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Precision Drilling Corp (PD.TO)

PD.TO on Toronto Stock Exchange

4.89CAD
23 May 2018
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Latest Key Developments (Source: Significant Developments)

Precision Drilling Corp Reports Q4 Loss Per Share C$0.16
Thursday, 15 Feb 2018 06:00am EST 

Feb 15 (Reuters) - Precision Drilling Corp ::ORATION ANNOUNCES 2017 FOURTH QUARTER AND YEAR-END UNAUDITED FINANCIAL RESULTS.Q4 LOSS PER SHARE C$0.16.Q4 REVENUE ROSE 15 PERCENT TO C$347 MILLION.EXITED 2017 WITH 63 ACTIVE RIGS IN U.S., REPRESENTING A 62% INCREASE FROM WHERE CO ENTERED YEAR.‍DURING CURRENT QUARTER INCURRED AN ASSET IMPAIRMENT CHARGE FOR $15 MILLION, RELATED TO MEXICO CONTRACT DRILLING BUSINESS​."PRICING MOMENTUM RETURNED DURING Q4 WITH WELL-TO-WELL AND TERM CONTRACT RENEWALS PRICING INTO HIGHER DAY RATES".‍IN ADDITION, BECAUSE OF CHANGES IN U.S. TAX REGULATIONS, RECORDED A $16 MILLION FUTURE TAX EXPENSE IN QUARTER​.Q4 EARNINGS PER SHARE VIEW C$-0.09, REVENUE VIEW C$333.5 MILLION -- THOMSON REUTERS I/B/E/S."WITH CONFIRMED CUSTOMER CONTRACTS WE EXPECT OUR ACTIVE RIG COUNT WILL MOVE THROUGH 70 RIGS LATER THIS QUARTER".PRECISION DRILLING - ACTIVELY BIDDING 4 IDLE RIGS TO OPPORTUNITIES IN MIDDLE EAST REGION, PLAN TO GROW PRESENCE IN REGION ONLY IF FINANCIAL RETURNS WARRANT​.PRECISION DRILLING - "WHILE OUR CURRENT ACTIVITY OF 85 RIGS" IN CANADA "IS SLIGHTLY LOWER THAN EXPECTED, OUR DEEP BASIN & HEAVY OIL ACTIVITY REMAINS ON TRACK".PRECISION DRILLING - ‍ANTICIPATE "STRONG" CUSTOMER ADOPTION IN PROCESS AUTOMATION CONTROL, DIRECTIONAL GUIDANCE SYSTEM TECHNOLOGY IN COMING 12 MONTHS​.PRECISION DRILLING - ‍CURRENTLY HAVE 10-20 RIG UPGRADES SLATED FOR 2018, ALL ARE UNDER $3 MILLION PER RIG, EXPECT TO SPEND LESS THAN $34 MILLION ON UPGRADES​.  Full Article

Precision Drilling Corp Announces 2018 Capital Expenditure Plan
Monday, 4 Dec 2017 06:00am EST 

Dec 4 (Reuters) - Precision Drilling Corp ::PRECISION DRILLING CORPORATION ANNOUNCES 2018 CAPITAL EXPENDITURE PLAN AND PROVIDES BALANCE SHEET UPDATE.PRECISION DRILLING CORP - ‍ANNOUNCED A 2018 CAPITAL EXPENDITURE PLAN OF $94 MILLION.PRECISION DRILLING CORP - ‍ANTICIPATE 2017 CAPITAL EXPENDITURES TO BE APPROXIMATELY $104 MILLION, CONSISTENT WITH OUR PREVIOUS GUIDANCE​.PRECISION DRILLING CORP - ‍2018 CAPEX PLAN OF $94 MILLION, COMPRISED OF $62 MILLION FOR MAINTENANCE AND INFRASTRUCTURE AND $32 MILLION TO UPGRADE EXISTING RIGS​.  Full Article

Precision Drilling Corporation Announces Addition Of New Director
Friday, 1 Dec 2017 01:28pm EST 

Dec 1 (Reuters) - Precision Drilling Corp ::PRECISION DRILLING CORPORATION ANNOUNCES ADDITION OF NEW DIRECTOR.PRECISION DRILLING CORP - ANNOUNCED TODAY ADDITION OF MICHAEL CULBERT TO ITS BOARD OF DIRECTORS.  Full Article

Precision Drilling announces early results of cash tender offers
Wednesday, 22 Nov 2017 09:56am 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
Wednesday, 22 Nov 2017 08:30am 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

CANADA STOCKS-TSX edges higher, led by materials; Shopify slides

May 1 * The Toronto Stock Exchange's S&P/TSX composite index rose 11.05 points, or 0.07 percent, to 15,618.93