<SEC-DOCUMENT>0001171843-21-007048.txt : 20211021
<SEC-HEADER>0001171843-21-007048.hdr.sgml : 20211021
<ACCEPTANCE-DATETIME>20211021060512
ACCESSION NUMBER:		0001171843-21-007048
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20211021
FILED AS OF DATE:		20211021
DATE AS OF CHANGE:		20211021

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:		211335595

	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_102121.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<html><head><title></title></head><body style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><div align="center"><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;">&#160;</div></div><p style="font-size: 14pt;" align="center"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong></p><p style="font-size: 14pt; text-transform: uppercase;" align="center"><strong>Form 6-K</strong></p><p style="text-align: center;"><strong></strong></p><p style="text-align: center;"><strong>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</strong></p><p style="text-align: center;"><strong></strong><strong>For the month of October 2021</strong></p><p style="text-align: center;">Commission File Number: 001-14534</p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Precision Drilling Corporation</strong></font><br />(Translation of registrant's name into English)</p><p style="text-align: center;"><strong>800, 525 - 8 Avenue S.W.<br />Calgary, Alberta<br />Canada T2P 1G1</strong><br />(Address of principal executive office)</p></div><p>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.<br />Form 20-F [&#160;&#160; ] &#160;&#160;&#160;&#160;&#160;Form 40-F [&#160;X ]</p><p>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>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><hr style="page-break-after: always;" noshade="noshade" /><p style="text-align: center;"><strong>SIGNATURES</strong></p><p>Pursuant to the requirements 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><table style="font-family: Times New Roman; font-size: 10pt;" border="0" width="100%" cellspacing="0" cellpadding="0"><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td style="text-decoration: underline;" align="center" width="47%"><strong>&#160;&#160;&#160;&#160;Precision Drilling Corporation&#160;&#160;&#160;&#160;</strong></td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">(Registrant)</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">&#160;</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%"></td></tr><tr valign="top"><td width="47%">Date: <strong>October 21, 2021</strong></td><td width="6%">&#160;</td><td style="text-decoration: underline;" align="center" width="47%">&#160;&#160;&#160;&#160;/s/ Carey T Ford&#160;&#160;&#160;&#160;</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">Carey T Ford</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">Senior Vice President and Chief Financial Officer</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%"></td></tr></table><p><hr style="page-break-after: always;" noshade="noshade" /><p style="text-align: center;">&#160;</p><table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0"><tr><td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;">Exhibit</font></td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;">DESCRIPTION</font></td></tr><tr><td>&#160;</td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td><font style="font-size: 10pt;">&#160;</font></td></tr><tr><td style="vertical-align: top;"><font style="font-size: 10pt;"><a href="exh_991.htm">99.1</a></font></td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td style="vertical-align: top;"><strong><font style="font-size: 10pt;"><a href="exh_991.htm">PRECISION DRILLING CORPORATION ANNOUNCES 2021 THIRD QUARTER UNAUDITED FINANCIAL RESULTS</a> </font></strong></td></tr></table></p></body></html>
</TEXT>
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<TYPE>EX-99.1
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<FILENAME>exh_991.htm
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>Precision Drilling Corporation Announces 2021 Third Quarter Unaudited Financial Results</strong></font></p><p style="text-align: center;"><strong></strong></p><p>
 <p align="justify">CALGARY, Alberta, Oct.  21, 2021  (GLOBE NEWSWIRE) -- <em>This news release contains &#8220;forward-looking information and statements&#8221; within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the &#8220;Cautionary Statement Regarding Forward-Looking Information and Statements&#8221; later in this news release. This news release contains references to Adjusted EBITDA (earnings before income taxes, loss (gain) on repurchase of unsecured senior notes, gain on investments and other assets, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization), Covenant EBITDA, Operating Earnings (Loss), Funds Provided by (Used in) Operations and Working Capital. These terms do not have standardized meanings prescribed under International Financial Reporting Standards (IFRS) and may not be comparable to similar measures used by other companies, see &#8220;Non-GAAP Measures&#8221; later in this news release.</em><br ></p>  <p align="justify">Precision Drilling announces 2021 third quarter financial results:</p>  <ul type="disc"><li style="margin-top:6pt; text-align:justify;">Adjusted EBITDA (See &#8220;NON-GAAP MEASURES&#8221;) of $45 million. Excluding the impact of share-based compensation charges our Adjusted EBITDA was $59 million.</li><li style="margin-top:6pt; text-align:justify;">Revenue of $254 million was an increase of 54% compared with the third quarter of 2020.</li><li style="margin-top:6pt; text-align:justify;">Net loss of $38 million or $2.86 per share compared with a net loss of $28 million or $2.08 per share in the third quarter of 2020.</li><li style="margin-top:6pt; text-align:justify;">Generated cash and funds provided by operations (see &#8220;NON-GAAP MEASURES&#8221;) of $22 million and $34 million, respectively.</li><li style="margin-top:6pt; text-align:justify;">Third quarter ending cash balance was $57 million, with available liquidity of $500 million.</li><li style="margin-top:6pt; text-align:justify;">Third quarter and year to date debt reduction of $8 million and $60 million, respectively.</li><li style="margin-top:6pt; text-align:justify;">Third quarter capital expenditures were $20 million.</li><li style="margin-top:6pt; text-align:justify;">Recognized the Canadian government&#8217;s Canada Emergency Wage Subsidy (<strong>CEWS</strong>) program assistance of $6 million.</li></ul>  <p align="justify">Precision&#8217;s President and CEO Kevin Neveu stated:</p>  <p align="justify">&#8220;We believe current industry fundamentals are providing the most promising backdrop for our business that we have experienced in almost a decade. Strong oil and natural gas prices, a significantly improved Canadian market structure and rapidly declining drilled but uncompleted well inventories all point to higher drilling activity in our core markets. Although we are likely in the early innings, our firm bookings and current customer inquiries indicate substantially stronger demand for our services and improved fleet utilization as this rebound continues.