<SEC-DOCUMENT>0001171843-17-007235.txt : 20171122
<SEC-HEADER>0001171843-17-007235.hdr.sgml : 20171122
<ACCEPTANCE-DATETIME>20171122083029
ACCESSION NUMBER:		0001171843-17-007235
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20171122
FILED AS OF DATE:		20171122
DATE AS OF CHANGE:		20171122

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:		171218415

	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>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_112217.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">UNITED STATES</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Washington, D.C. 20549</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">FORM 6-K</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">REPORT OF FOREIGN PRIVATE
ISSUER</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Pursuant to Section 13a-16
or 15d-16 of the</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Securities Exchange Act
of 1934</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">For the month of,
November 2017</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Commission File Number: 001-14534</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Precision Drilling Corporation</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">800, 525 - 8 Avenue S.W.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Calgary, Alberta</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Canada T2P 1G1</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Address of principal executive offices)</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt">Indicate by check mark
whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">Form 20-F ____&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form
40-F <U>&#160;&#160; X&#160;&#160;&#160; </U></P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt">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). ____</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt">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): ____</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font-size: 10pt; text-align: left; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">SIGNATURE</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 36pt; margin-top: 0pt; margin-bottom: 0pt">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.</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Dated: November 22, 2017</FONT></TD>
    <TD COLSPAN="2"><B>PRECISION DRILLING CORPORATION</B></TD></TR>
<TR>
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">By: <FONT STYLE="font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal">/s/Carey T Ford</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>Name: Carey T Ford</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: Senior Vice President and Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR>
    <TD STYLE="width: 6%; text-decoration: underline"><U>Exhibit </U></TD>
    <TD STYLE="width: 94%; text-decoration: underline"><U>DESCRIPTION</U></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><A HREF="exh_991.htm">99.1</A></TD>
    <TD><A HREF="exh_991.htm">PRECISION DRILLING ANNOUNCES EARLY RESULTS OF CASH TENDER OFFERS AND CONSENT SOLICITATIONS</A></TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: left"><IMG SRC="image_001.jpg" ALT="" STYLE="width: 113px; height: 114px">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; line-height: 107%; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0 0 8pt"><FONT STYLE="text-transform: uppercase"><B>NEWS RELEASE </B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0 0 8pt"><FONT STYLE="text-transform: uppercase"><B>PRECISION DRILLING ANNOUNCES
early results of<BR>
cash tender OfferS and consent SOLICITATIONS<BR>
<BR>
</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0 0 8pt">Calgary, Alberta, Canada &ndash; November 22, 2017</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Precision Drilling Corporation (&ldquo;Precision&rdquo;) announced
today the early results of its previously announced cash tender offers for any and all of its outstanding 6.625% Senior Notes due
2020 (the &ldquo;2020 Notes&rdquo;) and up to US$70,000,000 (the &ldquo;Tender Cap&rdquo;) of its outstanding 6.500% Senior Notes
due 2021 (the &ldquo;2021 Notes&rdquo; and, together with the 2020 Notes, the &ldquo;Notes&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"><B>Early Tender Results</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">As of 5:00 p.m., New York City time, on November 21, 2017 (the
&ldquo;Early Tender Date&rdquo;), Precision had received valid tenders from holders of the Notes as outlined in the table below.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; text-align: center"><B>Title of Notes</B></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: center"><B>Aggregate <BR>
Principal <BR>
Amount <BR>
Outstanding</B></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: center"><B>Principal <BR>
Amount <BR>
Tendered<SUP>(1)</SUP></B></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; text-align: center"><B>Principal <BR>
Amount <BR>
Accepted</B></TD>
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid; text-align: center"><B>Aggregate <BR>
Principal Amount <BR>
to be Outstanding <BR>
after Early <BR>
Settlement</B></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: center"><B>Approximate<BR>
 Proration <BR>
Factor</B></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; text-align: center"><B>Total <BR>
Consideration <BR>
per $1,000 <BR>
Principal <BR>
Amount of <BR>
Notes<SUP>(2)</SUP></B></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">6.625% Senior <BR>
