Precision Drilling PDS

Precision Drilling Corporation is a provider of contract drilling and completion and production services to the oil and natural gas industry. The company operates primarily in Canada, the United States, and select international locations, offering onshore well drilling services and related oilfield support. Its core activities include land drilling, well completion, workover services, and the provision of rental equipment and technical support.

Precision Drilling Corporation generates revenue through its service offerings, primarily charging customers for drilling rig usage, completion and production services, and equipment rentals. The company serves exploration and production companies engaged in oil, natural gas, and geothermal activities. Revenue is derived from contractual agreements based on day rates, service fees, and utilization of its fleet and support infrastructure.

The company operates through the following segments: Contract Drilling Services and Completion and Production Services.

• Contract Drilling Services: This segment operates land drilling rigs in Canada, the U. S., and internationally to provide onshore well drilling services. At December 31, 2025, the segment consisted of 184 land drilling rigs, including 95 in Canada, 80 in the U. S., six in Kuwait, and three in the Kingdom of Saudi Arabia. The segment also includes engineering, manufacturing, and repair services, centralized procurement and distribution of consumable supplies, and offerings from Alpha TM technologies such as AlphaAutomation TM , AlphaApps TM , and AlphaAnalytics TM , as well as the EverGreen TM suite of environmental solutions including BESS units, fuel monitoring systems, and dual-fuel and natural gas engines.
• Completion and Production Services: This segment provides completion, workover, and ancillary services to oil and natural gas exploration and production companies in Canada. At December 31, 2025, it consisted of 145 registered well completion and workover service rigs, more than 2,100 oilfield rental items, 96 wellsite accommodation units, and eight drill camps with four base camp dormitories. The segment offers services related to well completion, workover, camps, oilfield surface equipment rentals, and wellsite accommodations, primarily supporting customers in Canada.

Precision Drilling Corporation is positioned as one of the most active drillers in North America, with a leading market share in Canada and the fourth largest fleet of marketable rigs in the United States. The company differentiates itself through its Super Series land drilling rig fleet integrated with Alpha TM technologies and EverGreen TM environmental solutions, which together enhance safety, performance, and operational efficiency while reducing environmental impact. Its competitive advantage is further supported by vertically integrated operations, a performance-driven culture focused on safety and excellence, a resilient capital structure, and an inclusive corporate culture.

Precision Drilling Corporation serves oil and natural gas exploration and production companies as its primary customer base. These customers contract the company’s services for their exploration and development activities. While specific customer names are not disclosed in the filing, the company notes that in 2025, approximately 49% of its revenue came from its ten largest drilling customers and 23% from its three largest customers, indicating a concentrated but diversified client mix within the energy sector.