&#8221;</p>  <p align="justify">&#8220;Our third quarter Adjusted EBITDA of $59 million, excluding share-based compensation, is a result of our continued focus on strict cost discipline, growing our Alpha revenue base and realizing improved spot pricing in our North American operations. Our results have begun to reflect the considerable operating leverage of Precision Drilling, although we expect the positive impact to be more pronounced in the coming quarters with increasing activity.&#8221;</p>  <p align="justify">&#8220;Our Alpha suite of digital technologies continues to act as both the tip of the spear with new customer relationships and as a means to strengthen existing customer relationships with retention levels of nearly 100% for Alpha customers over the past two years. We currently have 65 AC Super Triple rigs active in North America and nearly 40 of these rigs are running Alpha at commercial rates. During the quarter, we increased utilization days of AlphaAutomation, AlphaApps and AlphaAnalytics by 8%, 36% and 4%, respectively, compared to Q2. We continue to see our performance, consistency and scalability of Alpha as key competitive differentiators for Precision.&#8221;</p>  <p align="justify">&#8220;In the U.S., during the quarter, activity levels nearly doubled from the third quarter last year and increased 6% sequentially. We generated normalized average drilling day rate increases of approximately $700 and we expect this trend will continue. The higher daily operating costs experienced during the quarter were primarily a result of preparation for increased activity in the fourth quarter and certain mobilization costs which will be recovered over the next several months on contracted rigs. Our current active rig count in the U.S. is 45 rigs, slightly lower than our prior guidance due to some customer delays and the decision to decline certain opportunities based on lower price expectations by customers.&#8221;</p>  <p align="justify">&#8220;In Canada, our drilling activity was nearly triple our activity in the third quarter of 2020 and our 51 average active rigs during the quarter represented the highest third quarter average activity since 2018. We are operating 61 rigs today and believe the improved Canadian market structure is due to increased crude takeaway capacity, lower differentials and substantially improved customer cash flows allowing our customers to self-fund drilling programs while continuing to generate strong shareholder returns. Additionally, we expect the prospects of LNG exports materializing on the medium term will bolster the outlook for Canadian drilling activity.&#8221;</p>  <p align="justify">&#8220;We increased our 2021 capital spending plan to $74 million to support our improved activity outlook in North America. The increase primarily relates to advanced drill pipe purchases to take advantage of vendor discounts and lower cost vendor inventories that were secured early in the quarter and will address increased drill pipe needs into next year.&#8221;</p>  <p align="justify">&#8220;Our Completion and Production Services division continues to deliver strong operational and financial results. In particular, Precision Well Servicing is successfully differentiating itself by delivering high quality crews and High Performance, certified equipment to customer projects, while the broader industry is navigating the dual challenges of labor availability and equipment quality. For the quarter, the division generated Adjusted EBITDA of approximately $5 million.&#8221;</p>  <p align="justify">&#8220;Our international drilling operations continue at a steady pace with&#160;6 rigs active in Kuwait and the Kingdom of Saudi Arabia. During the quarter, we received extension notifications for two Kuwait rig contracts, each for one-year. Regional bidding activity is robust, and we see opportunities to activate several of our idle rigs in the region early next year and are confident in our likelihood of success.&#8221;</p>  <p align="justify">&#8220;During the third quarter, we introduced our Evergreen suite of environmental and emission-reduction focused products and services to complement our Super Series drilling rigs and Alpha digital offering. Recently, we successfully deployed our first Evergreen hybrid battery storage, natural gas and low emission power generating system to a Super Triple drilling rig in the Canadian market. The system reduces GHG emissions and fuel costs, helping our customer achieve their GHG emission-reduction targets and improving their well construction economics. Later this year, we expect to deploy three real-time combustion fuel monitoring packages, using AlphaAnalytics to determine precise baseline emission data. These accurate baselines will enable us to make customer-specific recommendations to further reduce rig-generated GHG emissions.&#8221;</p>  <p align="justify">&#8220;We remain focused on strict cost discipline and debt reduction and are on track to meet our debt reduction goal of $100 million to $125 million for 2021. In the quarter, cash from operations was $22 million, funds from operations were $34 million and debt reduction was $8 million with year to date debt reduction of $60 million. We expect cash flow to be strong in the fourth quarter as we have only $3 million in cash interest payments due and expect minimal working capital increases. With no senior note maturities until 2026 and approximately $500 million of available liquidity, our balance sheet remains in excellent shape to support our business activities and allow for further deleveraging through cash flow,&#8221; concluded Mr. Neveu.</p>  <p align="justify"><strong>SELECT FINANCIAL AND OPERATING INFORMATION</strong></p>  <p align="justify"><strong>Financial Highlights</strong></p> <table style="width:100%; border-collapse:collapse !important;;border-collapse: collapse; "><tr><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td colspan="10" style="border-top: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">For the three months ended September&#160;30,</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td colspan="10" style="border-top: solid black 1pt ; 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Drilling rig utilization days increased by 93% in the U.S. and 188% in Canada and well service activity increased 107% as compared with the third quarter of 2020. Our international drilling activity decreased slightly from 2020 due to the expiration of a drilling contract.