04:43 PM EDT, 09/11/2025 (MT Newswires) -- Precision Drilling ( PDS ) edged up in after-hours New York trading after the company said Thursday afternoon it received approval from the Toronto Stock Exchange to launch a new normal course issuer bid (NCIB) to buy up to nearly 1.3 million common shares, or about 10% of its public float as of Sept. 5.

The buyback may begin on Sept. 19 and will run for 12 months unless completed or terminated earlier, the company said.

To support the new buyback, Precision also plans to enter into an automatic share purchase plan starting Sept. 19. This will allow a broker to buy shares on the company's behalf during blackout periods or other restricted times, following pre-set trading rules in line with Canadian and US regulations, the company added.

Precision shares were last seen up US$0.23 to US$57.11 after hours. They closed down $0.61 to $78.72 on the Toronto Stock Exchange.