Financial Data and Key Metrics Changes - Precision Drilling reported an adjusted EBITDA of CAD 64 million for Q4 2021, a 16% increase from Q4 2020, driven by higher North American activity [19] - The company aims to reduce debt by CAD 400 million over the next four years, targeting a net debt to EBITDA ratio below 1.5 times [18][28] - As of December 31, 2021, the long-term debt position net of cash was approximately CAD 1.1 billion, with total liquidity around CAD 530 million [27] Business Line Data and Key Metrics Changes - In the U.S., drilling activity averaged 45 rigs in Q4, up four rigs from Q3, with daily operating margins of USD 5,648, an increase of USD 410 from Q3 [20] - In Canada, drilling activity averaged 52 rigs, an 87% increase from Q4 2020, with daily operating margins of CAD 7,990, up CAD 1,095 from Q4 2020 [21][22] - Internationally, drilling activity averaged six rigs, with average day rates at USD 52,069, down approximately 6% from the prior year [23] Market Data and Key Metrics Changes - The global oil demand has almost fully recovered, leading to strong oil and gas prices, with a tight supply-demand equation [9][10] - Labor inflation and service price inflation are present, with day rates being adjusted to reflect these changes [11] - The Canadian market is experiencing strong producer economics, with Western Canada select trading at its highest level since April 2014 [39] Company Strategy and Development Direction - The company is focused on financial discipline and capital allocation, prioritizing returns to shareholders through share buybacks and potential dividends in the future [18][54] - Precision is enhancing its technological capabilities through the EverGreen suite, aimed at reducing GHG emissions and improving operational efficiency [12][51] - The company is not pursuing market share aggressively but is focused on economic returns for each rig opportunity [35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery cycle, noting that it is different from previous cycles due to capital discipline in the industry [15][16] - The company expects continued strong free cash flow generation in 2022, despite front-loaded capital expenditures [29] - Management anticipates that Q2 and Q3 activity levels could exceed those of Q1, barring any macroeconomic disruptions [132] Other Important Information - Capital expenditures for Q4 were CAD 28 million, with a total of CAD 76 million for the year, aligned with expectations for increased activity [25] - The 2022 capital plan is set at CAD 98 million, focusing on sustaining infrastructure and upgrading technology [26] - The company is experiencing strong demand in its well service group, with improved revenue and operating margins [44] Q&A Session Summary Question: How much of the day rate increase is due to cost inflation versus capturing more economic rent? - Management indicated that part of the increase is due to labor costs and reactivation costs, with the remainder attributed to margin expansion [59] Question: Have expectations for activity outlook in Canada and the U.S. changed? - Management confirmed a modestly more positive outlook for activity levels in both regions, reflecting stronger commodity prices [61] Question: What are the biggest constraints to growth currently? - Management noted that the company may run out of super-spec rigs during the year, indicating a high demand for their services [70] Question: What is the pricing perspective in Canada compared to the U.S.? - Management stated that pricing improvements in Canada are ahead of the U.S. market, driven by tighter utilization and labor challenges [84] Question: What is the framework for dividends versus buybacks in the capital return plan? - The initial focus will be on share buybacks, with dividends becoming more likely as the company approaches its target leverage level [120]

EXHIBIT 99.1 Precision Drilling Corporation Announces 2021 Fourth Quarter and Year-End Unaudited Financial Results CALGARY, Alberta, Feb. 10, 2022 (GLOBE NEWSWIRE) -- This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release ...

