Financial Data and Key Metrics Changes - Precision Drilling reported an adjusted EBITDA of CAD 102 million for Q1 2020, a decrease of 6% compared to Q1 2019, primarily due to a 30% reduction in U.S. activity, offset by a 33% increase in Canadian drilling activity [19][20] - The company's long-term debt position, net of cash, is approximately CAD 1.4 billion, with total liquidity exceeding CAD 800 million [23] - The net debt to trailing 12-month EBITDA ratio stands at approximately 3.6x, with an average cost of debt at 6.8% [23] Business Line Data and Key Metrics Changes - In the U.S., drilling activity averaged 55 rigs, a decrease of 8 rigs from Q4 2019, with daily operating margins of USD 9,344, down USD 532 from Q4 [19] - Canadian drilling activity averaged 63 rigs, an increase of 15 rigs from Q1 2019, with daily operating margins of CAD 7,205, down CAD 1,317 from Q1 2019 [20] - Internationally, drilling activity increased by 1% from Q1 2019, with average day rates rising to USD 54,294, an increase of USD 4,354 from the prior year [21] Market Data and Key Metrics Changes - Precision's U.S. market share increased to 58 rigs in late February, holding that level until late March, before declining due to oil price volatility [32] - In Canada, the company peaked at 83 rigs running in late January, maintaining a market share of approximately 32% [33] - As of the end of March, Precision had 15 rigs active in Canada, with current activity down to 11 rigs, reflecting historic lows for the Canadian segment [36] Company Strategy and Development Direction - The company is focused on preserving cash and maximizing liquidity during the downturn, with expected cash savings exceeding CAD 100 million this year [13][18] - Precision is prioritizing operational excellence and technology commercialization, with ongoing initiatives like AlphaAutomation and AlphaAnalytics to enhance efficiency [29][30] - The company plans to maintain a strong liquidity position and resume debt repayments when visibility improves [23][27] Management's Comments on Operating Environment and Future Outlook - Management expressed that the current downturn is the deepest and toughest experienced, with a focus on financial and competitive positioning [26] - The company anticipates a continued decline in industry activity, particularly in the U.S., with expectations of settling in the low 30s for rigs for the remainder of Q2 [35] - Management noted that while there is uncertainty, they are well-positioned to manage through low customer demand and are focused on cash generation [28][36] Other Important Information - The Canadian federal government announced a CAD 1.7 billion funding program for well abandonments, which is expected to significantly impact Precision's well service business [42][93] - The company has implemented cost-saving initiatives, including workforce reductions and slashing travel and entertainment budgets [17][18] Q&A Session Summary Question: Can you elaborate on the recent changes in customer discussions regarding activity levels? - Management indicated that discussions have shifted from reducing activity to implementing previously made decisions, with a focus on stability in drilling due to hedged customers and natural gas drilling [46][47] Question: Is there a possibility of the rig count bottoming in Q2? - Management refrained from calling a bottom but suggested that customer planning is complete, and they will start looking into Q3 after their disclosure period [52][54] Question: What is the company's comfort level with its financial position compared to previous downturns? - Management expressed confidence in their ability to manage costs and maintain free cash flow, emphasizing the importance of liquidity access [58][60] Question: How does the company view pricing pressures from customers? - Management acknowledged that procurement teams are applying pressure on pricing, but they remain disciplined in justifying their value [73][88] Question: What impact does the federal funding program have on the well service segment? - Management expects to garner a significant share of the funding, potentially leading to a material change in their well service business [92][93]

Precision Drilling Corp (NYSE:PDS) Q4 2019 Results Earnings Conference Call February 13, 2019 2:00 PM ET Company Participants Dustin Honing - Manager Investor Relations Kevin Neveu - President and Chief Executive Officer Carey Ford - Senior Vice President and Chief Financial Officer Conference Call Participants Kurt Hallead - RBC Capital Connor Lynagh - Morgan Stanley Waqar Syed - Autocat Capital Taylor Zurcher - Tudor, Pickering Sean Meakim - JP Morgan J.B. Lowe - Citi Ian Gillies - Stifel Blake Gendron - ...

Precision Drilling Corp (NYSE:PDS) Q3 2019 Results Earnings Conference Call October 24, 2019 2:00 PM ET Company Participants Dustin Honing - Manager Investor Relations Kevin Neveu - President and Chief Executive Officer Carey Ford - Senior Vice President and Chief Financial Officer Shuja Goraya - Chief Technology Officer Conference Call Participants Kurt Hallead - RBC James West - Evercore ISI Sean Meakim - JPMorgan Connor Lynagh - Morgan Stanley Taylor Zurcher - Tudor, Pickering, Holt J.B. Lowe - Citi John ...

Precision Drilling Corporation (NYSE:PDS) Q2 2019 Results Conference Call July 25, 2019 2:00 PM ET Company Participants Dustin Honing - Investor Relations Kevin Neveu - President and Chief Executive Officer Carey Ford - Senior Vice President and Chief Financial Officer Conference Call Participants Sean Meakim - JPMorgan Connor Lynagh - Morgan Stanley J. B. Lowe - Citigroup Taylor Zurcher - Tudor, Pickering, Holt & Co. Waqar Syed - AltaCorp Capital Kurt Hallead - RBC Capital Markets Greg Coleman - National B ...

*Rig 576, Loving County TX, Permian Basin TSX: PDTSX: PD NYSE: PDS NYSE: PDS | 1 PRECISION DRILLING CORPORATION July 2019 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" ...

Precision Drilling Corporation (NYSE:PDS) Q1 2019 Earnings Conference Call April 25, 2019 2:00 PM ET Company Participants Ashley Connolly - Investor Relations Kevin Neveu - President & Chief Executive Officer Carey Ford - SVP & Chief Financial Officer Conference Call Participants Sean Meakim - JP Morgan Kurt Hallead - RBC Taylor Zurcher - Tudor, Pickering, Holt J.B. Lowe - Citi Connor Lynagh - Morgan Stanley John Watson - Simmons Ian Gillies - GMP Jon Morrison - CIBC Capital Markets Operator Good day, ladie ...

*Rig 576, Loving County TX, Permian Basin TSX: PDTSX: PD NYSE: PDS NYSE: PDS | 1 PRECISION DRILLING CORPORATION February 2019 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 informat ...