About Precision drilling rig fleet ratings
Precision is an OFS company that owns and operates a fleet of 214 onshore drilling rigs and 170 well service rigs in Canada, the U.S. and internationally, mainly in the Middle East.
Precision is an OFS company that owns and operates a fleet of 214 onshore drilling rigs and 170 well service rigs in Canada, the U.S. and internationally, mainly in the Middle East.
Fitch Ratings - Chicago - 23 Apr 2025: Fitch Ratings has affirmed Precision Drilling Corporation's (Precision) Long-Term Issuer Default Rating at 'BB-'. Fitch has also affirmed Precision's senior unsecured notes ratings at 'BB-' with a Recovery Rating of 'RR4' and the senior secured revolver rating.
ies drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as AlphaTM technologies that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results foenergy customers. Additionally, Precision offers.
RBC Capital has increased its price target for Precision Drilling (PDS) to C$100 from C$89, maintaining an "Outperform" rating. The adjustment reflects RBC's positive outlook on the company's growth potential. Precision Drilling specializes in contract drilling and completion services for oil and.
ultiple contracted rig upgrades and the strategic purchase of drill pipe for use in 2025. We expect to invest $225 million into our fleet and infrastructure in 2 million and repurchasing $75 million of common shares while building cash by $20 million. Precision h erm debt reduction target to $700.
Precision Drilling recently released its Q4 2024 and year-end financial results, providing insights into its performance across the U.S., Canada, and international markets. While U.S. operations faced headwinds, the company remains focused on efficiency improvements, technology integration, and.
Fitch Ratings - Chicago - 03 May 2023: Fitch Ratings has affirmed Precision Drilling Corporation's (Precision) Long-Term Issuer Default Rating (IDR) at 'B+'. Fitch has also affirmed Precision's senior secured revolver at 'BB+'/'RR1' and the senior unsecured ratings at 'B+'/'RR4'. The Rating Outlook.
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6 FAQs about [Precision drilling rig fleet ratings]
Who is precision rigs?
Precision is an OFS company that owns and operates a fleet of 214 onshore drilling rigs and 170 well service rigs in Canada, the U.S. and internationally, mainly in the Middle East. The principal sources of information used in the analysis are described in the Applicable Criteria.
Where are precision drilling rigs used?
These rigs are used in both onshore and offshore drilling operations. Geographic Presence: While Precision Drilling is based in Calgary, Alberta, Canada, it operates globally, with a significant focus on the North American market. The company has a presence in key oil and gas regions in Canada, the United States, and internationally.
Who is Precision Drilling?
Precision Drilling is one of the premiere onshore drilling companies in North America, we offer a wide range of High-Value services and innovative technologies to help make your next project safer and more efficient. The Precision Drilling rig locator map is updated weekly with the Precision Drilling rig locations. Click to Access Map
What is Precision Drilling Corporation's rating outlook?
The Rating Outlook is Stable. Precision Drilling Corporation's ratings reflect the company's execution on gross debt reduction initiatives, strong liquidity, manageable maturity profile and consistently positive FCF generation, which supports further gross debt reduction goals.
Is Precision Drilling Corporation a good stock to buy?
Fitch Ratings - Chicago - 23 Apr 2025: Fitch Ratings has affirmed Precision Drilling Corporation's (Precision) Long-Term Issuer Default Rating at 'BB-'. Fitch has also affirmed Precision's senior unsecured notes ratings at 'BB-' with a Recovery Rating of 'RR4' and the senior secured revolver rating at 'BB+'/'RR1'. The Rating Outlook is Stable.
Is precision a good rig contractor?
Precision's closest industry peer is Nabors Industries, Ltd. (Nabors; B-/Stable), which is also an onshore rig contractor with exposure to U.S. and international markets. Precision has lower leverage metrics and a much less significant maturity wall than Nabors, which drives the difference in ratings.