Stocks in play: Precision Drilling Corporation

Barchart · 5d ago

Provided a series of positive announcements including: 1) 2024 debt repayment and year end liquidity update; 2) capital allocation framework update. 2024 Debt Repayment and Year End Liquidity Update. Precision reduced debt by $176 million in 2024, achieving the mid-point of its debt reduction target range. As at December 31, 2024, Precision’s outstanding debt obligations included:• US$160 million – 7.125% unsecured senior notes due January 15, 2026• US$400 million – 6.875% unsecured senior notes due January 15, 2029• US$12 million drawn on the Senior Credit FacilityThe Company ended 2024 with a cash balance of approximately $74 million, compared to $54 million at year end 2023, and total available liquidity of approximately $575 million. Precision Drilling Corporation shares T.PD are trading $1.44 at $92.25.