</li><li style="margin-top:6pt; text-align:justify;">Adjusted EBITDA (see &#8220;NON-GAAP MEASURES&#8221;) for the quarter was $45 million, $2 million lower than 2020. Our Adjusted EBITDA as a percentage of revenue was 18% this quarter, compared with 29% in the comparative quarter. Our current quarter Adjusted EBITDA was negatively impacted by higher share-based compensation charges due to our increased share price and lower average day rates, partially offset by improved activity. 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The decrease was primarily the result of lower revenue from idle but contracted rigs, turnkey activity and lower fleet average day rates, partially offset by higher Alpha revenue. During the third quarter of 2021, we recognized revenue from idle but contracted rigs and turnkey projects of nil, as compared with US$10 million and US$2 million, respectively, in 2020. Our third quarter operating costs on a per day basis decreased to US$15,120, compared with US$16,037 in 2020, and was mainly due to lower turnkey activity. On a sequential basis, revenue per utilization day, excluding revenue from turnkey drilling and idle but contracted rigs, increased by US$692 primarily due to higher fleet average day rates, while operating costs per day increased by US$1,375 due to higher repairs and maintenance.</li><li style="margin-top:6pt; text-align:justify;">In Canada, average revenue per utilization day for contract drilling rigs for the quarter was $19,427 compared with $21,430 in 2020. 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The average revenue per utilization day for the quarter was US$52,277, 5% lower than in the third quarter of 2020.</li><li style="margin-top:6pt; text-align:justify;">Cash and funds provided by operations (see &#8220;NON-GAAP MEASURES&#8221;) in the third quarter of 2021 were $22 million and $34 million, respectively, compared with $42 million and $27 million in 2020.</li><li style="margin-top:6pt; text-align:justify;">Capital expenditures were $20 million as compared with $3 million in the third quarter of 2020. 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Capital spending in 2021 included $16 million for expansion and upgrade capital and $32 million for the maintenance of existing assets, infrastructure spending and intangibles.</li><li style="margin-top:6pt; text-align:justify;">As of September 30, 2021, we have reduced long-term debt by $60 million and repurchased and cancelled 155,168 common shares for $4 million pursuant to our Normal Course Issuer Bid.<br ></li></ul>  <p align="justify"><strong>STRATEGY</strong></p>  <p align="justify">Precision&#8217;s strategic priorities for 2021 are as follows:</p>  <ol style="list-style-type:decimal;"><li style="margin-top:6pt; text-align:justify;"><strong>Grow revenue and market share through our digital leadership position</strong> &#8211; Precision exited the third quarter with 46 AC Super Triple Alpha-rigs equipped with our AlphaAutomation platform and 16 commercialized AlphaApps. Our third quarter paid AlphaApp days increased 36% compared with the second quarter of 2021, with the increase largely driven by operational performance, additional revenue generating days and further uptake of customers fully utilizing our suite of Alpha technologies. During the quarter, Precision added four new AlphaAutomation customers and increased paid AlphaAutomation days, AlphaApp days and AlphaAnalytics days quarter-over-quarter by 8%, 36% and 4%, respectively.</li><li style="margin-top:6pt; text-align:justify;"><strong>Demonstrate operational leverage to generate free cash flow and reduce debt </strong>&#8211; In the third quarter of 2021, Precision generated $22 million of cash provided by operations (see &#8220;NON-GAAP MEASURES&#8221;) and $4 million of cash proceeds from the divestiture of non-core assets. As of September 30, 2021, we have reduced debt levels by $60 million, leaving $40 million of further debt reduction to achieve the low end of our 2021 debt reduction target of $100-$125 million. Precision exited the quarter with a cash balance of $57 million, US$161 million drawn on our US$500 million Senior Credit Facility and available liquidity of $500 million.</li><li style="margin-top:6pt; text-align:justify;"><strong>Deliver leading ESG (environmental, social and governance) performance to strengthen customer and stakeholder positioning </strong>&#8211; During the third quarter, we introduced our Evergreen suite of environmental solutions focused on emissions reduction products and services to complement our Super Series drilling rigs and our Alpha digital products. We successfully deployed our first Evergreen hybrid battery storage, natural gas and low emission power generating system to a Super Triple drilling rig in the Canadian market. The system reduces GHG emissions and fuel costs, helping our customer achieve their GHG emission-reduction targets and improving their well construction economics. We have seen strong customer appetite in both Canada and the U.S. for hybrid battery power systems and have multiple commitments to deploy several additional systems by mid-2022. In the fourth quarter, we expect to deploy three real-time combustion fuel monitoring packages, using AlphaAnalytics to determine precise baseline emission data. These accurate baselines will enable us to make customer-specific recommendations to further reduce rig-generated GHG emissions.<br ></li></ol>  <p align="justify"><strong>OUTLOOK</strong></p>  <p align="justify">The continued rise in global energy demand, sustained periods of strong commodity prices and the multi-year period of upstream underinvestment provide a promising backdrop for the oilfield services industry. 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Our suite of Alpha digital technologies will continue to be a key competitive differentiator as our predictable and repeatable drilling results deliver exceptional value to our customers by reducing risks, time and well construction costs.</p>  <p align="justify">The Government of Canada&#8217;s $1.7 billion well site abandonment and rehabilitation program has supported industry activity levels and provided thousands of jobs throughout Western Canada. The program runs through to the end of 2022 with government funds provided in stages. Our well servicing business continues to capture opportunities because of our scale, operational performance and strong safety record. 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and</li><li>our future debt reduction plans.</li></ul>  <p align="justify">These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. These include, among other things:</p>  <ul><li>the fluctuation in oil prices may pressure customers into reducing or limiting their drilling budgets;</li><li>the success of our response to the COVID-19 global pandemic;</li><li>the status of current negotiations with our customers and vendors;</li><li>customer focus on safety performance;</li><li>existing term contracts are neither renewed nor terminated prematurely;</li><li>our ability to deliver rigs to customers on a timely basis; and</li><li>the general stability of the economic and political environments in the jurisdictions where we operate.