Precision Drilling: 3 Key Takeaways for Long-Term Investors

Precision Drilling reported Q3 2026 revenue of $532 million, up 15% year-over-year, driven by increased North American drilling activity. The company is leveraging contracted fleet upgrades to secure multiyear customer commitments, expanded its Canadian contract book from 16 to 28 rigs, and doubled active Permian Basin rigs to 16. Proprietary technologies Alpha and Evergreen are generating record financial performance. Management reduced debt by $75 million through nine months and plans to continue debt reduction while resuming share repurchases.