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Precision Drilling Corp(PD-T)
TSX

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Stocks in play: Precision Drilling Corporation

Baystreet - Fri Jan 5, 8:37AM CST

Provided a series of positive announcements including: 1) 2023 debt repayment and year-end liquidity update; 2) capital allocation framework update; and 3) financial and operational update. Precision reduced total debt by $152 million in 2023, meeting its debt reduction goal. As at December 31, 2023, Precision’s outstanding debt obligations included: US$273 million – 7.125% unsecured senior notes due January 15, 2026; US$400 million – 6.875% unsecured senior notes due January 15, 2029; US$28 million of real estate credit facilities Precision ended 2023 with a cash balance of approximately $55 million and total liquidity of approximately $615 million. Precision Drilling Corporation shares T.PD are trading down $1.09 at $69.59.

Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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