</li></ul>  <p align="justify">Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements will conform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not limited to:</p>  <ul><li style="text-align:justify;">volatility in the price and demand for oil and natural gas;</li><li style="text-align:justify;">fluctuations in the level of oil and natural gas exploration and development activities;</li><li style="text-align:justify;">fluctuations in the demand for contract drilling, well servicing and ancillary oilfield services;</li><li style="text-align:justify;">our customers&#8217; inability to obtain adequate credit or financing to support their drilling and production activity;</li><li style="text-align:justify;">the success of vaccinations for COVID-19 worldwide;</li><li style="text-align:justify;">changes in drilling and well servicing technology, which could reduce demand for certain rigs or put us at a competitive advantage;</li><li style="text-align:justify;">shortages, delays and interruptions in the delivery of equipment supplies and other key inputs;</li><li style="text-align:justify;">liquidity of the capital markets to fund customer drilling programs;</li><li style="text-align:justify;">availability of cash flow, debt and equity sources to fund our capital and operating requirements, as needed;</li><li style="text-align:justify;">the impact of weather and seasonal conditions on operations and facilities;</li><li style="text-align:justify;">competitive operating risks inherent in contract drilling, well servicing and ancillary oilfield services;</li><li style="text-align:justify;">ability to improve our rig technology to improve drilling efficiency;</li><li style="text-align:justify;">general economic, market or business conditions;</li><li style="text-align:justify;">the availability of qualified personnel and management;</li><li style="text-align:justify;">a decline in our safety performance which could result in lower demand for our services;</li><li style="text-align:justify;">changes in laws or regulations, including changes in environmental laws and regulations such as increased regulation of hydraulic fracturing or restrictions on the burning of fossil fuels and greenhouse gas emissions, which could have an adverse impact on the demand for oil and natural gas;</li><li style="text-align:justify;">terrorism, social, civil and political unrest in the foreign jurisdictions where we operate;</li><li style="text-align:justify;">fluctuations in foreign exchange, interest rates and tax rates; and</li><li style="text-align:justify;">other unforeseen conditions which could impact the use of services supplied by Precision and Precision&#8217;s ability to respond to such conditions.</li></ul>  <p align="justify">Readers are cautioned that the forgoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect our business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision&#8217;s Annual Information Form for the year ended December 31, 2020, which may be accessed on Precision&#8217;s SEDAR profile at www.sedar.com or under Precision&#8217;s EDGAR profile at www.sec.gov. 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vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">27,666</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Investments and other assets</td><td style="border-bottom: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>7,601</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; 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vertical-align: top ; vertical-align: bottom ; ">2,898,878</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; 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vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>2,225</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">896</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Total current liabilities</td><td style="border-top: solid black 1pt ; text-align: center ; 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vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Non-current liabilities:</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Share-based compensation</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>25,430</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">11,507</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Provisions and other</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>6,934</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">7,563</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Lease obligations</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>46,503</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">48,882</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Long-term debt</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>1,162,841</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ; 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vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">21,236</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Total non-current liabilities</td><td style="border-top: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>1,254,308</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: center ; 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vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Shareholders&#8217; capital</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>2,281,444</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">2,285,738</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Contributed surplus</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>76,753</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">72,915</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Deficit</td><td style="text-align: center ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(1,239,644</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="text-align: center ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(1,089,594</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: middle;   text-align: left; 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">27,613</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>70,783</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">83,276</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Gain on investments and other assets</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(327</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(327</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Loss (gain) on repurchase of unsecured senior notes</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>&#8212;</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; 