CALGARY – Shares in Precision Drilling Corp. are down after it reported a fourth-quarter loss.
The Calgary-based oil and gas driller says its net loss attributable to shareholders was $41.9 million for the three months ended Dec. 31, or $3.23 per share.
During the same period a year earlier, Precision posted a $14.8 million profit worth $1.06 per share.
Precision says it took a $67-million non-cash asset charge related to decommissioning 31 of its 215 marketable drilling rigs that were no longer aligned with its advanced technology and performance standards.
Revenues for the quarter were $478.5 million, up from a year-earlier $468.2 million.
Precision’s shares fell $8.80, or more than seven per cent, to $113.71 in late morning trading on the TSX.
This report by The Canadian Press was first published Feb. 12, 2026.
Companies in this story: (TSX:PD)