Notes due 2020</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$371,751,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$310,224,487</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$310,224,487</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$61,526,513</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$1,015.00</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">6.500% Senior <BR>
Notes due 2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$318,625,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$216,337,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$70,000,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$248,625,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">32.36%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">US$1,025.00</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">(1) Based on information received from D.F. King &amp; Co., Inc.,
the Tender Agent and Information Agent in connection with the tender offers,</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">(2) Includes an early tender premium of US$30.00 per $1,000 principal
amount of Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">(3) The aggregate principal amount of 2020 Notes outstanding reflected
in this press release has been adjusted to reflect a pro rata partial principal paydown of US$250,000,000 made to holders of the
2020 Notes by Precision on December 4, 2016. Unlike a partial redemption, a pro rata partial principal paydown does not result
in a cancellation of the notes paid down. As a result, while the remaining principal balance to be paid on the 2020 Notes as of
the date of this press release is US$371,751,000, the global notes representing the 2020 Notes still reflect a face amount of US$621,751,000
(the &ldquo;2020 Notes Face Amount&rdquo;). In order to calculate the Tender  Consideration, Early Tender  Premium and
Total Consideration with respect to the 2020 Notes based on the 2020 Notes Face Amount, a holder would have to multiply the amounts
in the table above by a factor of 0.597909.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Precision intends to accept for purchase all of the 2020 Notes
and US$70,000,000 aggregate principal amount of the 2021 Notes (subject to pro-ration), validly tendered (and not validly withdrawn)
on or before the Early Tender Date, subject to all conditions to the tender offers having been either satisfied or waived by Precision.
The amount of 2021 Notes that is to be purchased from each holder on the Early Settlement Date will be determined in accordance
with the proration procedures described in the Offer to Purchase and Consent Solicitation Statement, as supplemented. These Notes
will be purchased on the &ldquo;Early Settlement Date,&rdquo; which will be determined at Precision&rsquo;s option and is currently
expected to occur on November 22, 2017, subject to all conditions to the tender offers having been either satisfied or waived by
Precision. Precision intends to finance the purchase of the Notes tendered and accepted in the tender offers as of the Early Settlement
Date with proceeds from the closing of Precision&rsquo;s private placement of unsecured senior notes due 2026 (the &ldquo;New Notes
Offering&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">2021 Notes tendered in the tender offers that have not been accepted
for purchase due to proration will be returned promptly to the tendering holders. Payments for Notes purchased will include accrued
and unpaid interest from and including the last interest payment date applicable to the relevant series of Notes up to, but not
including, the Early Settlement Date.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"><B>Consent Solicitations</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Concurrent with the tender offers, Precision is also soliciting
consent from the holders of its 2020 Notes for proposed amendments (the &ldquo;Proposed Amendments&rdquo;) to the terms of the
2020 Notes to reduce the minimum notice period required in connection with redemption of the 2020 Notes from 30 days to 3 business
days and to eliminate substantially all of the restrictive covenants and certain events of default in the related indenture. As
of the Early Tender Date, holders of US$310,224,487 aggregate principal amount of 2020 Notes, representing 83.45% of the outstanding
2020 Notes, had validly tendered their 2020 Notes (the &ldquo;Tendered 2020 Notes&rdquo;) and had submitted related consents. As
a result, the number of consents required to approve the Proposed Amendments have been received. After giving effect to the purchase
of the Tendered 2020 Notes, US$61,526,513 aggregate principal amount of 2020 Notes remain outstanding as of November 21, 2017.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"><B>Tender Expiration</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">The tender offers will expire at 12:00 midnight New York City
time, at the end of the day on December 6, 2017, unless extended (such date and time, as it may be extended, the &ldquo;Expiration
Date&rdquo;) or earlier terminated by Precision. For the avoidance of doubt, as used in this news release, midnight on a particular
day refers to the time one minute after 11:59 p.m. on such day. As the Tender Cap for the 2021 Notes has been reached, no 2021
Notes that are tendered after the Early Settlement Date will be accepted for payment. Holders who validly tender, and do not validly
withdraw, their 2020 Notes on or prior to the Expiration Date will receive US$985.00 per US$1,000 principal amount of 2020 Notes,
plus accrued and unpaid interest up to, but not including, the date of payment for the 2020 Notes accepted for payment.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"><B>Planned Redemption of 2020 Notes</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Precision plans to notify holders of its 2020 Notes on November
