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Precision Drilling Corporation

Precision Drilling Corporation is a drilling company that provides onshore drilling services to exploration and production companies in the oil and natural gas and geothermal industries in the United States, Canada, and internationally. It operates through two segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services, turnkey drilling contracts, procurement and distribution of oilfield supplies, and manufacture, sale, and repair of drilling and service rig equipment. It also provides automation solutions such as AlphaAutomation, AlphaTM, AlphaApps, AlphaAnalytics, and AlphaARMS, as well as the EverGreen suite of environmental solutions. The Completion and Production Services segment provides service rigs for well completion, workover, abandonment, maintenance, and re-entry preparation; equipment rentals; and camp and catering services. The company was founded in 1951 and is headquartered in Calgary, Canada.

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Trump says Exxon going into Venezuela as US secures oil deal

President Trump announced Monday that Exxon Mobil is among oil companies planning to do business in Venezuela, touting a deal that would grant the U.S. access to about 20% of Venezuela's crude reserves and more than double U.S. oil reserves. Trump said Exxon, Chevron, and other big oil companies are bidding, and that the U.S. is taking out millions of barrels of oil from Venezuela for Gulf Coast refineries. Exxon has not commented on the claim, and its CEO Darren Woods previously called Venezuela uninvestable, though the company said in March it would send a technical team to study opportunities. The agreement, announced Friday, gives the U.S. a direct financial stake in a private company led by Alejandro Betancourt, which would receive century-long rights to 65 billion barrels of reserves. Betancourt's company, already the second-largest private producer in Venezuela behind Chevron, plans to deploy over 50 drilling rigs and has acquired 23 new rigs from U.S. contractors Helmerich & Payne, Precision Drilling, and Patterson-UTI Energy.
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Precision Drilling Q2 GAAP EPS misses by $0.51, revenue beats by $141.09M

Precision Drilling reported second-quarter GAAP earnings per share of negative $0.52, missing estimates by $0.51. Revenue came in at $452.8 million, an 11.4% increase year-over-year, beating expectations by $141.09 million. Adjusted EBITDA was $97 million, down 10% from $108 million in the same quarter of 2025. Cash provided by operations reached $146 million, enabling the company to reduce debt by $50 million and repurchase $12 million of common shares. Capital expenditures rose to $76 million from $53 million a year earlier, and the company stated it is well positioned to meet its long-term debt reduction target of $700 million between 2022 and 2027, having already reduced debt by $610 million since the beginning of 2022.
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Precision Drilling to report Q2 2026 earnings on July 28

Precision Drilling is scheduled to announce its second-quarter 2026 earnings results on Tuesday, July 28, after market close. The consensus earnings per share estimate is $0.28, while the consensus revenue estimate is $311.71 million, representing a 23.4% decline year-over-year. Over the last three months, EPS estimates have seen one upward revision and four downward revisions, while revenue estimates have seen five upward revisions and zero downward revisions.
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