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vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(29,942</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Loss before income taxes</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(41,538</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(27,588</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(156,113</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(79,633</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Income taxes:</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ; 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text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(2,058</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(8,525</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-bottom: solid black 1pt ; text-align: right ; 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border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">888</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(6,063</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">2,987</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; 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border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(28,476</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>$</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(150,050</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">$</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(82,620</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Net loss per share:</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: top ; vertical-align: bottom ; ">Basic</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>$</strong></td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(2.86</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(2.08</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>$</strong></td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(11.27</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(6.02</td><td style="vertical-align: top ; 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vertical-align: bottom ; ">&#160;</td><td style="max-width:9%; width:9%; min-width:9%;;border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="max-width:1%; width:1%; min-width:1%;;border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="max-width:1%; width:1%; min-width:1%;;border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="max-width:1%; width:1%; min-width:1%;;border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="max-width:9%; width:9%; min-width:9%;;border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="max-width:1%; width:1%; min-width:1%;;border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="max-width:1%; width:1%; min-width:1%;;border-top: solid black 1pt ; 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vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>1,437</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">2,447</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Finance charges</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>20,639</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">27,613</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>70,783</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">83,276</td><td style="vertical-align: top ; 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vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(142</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(562</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(905</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: top ; 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vertical-align: bottom ; "><strong>(327</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Loss (gain) on repurchase of unsecured senior notes</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>&#8212;</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(27,971</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>9,520</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(29,942</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Income taxes paid</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(1,134</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(2,137</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; 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vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">1,228</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>47</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">1,228</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Interest paid</td><td style="vertical-align: middle; 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vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(75,687</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Interest received</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>171</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">175</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>347</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">504</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Funds provided by operations</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>33,525</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">27,489</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>89,562</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">135,445</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Changes in non-cash working capital balances</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(11,654</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">14,461</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(10,050</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">85,936</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>21,871</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">41,950</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>79,512</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">221,381</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Investments:</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Purchase of property, plant and equipment</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(19,500</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(3,211</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(48,191</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(38,623</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Purchase of intangibles</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>&#8212;</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ; 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">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">5,705</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>10,390</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">16,416</td><td style="vertical-align: top ; vertical-align: bottom ; 