<SEC-DOCUMENT>0001102624-16-003605.txt : 20161108
<SEC-HEADER>0001102624-16-003605.hdr.sgml : 20161108
<ACCEPTANCE-DATETIME>20161108101623
ACCESSION NUMBER:		0001102624-16-003605
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20161108
FILED AS OF DATE:		20161108
DATE AS OF CHANGE:		20161108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRECISION DRILLING Corp
		CENTRAL INDEX KEY:			0001013605
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14534
		FILM NUMBER:		161980255

	BUSINESS ADDRESS:	
		STREET 1:		150 - 6TH AVENUE S.W.
		STREET 2:		SUITE 4200
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3Y7
		BUSINESS PHONE:		403-716-4500

	MAIL ADDRESS:	
		STREET 1:		150 - 6TH AVENUE S.W.
		STREET 2:		SUITE 4200
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3Y7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRECISION DRILLING TRUST
		DATE OF NAME CHANGE:	20051121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRECISION DRILLING CORP
		DATE OF NAME CHANGE:	19960506
</SEC-HEADER>
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<DESCRIPTION>PRECISION DRILLING CORPORATION 6-K
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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Securities Exchange Act of 1934</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the month of, November 2016</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Precision Drilling Corporation</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">800, 525 - 8 Avenue S.W.<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>Calgary, Alberta<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font> Canada T2P 1G1</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). <font style="FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&#160;<font style="FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>

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<td style="WIDTH: 50%">Dated:&#160;&#160;&#160;<strong>November 8, 2016</strong></td>
<td style="WIDTH: 50%"><strong>PRECISION DRILLING CORPORATION</strong></td>
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<div>By:<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>/s/ Carey T Ford&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>

<div>Name:&#160;&#160; Carey T Ford</div>

<div>Title:&#160;&#160;&#160;&#160; Senior Vice President &amp; Chief Financial Officer</div>
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<td style="WIDTH: 108pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right"><a href="exh99_1.htm#Exhibit99.1">99.1</a></td>
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<div style="text-align: left; line-height: 13.7pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">PRECISION DRILLING CORPORATION ANNOUNCES PRICING DETAILS OF REDEMPTION OF 2019 NOTES AND PARTIAL REDEMPTION OF 2020 NOTES</div>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<div style="TEXT-ALIGN: right; FONT-WEIGHT: bold"><a id="Exhibit99.1" name="Exhibit99.1"><!--Anchor--></a>Exhibit 99.1</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 16.1pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NEWS RELEASE<br>
<br>
 PRECISION DRILLING CORPORATION ANNOUNCES PRICING DETAILS OF REDEMPTION OF 2019 NOTES AND PARTIAL REDEMPTION OF 2020 NOTES</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 16.1pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Calgary, Alberta, Canada &#8211; November 8, 2016</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Precision Drilling Corporation ("Precision" or the "Company") (TSX: PD; NYSE: PDS) today announced that the Company has notified Computershare Trust Company of Canada, as agent for Valiant Trust Company the trustee under the trust indenture dated as of March 15, 2011, that Precision will redeem in cash all of the C$200 million outstanding principal amount of its 6.50% senior notes due 2019 (the "2019 Notes") in accordance with the terms of the 2019 Notes. The 2019 Notes will be redeemed and interest will cease to accrue on December 4, 2016. The total redemption amount payable for each C$1,000 principal amount of the 2019 Notes will be C$1,016.25, plus accrued and unpaid interest.</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Precision also today announced that the Company has notified The Bank of New York Mellon, as trustee under the trust indenture dated as of November 17, 2010, that Precision will redeem in cash on a pro rata basis US$250 million outstanding principal amount of its 6.625% senior notes due 2020 (the "2020 Notes") in accordance with the terms of the 2020 Notes. The partial redemption of the 2020 Notes will occur on December 4, 2016 and interest will cease to accrue on the redeemed 2020 Notes as of that date. The total partial redemption amount payable for each US$1,000 principal amount of the 2020 Notes will be US$410.968378, plus accrued and unpaid interest.</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Beneficial holders of the 2019 Notes and the 2020 Notes should contact their investment dealer if they have any questions about the redemptions.</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS<br>
<br>
 Certain statements contained in this news release relating to matters that are not historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking information and statements"). Forward-looking information and statements in this news release include, but are not limited to, statements regarding the Company's intention to complete the redemptions, proposed refinancing plans and related matters. Forward-looking information and statements are based on certain expectations and assumptions made by Precision, including the assumption that the redemptions will be completed as proposed. Although Precision believes that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward- looking information and statements as Precision cannot give any assurance that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks, which include, but are not limited to, the anticipated timing of the redemption and general economic, market and business conditions. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Additional information on these and other risks factors that could affect Precision's operations, financial results and the completion of the offering are discussed in Precision's annual information form and other disclosure documents on file with the Canadian securities commissions on SEDAR (www.sedar.com) and with the U.S. Securities and Exchange Commission on EDGAR (www.sec.gov).</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The forward-looking information and statements contained in this press release are made as of the date hereof and Precision does not undertake any obligation to update publicly or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>About Precision<br>
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</u>Precision is a leading provider of safe and High Performance, High Value services to the oil and gas industry. Precision provides customers with access to an extensive fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, coil tubing services, camps, rental equipment, and wastewater treatment units backed by a comprehensive mix of technical support services and skilled, experienced personnel.<br>
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Precision is headquartered in Calgary, Alberta, Canada.&#160; Precision is listed on the Toronto Stock Exchange under the trading symbol "PD" and on the New York Stock Exchange under the trading symbol "PDS".<br>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">For further information, please contact:<br>
<br>
 Carey Ford, Senior Vice President &amp; Chief Financial Officer</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Precision Drilling Corporation<br>
<br>
 403.716.4566</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">403.716.4755 (FAX)</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Suite 800, 525 &#8211; 8th Avenue S.W.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Calgary, Alberta, Canada T2P 1G1</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Website:&#160; www.precisiondrilling.com</div>

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