Precision Drilling Corporation Buyback
OLI recorded this information on 9/14/2023
Company: |
Precision Drilling Corporation |
Buyback: |
PDS buyback |
Share Amount Authorized: |
1,326,321 |
Buyback Details: |
Precision Drilling Corporation ("Precision" or the "Company") (TSX:PD; NYSE:PDS) announced today that the Toronto Stock Exchange (the "TSX") has approved its intention to implement a normal course issuer bid ("NCIB") for a portion of its common shares ("Common Shares"). Precision believes the NCIB continues to represent another tool for the Company to enhance the value of its underlying shares. Pursuant to the renewed NCIB, the Company has been authorized by the TSX to acquire up to a maximum of 1,326,321 Common Shares, or approximately 10% of the public float as of September 5, 2023 for cancellation. Purchases under the NCIB may commence on September 19, 2023 and will terminate no later than September 18, 2024, or such earlier time as the Company completes its purchases pursuant to the NCIB or provides notice of termination. |
Precision Drilling provides onshore drilling, completion and production services to exploration and production companies in the oil and natural gas and geothermal industries. Co. has two business segments: Contract Drilling Services, which provides onshore drilling services to exploration and production companies in the oil and natural gas and geothermal industries, operating in Canada, the U.S. and internationally; and Completion and Production Services, which provides well completion, workover, abandonment and re-entry preparation services to oil and natural gas exploration and production companies in Canada and the U.S.
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