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Stock impact report

Precision Drilling Introduces Capital Allocation Framework Through 2025 and Provides Balance Sheet and Operational Updates [Financial Post (Toronto, Ontario, Canada)]

Precision Drilling Corporation (PDS) 
Last precision drilling corporation earnings: 4/30 06:00 am Check Earnings Report
Company Research Source: Financial Post
CALGARY, Alberta, Jan. 06, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or “the Company”) (TSX:PD; NYSE:PDS) provides a series of announcements including: 1) An introduction to its capital allocation framework through 2025; 2) 2021 debt reduction and year-end liquidity updates; and 3) Operations update for drilling activity, Alpha™ technologies and EverGreen™ solutions. Capital Allocation Framework Through 2025 Dressing your dog for the winter Precision's debt reduction plans will continue with the goal of repaying over $400 million in debt over the next four years and reaching a sustained Net Debt to Adjusted EBITDA ratio of below 1.5 times. At the end of 2025, Precision expects to have reduced debt by well over $1 billion since 2018. In addition to debt reduction targets through 2025, Precision plans to allocate 10% to 20% of free cash flow before debt principal repayments toward the return of capital to shareholders. Precision will continue to support Show less Read more
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