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vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(1,367</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>3,213</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(6,773</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(17,524</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">1,127</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(37,588</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(29,037</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Financing:</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Issuance of long-term debt</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; 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vertical-align: top ; vertical-align: bottom ; ">128,059</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Repayments of long-term debt</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(8,209</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(158,921</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(769,668</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(204,386</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Repurchase of share capital</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>&#8212;</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(4,294</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; 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vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(9,450</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Debt amendment fees</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(3</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(22</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(913</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(690</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: top ; vertical-align: bottom ; ">Lease payments</td><td style="vertical-align: middle;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(1,633</strong></td><td style="vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(1,987</td><td style="vertical-align: top ; vertical-align: bottom ; ">)</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ; 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vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>&#8212;</strong></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">&#8212;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(11,330</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(37,901</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(92,947</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(87,888</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td></tr><tr><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">Effect of exchange rate changes on cash</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>642</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">(2,516</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">)</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(653</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; 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vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; ">2,660</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; vertical-align: bottom ; "><strong>(51,676</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; "><strong>)</strong></td><td style="border-top: solid black 1pt ; vertical-align: top ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; 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">&#8212;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">(2,187</td><td style="vertical-align: top ; ">)</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">&#8212;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">(2,187</td><td style="vertical-align: top ; ">)</td></tr><tr><td style="vertical-align: top ; ">Share repurchases</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">(4,294</td><td style="vertical-align: top ; ">)</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">&#8212;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">&#8212;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">&#8212;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: top ; ">&#160;</td><td style="text-align: right ;  vertical-align: middle; vertical-align: top ; ">(4,294</td><td style="vertical-align: top ; ">)</td></tr><tr><td style="vertical-align: top ; ">Share-based compensation reclassification</td><td style="vertical-align: bottom ; 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">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; ">&#8212;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; ">&#8212;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; ">6,187</td><td style="border-bottom: solid black 1pt ; vertical-align: top ; 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">(1,052,076</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; ">)</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; ">$</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: top ; ">1,461,553</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; ">&#160;</td></tr></table> <p align="center"><strong><br ></strong></p>  <p align="center"><strong>THIRD QUARTER 2021 EARNINGS CONFERENCE CALL AND WEBCAST</strong></p>  <p>Precision Drilling Corporation has scheduled a conference call and webcast to begin promptly at 12:00 noon MT (2:00 p.m. ET) on Thursday, October 21, 2021.</p>  <p align="center"><strong>The conference call dial in numbers are 1-844-515-9176 or 614-999-9312.</strong></p>  <p align="justify">A live webcast of the conference call will be accessible on Precision&#8217;s website at www.precisiondrilling.com by selecting &#8220;Investor Relations&#8221;, then &#8220;Webcasts &amp; Presentations.&#8221;</p>  <p align="justify">An archived version of the webcast will be available for approximately 60 days. An archived recording of the conference call will be available approximately one hour after the completion of the call until October 25, 2021 by dialing 855-859-2056 or 404-537-3406, passcode 8393532.</p>  <p align="justify"><u>About Precision</u></p>  <p align="justify">Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as &#8220;Alpha&#8221; that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Additionally, Precision offers well service rigs, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel.</p>  <p align="justify">Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol &#8220;PD&#8221; and on the New York Stock Exchange under the trading symbol &#8220;PDS.&#8221;</p>  <p align="justify">For further information, please contact:</p>  <p align="justify">Carey Ford, Senior Vice President and Chief Financial Officer<br >713.435.6100</p>  <p align="justify">800, 525 - 8th Avenue S.W.<br >Calgary, Alberta, Canada T2P 1G1<br >Website: www.precisiondrilling.com</p> </p><p ></p></body></html>
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