Precision Drilling Corp
NYSE:PDS
Precision Drilling Corp
Precision Drilling Corp. engages in the provision od onshore drilling, completion, and production services to the oil and natural gas industry. The company is headquartered in Calgary, Alberta and currently employs 3,900 full-time employees. The company went IPO on 2010-06-02. The firm's segments include Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes drilling rigs, procurement and distribution of oilfield supplies, and manufacture, sale and repair of drilling equipment. The Completion and Production Services segment includes service rigs, oilfield equipment rental and camp and catering services. The company provides onshore drilling services to exploration and production companies in the oil and natural gas and geothermal industries. The company provides well completion, workover, abandonment and re-entry preparation services to oil and natural gas exploration and production companies. The company also provides digital technology offerings.
Precision Drilling Corp. engages in the provision od onshore drilling, completion, and production services to the oil and natural gas industry. The company is headquartered in Calgary, Alberta and currently employs 3,900 full-time employees. The company went IPO on 2010-06-02. The firm's segments include Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes drilling rigs, procurement and distribution of oilfield supplies, and manufacture, sale and repair of drilling equipment. The Completion and Production Services segment includes service rigs, oilfield equipment rental and camp and catering services. The company provides onshore drilling services to exploration and production companies in the oil and natural gas and geothermal industries. The company provides well completion, workover, abandonment and re-entry preparation services to oil and natural gas exploration and production companies. The company also provides digital technology offerings.
Financial Performance: Precision Drilling delivered strong free cash flow in 2025, reduced debt by $101 million, and allocated $76 million to share buybacks, meeting guidance targets.
Rig Activity: The company increased U.S. rig utilization from 27 to 40 during 2025 and peaked at 87 active rigs in Canada in Q1 2026, surpassing last year’s high.
Margins: Canadian and U.S. daily operating margins in Q4 2025 were within guidance, with Canada at $14,132/day and U.S. at $8,754/day.
Guidance: 2026 capital expenditures are budgeted at $245 million, and Canadian and U.S. Q1 2026 operating margins are expected to remain steady.
International Developments: The company is focused on reactivating idle rigs in Kuwait and Saudi Arabia, and exploring a capital-light partnership in Argentina.
Asset Optimization: Precision took $67 million in noncash charges related to decommissioning rigs and $17 million for drill pipe, reflecting industry-wide shifts to more complex drilling.
