Precision Drilling Corporation (PDS) Q3 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and thank you for standing by. Welcome to the Precision Drilling Corporation 2023 Third Quarter Conference Call. I would now like to hand the conference over to LaVon Sedunic, Director of Investor Relations. Please go ahead. Welcome to Precision's Third Quarter Earnings Conference Call and webcast. Participating on today's call with me will be Kevin Neveu, President and CEO, and Kerry Ford, our CFO. Earlier this morning, Precision reported strong third quarter results, which Kerry will review with you, followed by an operational update and outlook commentary from Kevin. Once we have finished our prepared comments, we will open the call to questions. Some of our comments today will refer to non-IFRS financial measures and will include forward-looking statements, which are subject to a number of risks and uncertainties. Please see our news release and other regulatory filings for more information on financial measures, forward-looking statements, and risk factors. As a reminder, we express our financial results in Canadian dollars unless otherwise indicated. Before I pass the call over to Kevin and Kerry, I would like to remind listeners of our CWC energy services acquisition, which we announced in early September. This acquisition will position Precision as the premier well service provider in Canada and bolster our drilling operations in both the US and Canada. With the acquisition, Precision adds to its marketed fleet 62 service rigs and seven drilling rigs in Canada, plus 11 drilling rigs in the US, which includes seven AC triples. We expect this acquisition to close within the next couple of weeks and generate accretive cash flow on a per share basis in 2024. With that, I'll pass it over to Kerry. Thank you, Yvonne. Precision's Q3 financial results refle...