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Precision Drilling Corp (PD.TO)

PD.TO on Toronto Stock Exchange

3.33CAD
22 Nov 2017
Change (% chg)

$0.03 (+0.91%)
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Latest Key Developments (Source: Significant Developments)

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 Q4 loss per share C$0.10
Thursday, 9 Feb 2017 

Precision Drilling Corp : Precision Drilling Corporation announces 2016 fourth quarter and year end financial results . Q4 loss per share C$0.10 . Q4 earnings per share view C$-0.15 -- Thomson Reuters I/B/E/S . Qtrly revenue C$283.9 million versus C$345 million last year . Q4 revenue view C$264.3 million -- Thomson Reuters I/B/E/S . Precision Drilling says operating results the quarter were negatively impacted by decrease in drilling activity in U.S. and internationally . Precision Drilling - "Intentions by both OPEC & non-OPEC producers to implement production quotas should lead to improved market-balancing fundamentals" . Precision Drilling - Operating results in quarter also negatively impacted by pricing in all of co's operating segments except international . "Operating results this quarter were negatively impacted by decrease in drilling activity in U.S. and internationally" . Precision Drilling - Internationally, average active rig count in quarter was eight rigs, down one rig over Q4 in 2015 but up one rig from Q3 of 2016 .Says currently it has eight rigs active internationally; in Kuwait, two new-build rigs began working in Q4 of 2016.  Full Article

Essential Energy sells service rig division to Precision Drilling for $28 mln
Tuesday, 13 Dec 2016 

Essential Energy Services Ltd : Says essential will sell its service rig business to Precision in a transaction valued at approximately $28 million . Precision will pay for service rig business with transfer of its coil tubing and pumping assets and cash proceeds of $12 million . Says will be no transfer of employees as coil well service assets have been parked since q1 of 2016 .Essential Energy Services announces acquisition of coil tubing and pumping assets and disposition of service rig division.  Full Article

Precision Drilling to swap its Canadian coil operations for Essential Energy's rig business
Tuesday, 13 Dec 2016 

Precision Drilling Corp : Says in addition to swap of assets, Precision will make a cash payment of $12 million to Essential .Precision Drilling Corporation has entered into an agreement to swap its Canadian coil tubing operations for Essential Energy Services' service rig business.  Full Article

Precision Drilling files for mixed shelf offering of $1 bln
Thursday, 28 Jul 2016 

Precision Drilling Corp :Precision Drilling files for mixed shelf offering of $1 billion - SEC filing.  Full Article

Precision Drilling reports second-quarter results
Thursday, 21 Jul 2016 

Precision Drilling Corp : Precision Drilling Corporation announces 2016 second quarter financial results . Q2 loss per share c$0.20 .Q2 earnings per share view c$-0.24 -- Thomson Reuters I/B/E/S.  Full Article

BRIEF-Precision Drilling announces early results of cash tender offers

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