22, 2017 that it intends to redeem all 2020 Notes that remain outstanding after the Expiration Date, with such redemption expected
to occur on December 7, 2017 (the &ldquo;2020 Notes Redemption&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"><B>Terms and Conditions of Tender Offers</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Upon repurchase or redemption, the 2020 Notes and such 2021 Notes
will be cancelled.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Full details of the terms and conditions of the tender offers
are included in the Offer to Purchase and Consent Solicitation Statement dated November 8, 2017, as supplemented.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Precision has retained RBC Capital Markets, LLC to act as the
dealer manager for the tender offers and as solicitation agent for the consent solicitation. Questions regarding the tender offers
may be directed to RBC Capital Markets, LLC at (877) 381-2099 (toll-free) and (212) 618-7843 (collect). Requests for the Offer
to Purchase and Consent Solicitation Statement and other documents relating to the tender offers may be directed to D.F. King &amp;
Co., Inc., the Tender Agent and Information Agent in connection with the tender offers, at (800) 676-7437 (toll-free).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">None of Precision, any member of its Board of Directors, the Dealer
Manager and Solicitation Agent or the Tender Agent and Information Agent is making any recommendation to holders as to whether
to tender or refrain from tendering their 2020 Notes into the tender offer. Holders must decide whether they will tender and, if
so, how many 2020 Notes they will tender.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The tender offers are only being made pursuant to the tender offer documents, including the Offer to Purchase and Consent Solicitation
Statement and the related Consent and Letter of Transmittal that Precision is distributing to holders of the Notes. The tender
offers are not being made to holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with
the securities, blue sky or other laws of such jurisdiction.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND
STATEMENTS</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Certain statements contained in this news release relating to
matters that are not historical facts constitute &ldquo;forward-looking information&rdquo; within the meaning of applicable Canadian
securities legislation and &ldquo;forward-looking statements&rdquo; within the meaning of the &ldquo;safe harbor&rdquo; provisions
of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, &ldquo;forward-looking information and statements&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Forward-looking information and statements in this news release
include, but are not limited to, the timing and completion of the proposed tender offers, whether the New Notes Offering and/or
the 2020 Note Redemption are completed on the terms specified or at all and Precision&rsquo;s use of the net proceeds from the
New Notes Offering. Forward-looking information and statements are based on certain expectations and assumptions made by Precision,
including the assumption that the tender offers 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 risk that the New Notes Offering, the tender offers and/or the 2020 Note Redemption will not be completed
as proposed or at all 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 risk factors that could affect Precision&rsquo;s
operations, financial results and the completion of the offering are discussed in Precision&rsquo;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).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid">&nbsp;</DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">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.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0"><U>About Precision</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">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, camps, rental equipment, and wastewater treatment units backed by
a comprehensive mix of technical support services and skilled, experienced personnel.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Precision is headquartered in Calgary, Alberta, Canada. Precision is
listed on the Toronto Stock Exchange under the trading symbol &ldquo;PD&rdquo; and on the New York Stock Exchange under the trading
symbol &ldquo;PDS&rdquo;.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">For further information, please contact:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Carey Ford</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0">Senior Vice President &amp; Chief Financial Officer</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0">713.435.6247</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Ashley Connolly, CFA</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0">Manager, Investor Relations</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0">403.716.4725</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 6pt 0 0">Precision Drilling Corporation</P>

<P STYLE="font-size: 10pt; margin: 0">Suite 800, 525 &ndash; 8th Avenue S.W.</P>

<P STYLE="font-size: 10pt; margin: 0">Calgary, Alberta, Canada T2P 1G1</P>

<P STYLE="font-size: 10pt; margin: 0">Website: www.precisiondrilling.com</P>

<P STYLE="font-size: 10pt; line-height: 13pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font-size: 10pt; line-height: 13pt; text-align: justify; margin: 0pt 0"></P>



<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
