Precision Drilling Corp.

Precision Drilling Corp. announced the completion with our lenders of a one-year maturity extension of our senior credit facility to November 2022. Precision has also completed an additional $34 million in open market purchases of its 5.25% senior notes due 2024 which will bring total debt repayments for year-end 2018 to approximately $150 million, exceeding the high end of our 2018 targeted debt reduction range of $75 million to $125 million. Debt repayments in 2018 are funded from free cash flow and provide annualized interest savings of approximately $9 million. The company expects its year end cash balance to be approximately $90 million, which coupled with its undrawn credit facilities, will provide Precision with approximately $780 million of liquidity going into 2019.