On its third quarter of 2026 earnings call, held on Oct. 28, 2026, Precision Drilling (NYSE:PDS) announced a 15% year-over-year revenue increase to $532 million, driven by rising North American drilling activity. For long-term investors, the company is translating higher operational utilization into customer contract commitments and debt reduction. Three things management said stand out. Precision Drilling upgrades drilling rigs only under customer contracts, thereby securing multiyear commitments and improving returns. This strategy helped expand its Canadian contract book from 16 to 28 rigs year over year. Reactivating six rigs in the United States added $2,130 per utilization day in temporary operating expenses during the third quarter. While these start-up costs compressed daily rig margins, the expanded fleet doubled the company's active rigs in the Permian Basin, an oil-producing region in West Texas, to 16.
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