Financial Data and Key Metrics Changes - Precision Drilling reported an adjusted EBITDA of CAD 45 million for Q3 2021, which would have been CAD 59 million without a share-based compensation expense accrual of CAD 14 million [4] - The company received CAD 6 million in CEWS assistance payments, with a total impact of approximately CAD 24 million for 2021 [5] - The long-term debt position net of cash was approximately CAD 1.1 billion, with total liquidity around CAD 500 million, excluding letters of credit [12] - Year-to-date debt reduction reached CAD 60 million, with expectations to achieve a total reduction of CAD 100 million to CAD 125 million for the year [13] Business Line Data and Key Metrics Changes - U.S. drilling activity averaged 41 rigs in Q3, an increase of 2 rigs from Q2, with daily operating margins at USD 5,211, down USD 1,541 from Q2 [6] - Canadian drilling activity averaged 51 rigs, a significant increase from Q3 2020, with daily operating margins at CAD 6,238, down CAD 2,268 from Q3 2020 [8] - International operations averaged 6 rigs, with average day rates at USD 52,277, down USD 2,610 from the prior year [9] - The C&P segment reported adjusted EBITDA of CAD 5.4 million, up CAD 1.5 million compared to the prior year quarter, driven by a 107% increase in Well Service hours [10] Market Data and Key Metrics Changes - The U.S. market is experiencing a dwindling inventory of uncompleted wells, indicating a need for operators to shift focus back to drilling [20] - In Canada, the outlook is strengthening with key commodity prices suggesting peak industry demand could reach 250 to 300 rigs [31] - Internationally, activity remains steady, with ongoing contract renewals in Saudi Arabia and Kuwait [33][34] Company Strategy and Development Direction - The company is focused on capital discipline and sustainable shareholder returns, which are expected to lead to a healthier industry balance [19] - Precision is prioritizing environmental initiatives through the launch of the Precision EverGreen brand, aimed at reducing emissions and enhancing drilling performance [22][23] - The company is also expanding its Alpha digital technologies, with 46 rigs equipped and a 38% sequential increase in app activity [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in energy demand and favorable commodity prices, with expectations for increased drilling activity in 2022 [18][20] - The company is committed to maintaining pricing discipline, even if it means turning down work to achieve desired rates [29] - Management noted that while the global energy transition is underway, hydrocarbons will remain a critical part of the energy supply chain for the foreseeable future [21] Other Important Information - Capital expenditures for the quarter were CAD 20 million, with a full-year guidance increase to CAD 74 million due to opportunistic purchases [11] - The company expects normalized margins in Q4 to be USD 1,500 to USD 2,000 higher than Q3 [7] Q&A Session Summary Question: How is the company managing labor cost inflation? - Management indicated that contracts have provisions to pass labor cost inflation to customers, and they are actively working on recruiting strategies to mitigate these pressures [41][42] Question: What is the outlook for rig count and pricing power? - Management noted that while they are currently operating 45 rigs, they expect to exceed 50 by year-end, with a strong focus on pricing discipline [70] Question: What are the expectations for well abandonment programs? - The well servicing program is expected to continue until the end of next year, with traditional demand likely to replace any lost work once the program concludes [72] Question: How is the company addressing international rig reactivations? - Management stated that reactivating rigs internationally would incur lower operational costs compared to capital expenditures, with a focus on the Arabian Gulf region [65][74]

Precision Drilling Corporation (NYSE:PDS) Q2 2021 Earnings Conference Call July 22, 2021 2:00 PM ET Company Participants Dustin Honing - Director, Investor Relations and Corporate Development Kevin Neveu - President and Chief Executive Officer Carey Ford - Senior Vice President and Chief Financial Officer Conference Call Participants Ian Macpherson - Piper Sandler Taylor Zurcher - Tudor, Pickering and Holt Aaron MacNeil - TD Securities J.B. Lowe - Citi Cole Pereira - Stifel Waqar Syed - ATB Markets Sean Mit ...

| --- | --- | --- | |-------|-------|---------------------------------| | | | | | | | | | | | | | | | | | | | Precision Drilling | | | | Investor Presentation June 2021 | © PRECISION DRILLING CORPORATION1 FORWARD-LOOKING STATEMENTS Certain statements contained in this report, including statements that contain words such as "could", "should", "can", "anticipate", "estimate", "intend", "plan", "expect", "believe", "will", "may", "continue", "project", "potential" and similar expressions and statements relatin ...

Precision Drilling Corporation (NYSE:PDS) Q1 2021 Earnings Conference Call April 22, 2021 2:00 PM ET Company Participants Dustin Honing - IR and Corporate Development Kevin Neveu - President and CEO Carey Ford - SVP and CFO Conference Call Participants Taylor Zurcher - Tudor Pickering & Holt Waqar Syed - ATB Capital Markets Cole Pereira - Stifel John Daniel - Daniel Energy Partners Keith Mackey - RBC Capital Markets Jeff Fetterly - Peters & Company Operator Ladies and gentlemen, thank you for standing by, a ...

DRILLING Innovation & Technology Excellence CHAMPION PRECISION DRILLING CORPORATION February 2021 Forward-looking Statements Certain statements contained in this report, including statements that contain words such as "could", "should", "can", "anticipate", "estimate", "intend", "plan", "expect", "believe", "will", "may", "continue", "project", "potential" and similar expressions and statements relating to matters that are not historical facts constitute "forward-looking information" within the meaning of a ...

