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Precision Drilling Corp (PD.TO)

PD.TO on Toronto Stock Exchange

2.89CAD
21 May 2019
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Latest Key Developments (Source: Significant Developments)

Precision Drilling Q1 Adjusted Earnings Per Share C$0.00
Thursday, 25 Apr 2019 

April 25 (Reuters) - Precision Drilling Corp ::ANNOUNCES 2019 FIRST QUARTER UNAUDITED FINANCIAL RESULTS.Q1 EARNINGS PER SHARE C$0.00 EXCLUDING ITEMS.Q1 EARNINGS PER SHARE C$0.08.Q1 REVENUE C$434 MILLION VERSUS REFINITIV IBES ESTIMATE OF C$408.6 MILLION.Q1 EARNINGS PER SHARE ESTIMATE C$-0.05 -- REFINITIV IBES DATA.SUBSEQUENT TO Q1, ENTERED INTO A PURCHASE AND SALE AGREEMENT TO DISPOSE OF CERTAIN SNUBBING EQUIPMENT FOR PROCEEDS OF $8 MILLION.REVENUE PER UTILIZATION DAY IN U.S. INCREASED IN Q1 OF 2019 TO US$23,202 FROM US$20,603.  Full Article

Precision Drilling Corp Reports Q4 Loss Per Share C$0.16
Thursday, 15 Feb 2018 

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 

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 

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 

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 

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 

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 

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 

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 

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

CANADA STOCKS-TSX drops on weak Bombardier outlook, BoC's growth forecast cut

April 25 Canada's main stock index fell on Thursday, hurt by a drop in Bombardier Inc's shares following a weak full-year outlook and as the Bank of Canada lowered its growth forecast for 2019.