March 18 (Reuters) - Precision Drilling Corp PD.TO :
* PRECISION DRILLING ANNOUNCES ASSET DIVESTITURES, SENIOR NOTE REDEMPTION AND PROVIDES INTERNATIONAL CONTRACT UPDATE
* PRECISION DRILLING - ANNOUNCE TRANSACTIONS TO DIVEST OUR FIVE MEXICO BASED DRILLING RIGS AND OUR WATER TREATMENT BUSINESS BRANDED TERRA WATER SYSTEMS
* ENTERED INTO AGREEMENT TO SELL FIVE IDLE DRILLING RIGS AND ANCILLARY EQUIPMENT CURRENTLY LOCATED IN MEXICO FOR US$48 MILLION
* HAVE ENTERED INTO AN AGREEMENT TO SELL FIVE IDLE DRILLING RIGS AND ANCILLARY EQUIPMENT CURRENTLY LOCATED IN MEXICO FOR US$48 MILLION
* PRECISION RECENTLY CLOSED TRANSACTION TO DIVEST ASSETS AND BUSINESS FOR AN UNDISCLOSED CASH CONSIDERATION
* AT CONCLUSION OF TRANSACTION, PRECISION WILL HAVE NO ASSETS IN MEXICO
* PRECISION DRILLING - COMPANY HAS INITIATED REDEMPTION OF US$30 MILLION OF ITS 6.50% SENIOR NOTES DUE 2021 ON A PRO RATA BASIS WITH AVAILABLE CASH ON HAND
* PRECISION DRILLING - REGARDING TERRA WATER SYSTEMS, CO RECENTLY CLOSED TRANSACTION TO DIVEST ASSETS & BUSINESS FOR UNDISCLOSED CASH CONSIDERATION
* COMPANY HAS SIGNED THREE-YEAR CONTRACT RENEWALS FOR TWO RIGS IN SAUDI ARABIA, EFFECTIVE MARCH 1, 2019
* PRECISION DRILLING - IN KUWAIT, SIGNED 1-YEAR EXTENSIONS ON 2 RIGS THAT WERE SET TO EXPIRE MID-YEAR, REMAIN ON TRACK TO DELIVER SIXTH NEW BUILD RIG IN JULY