Precision Drilling ( (TSE:PD) ) has issued an update.
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Precision Drilling announced it met its 2024 debt repayment and share repurchase targets, reducing debt by $176 million and returning $75 million to shareholders. The company outlined continued commitments to debt reduction and capital returns, with plans to further enhance shareholder returns in 2025. Operationally, Precision experienced strong customer demand in Canada and stable international operations, with plans to maintain high well service activity levels into 2025. These developments underscore Precision’s strategic focus on strengthening its financial position and providing value to stakeholders.
More about Precision Drilling
Precision Drilling is a leading provider of high-performance, environmentally responsible services to the energy industry. The company offers an extensive fleet of advanced drilling rigs and a digital technology portfolio under the Alpha brand, which enhances operational efficiency. Precision also provides a suite of environmental solutions known as EverGreen, as well as well service rigs, camps, and rental equipment. Headquartered in Calgary, Alberta, Canada, Precision is publicly traded on both the Toronto Stock Exchange and the New York Stock Exchange.
YTD Price Performance: 0.97%
Average Trading Volume: 75,029
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $899.7M
For detailed information about PD stock, go to TipRanks’ Stock Analysis page.