Precision Drilling Corporation (NYSE:PDS) Q4 2020 Results Conference Call February 10, 2021 2:00 PM ET Company Participants Dustin Honing - Manager, IR and Corporate Development Kevin Neveu - President and CEO Carey Ford - SVP and CFO Conference Call Participants Taylor Zurcher - Tudor, Pickering, Holt Connor Lynagh - Morgan Stanley Keith Mackey - RBC Cole Pereira - Stifel Aaron MacNeil - TD Securities Blake Gendron - Wolfe Research Operator Ladies and gentlemen, thank you for standing by, and welcome to th ...

Precision Drilling Corp (NYSE:PDS) Q3 2020 Earnings Conference Call October 22, 2020 2:00 PM ET Company Participants Dustin Honing - Manager, IR Carey Ford - SVP & CFO Kevin Neveu - President, CEO & Director Conference Call Participants Taylor Zurcher - Tudor, Pickering, Holt & Co. Aaron MacNeil - TD Securities Kurt Hallead - RBC Capital Markets Cole Pereira - Stifel Blake Gendron - Wolfe Research John Gibson - BMO Capital Markets Jeffrey Fetterly - Peters & Co. Limited Operator Ladies and gentlemen, thank ...

Financial Data and Key Metrics Changes - Precision Drilling reported an adjusted EBITDA of CAD 58 million for Q2 2020, a decrease of 28% compared to Q2 2019, primarily due to a sharp decline in drilling activity [12][10]. - The company expects cash savings for the year to reach up to CAD 150 million, an increase from the previous guidance of over CAD 100 million [10][11]. - As of June 30, 2020, the long-term debt position net of cash was CAD 1.275 billion, with total liquidity of approximately CAD 900 million [20]. Business Line Data and Key Metrics Changes - In the U.S., drilling activity averaged 30 rigs, a decrease of 25 rigs from Q1 2020, with daily operating margins of USD 15,198, an increase from Q1 [14]. - In Canada, drilling activity averaged 9 rigs, down 18 rigs from Q2 2019, with daily operating margins at CAD 9,042, an increase from Q2 2019 [15]. - The Completion and Production segment reported an adjusted EBITDA of negative CAD 1.2 million, down CAD 4 million compared to the prior year, impacted by a significant decline in well service activity [17]. Market Data and Key Metrics Changes - Internationally, drilling activity averaged 8 rigs, consistent with Q2 2020, with average day rates of USD 54,779, up from Q1 and the prior year [16]. - The company has maintained a strong market share in the Montney and Duvernay plays, reaching nearly 50% of the active fleet in those areas [31]. Company Strategy and Development Direction - The company is focusing on cost reduction and cash preservation, with a target of reducing fixed costs by 35% [10]. - Precision is leveraging its Alpha Technologies suite to enhance operational efficiency and drive market share growth [33][48]. - The company aims to generate free cash flow and maintain liquidity while reducing debt, with a long-term goal of CAD 700 million in debt reduction by 2022 [22]. Management's Comments on Operating Environment and Future Outlook - Management noted that the oil service sector has faced significant challenges, with customer demand and drilling activity sharply declining [27]. - There is cautious optimism as commodity prices recover, leading to improved customer sentiment and interest in technology [38]. - The company expects a muted seasonal rebound in Canada, with rig activity potentially moving towards the upper 20s by late Q3 [35]. Other Important Information - The company has reduced its capital expenditures for 2020 to CAD 48 million, a decrease of approximately 50% from initial guidance [18]. - Precision has been participating in the Canadian Emergency Wage Subsidy Program to retain jobs during the downturn [11]. Q&A Session Summary Question: What are the prospects for the acquisition of Canadian land drilling rigs? - Management indicated that free available capital for rig acquisitions is tight, making it hard to comment on another company's process [58]. Question: How is the traction with Alpha apps and technology adoption among customers? - Management noted that customers are increasingly using technology for remote operations, which has improved performance and efficiency [60]. Question: What are the prospects for idle rigs in the U.S.? - Management expressed confidence that customers would want to reactivate rigs if they have a drilling budget in 2021 [64]. Question: What is the expected working capital inflow for the second half of the year? - Management expects to convert an additional CAD 10 million to CAD 20 million in working capital by year-end [74]. Question: What is the company's strategy regarding debt repayment? - Management confirmed the intention to retire the 2021 notes fully by the end of the year, potentially using the credit facility for this purpose [107].