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BRIEF-Precision Announces Reduced 2019 Capital Expenditure Plan

Published 2019-08-19, 06:04 a/m
© Reuters.  BRIEF-Precision Announces Reduced 2019 Capital Expenditure Plan
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Aug 19 (Reuters) - Precision Drilling Corp PD.TO :

* PRECISION ANNOUNCES REDUCED 2019 CAPITAL EXPENDITURE PLAN AND BOARD APPROVAL OF NORMAL COURSE ISSUER BID

* PRECISION DRILLING CORP - REDUCTION OF 2019 CAPITAL EXPENDITURE PLAN BY $25 MILLION, DOWN TO $144 MILLION FROM $169 MILLION

* PRECISION DRILLING CORP - BOARD APPROVAL TO IMPLEMENT A NORMAL COURSE ISSUER BID OF UP TO 10% OF PUBLIC FLOAT

* PRECISION DRILLING CORP - UPDATE ON 2019 YEAR-TO-DATE DEBT REDUCTION OF $136 MILLION, ON TRACK FOR 2019 TARGET DEBT REDUCTION OF $200 MILLION

* PRECISION DRILLING CORP - PRELIMINARY GUIDANCE ON ITS 2020 PLANNED CAPITAL EXPENDITURE RANGE OF $60 MILLION TO $80 MILLION

* PRECISION DRILLING CORP - 2020 DEBT REPAYMENT TARGET RANGE OF $100 MILLION TO $150 MILLION

* PRECISION DRILLING - REAFFIRMING LONG-TERM DEBT REDUCTION TARGETED RANGE OF $400 MILLION TO $600 MILLION BY END OF 2021

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