CALGARY, Alberta – Precision Drilling Corporation (NYSE:PDS), a company specializing in drilling oil and gas wells, announced today that it has achieved its debt repayment and share repurchase goals set for the year 2024.
The company also provided updates on its capital allocation, as well as financial and operational strategies.
In a recent filing with the Securities and Exchange Commission, the Calgary-based firm stated that it had successfully met its debt reduction targets, which is a significant step in strengthening its balance sheet. Additionally, Precision Drilling has completed the share repurchase program it had previously announced, signaling confidence in the company's financial health and a commitment to delivering value to its shareholders.
Alongside these accomplishments, Precision Drilling outlined its capital allocation strategy, which includes continued investment in high-performance drilling technology, with a focus on operational efficiency and environmental responsibility. The company aims to maintain its competitive edge by investing in equipment and technologies that meet the evolving needs of the energy industry.
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