Precision Drilling reported Q4 adjusted EBITDA of $126 million, with a net loss of $42 million due to one-time charges. The company reduced net debt by CAD 101 million in 2025 and repurchased CAD 76 million of shares. For 2026, Precision anticipates strong Canadian activity, steady U.S. rigs, and international growth while prioritizing free cash flow and shareholder returns. In the U.S., Precision increased rig count in 2025 despite lower industry activity levels, citing upgrades and digital offerings as driving factors. Internationally, Precision saw lower rig counts but higher day rates due to fewer non-billable days. The completion and production segment saw increased demand in Canada offsetting U.S. operations. Precision reduced debt by CAD 101 million in 2025 and repurchased CAD 76 million of shares. For 2026, Precision budgeted CAD 245 million in capex, with a focus on free cash flow generation and investor returns. Precision expects to have a peak of 87 rigs in Canada for Q1 2026 with operating margins of CAD 14k-15k/day. In the U.S., Precision anticipates 37 active rigs with margins of $8k-9k/day for Q1 2026. Internationally, Precision expects to run seven rigs with lower margins due to one Kuwait rig coming down. Precision aims to expand customer relationships and revenue growth, focusing on free cash flow generation and high-performance service. In Canada, Precision exceeded peak activity from the previous year, maintaining strong activity levels. In the U.S., Precision is exploring growth opportunities in various basins. Precision discussed plans for Kuwait, Saudi Arabia, and Argentina, outlining strategies for rig deployments and revenue streams. Precision addressed charges related to decommissioning and drill pipe, emphasizing industry trends and fleet capabilities. Precision Drilling Corporation, founded in 1951, offers a range of drilling solutions and services for the oil and gas industry globally.

Read more at Yahoo Finance: Precision Drilling Q4 Earnings Call Highlights