp - ‍most "competitive market" in which co operates remains shallower parts of western canadian sedimentary basin​.Precision Drilling Corp - ‍expect that demand for "leading edge high efficiency" tier 1 rigs will continue to strengthen​.  Full Article

Precision Drilling expects Canadian activity to be at trough levels for the year
Monday, 15 May 2017 08:30am EDT 

May 15 (Reuters) - Precision Drilling Corp :Precision Drilling announces 2017 analyst and investor day highlights and activity update.Precision Drilling Corp - expects current Canadian activity to be at trough levels for year due to Canadian market's annual spring break up.Precision Drilling Corp - in U.S., Precision currently has 55 active rigs and quarter-to-date average active rig count in U.S. is 58 rigs.Precision Drilling Corp - expects to have five additional rigs contracted and activated over next three weeks.Precision Drilling Corp - internationally, activity continues to progress as expected with eight rigs active in quarter.  Full Article

Precision Drilling Corp Q1 loss per share C$0.08
Monday, 24 Apr 2017 06:00am EDT 

April 24 (Reuters) - Precision Drilling Corp :Precision Drilling Corporation announces 2017 first quarter financial results.Q1 loss per share C$0.08.Q1 earnings per share view C$-0.10 -- Thomson Reuters I/B/E/S.Q1 revenue C$346 million versus I/B/E/S view C$341.6 million.Precision Drilling Corp - during quarter, we activated 17 rigs in U.S. Growing from 39 to 56 operating rigs by end of quarter.Full year capital spending expected to be C$119 million.Precision Drilling Corp - In Canada, experienced a seasonal peak of 91 active rigs in quarter.Precision Drilling Corp - "during q1, we experienced some increased costs, primarily due to repositioning rigs".Precision Drilling Corp - average service rig revenue per operating hour in quarter was $636 or $109 lower than Q1 of 2016.Precision Drilling Corp - internationally, have eight active rigs in Middle East and no contract rollovers in 2017.Precision Drilling Corp - "following OPEC's actions to limit production to stabilize oil prices, we have experienced increased demand for our rigs".Precision Drilling Corp - "should commodity prices continue to improve, we expect sequential improvements in pricing in U.S. and deep basin in Canada".Precision Drilling Corp - during Q1, had increased costs, primarily due to repositioning rigs which included moving 6 U.S. rigs from Marcellus and Bakken regions.Precision Drilling Corp - expect pricing improvements in "shallower parts of Canadian market".  Full Article

BRIEF-Precision Drilling announces early results of cash tender offers

* Precision drilling announces early results of cash tender offers and consent solicitations