Precision Drilling (TSX:PD) Effective Interest Rate on Debt % : 7.32% (As of Mar. 2024)

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What is Precision Drilling Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Precision Drilling's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was C$73 Mil. Precision Drilling's average total debt for the quarter that ended in Mar. 2024 was C$1,003 Mil. Therefore, Precision Drilling's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 7.32%.

Precision Drilling Effective Interest Rate on Debt % Historical Data

The historical data trend for Precision Drilling's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Precision Drilling Effective Interest Rate on Debt % Chart

Precision Drilling Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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7.13

7.31

6.64

7.33

7.55

Precision Drilling Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															7.69	7.29	7.59	6.75	7.32

Competitive Comparison of Precision Drilling's Effective Interest Rate on Debt %

For the Oil & Gas Drilling subindustry, Precision Drilling's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Precision Drilling's Effective Interest Rate on Debt % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Precision Drilling's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Precision Drilling's Effective Interest Rate on Debt % falls into.

Precision Drilling Effective Interest Rate on Debt % Calculation

Precision Drilling's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -81.06	/	( (1153.933	+	992.188)	/ 2 )
=	-1 * -81.06	/	1073.0605
=	7.55 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	1138.948	+	14.985
=	1153.933

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	971.954	+	20.234
=	992.188

Precision Drilling's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -73.476	/	( (992.188	+	1014.337)	/ 2 )
=	-1 * -73.476	/	1003.2625
=	7.32 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	971.954	+	20.234
=	992.188

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	992.884	+	21.453
=	1014.337

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Precision Drilling (TSX:PD) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Precision Drilling Effective Interest Rate on Debt % Related Terms

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Precision Drilling (TSX:PD) Business Description

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PDS:USA

Address

150 6th Avenue SW, Suite 4200, Calgary, AB, CAN, T2P3Y7

Website

https://www.precisiondrilling.com

Precision Drilling Corpd is a provider of contract drilling and completion and production services to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. Contract Drilling Services include drilling rigs, procurement and distribution of oilfield supplies, and the manufacture, sale and repair of drilling equipment. Completion and Production Services include service rigs, oilfield equipment rental, and camp and catering services.