Precision Drilling Corporation (Precision or the Company) provided a announcements including debt repayment update and increase in long-term debt reduction target. Debt Repayment Update: Following additional open market repurchases of its unsecured senior notes in the fourth quarter, Precision's 2020 debt repayments totaled USD 170 million, exceeding the high end of its 2020 annual targeted range of USD 100 million to USD 150 million. As of December 31, 2020, the amounts outstanding under Precision's unsecured senior notes are as follows: USD 286 million ­ 7.75% senior notes due December 15, 2023; USD 263 million ­ 5.25% senior notes due November 15, 2024; USD 348 million ­ 7.125% senior notes due January 15, 2026. The Company has paid down USD 550 million of debt just three years into its long-term debt reduction plan, exceeding the high end of each year's annual targeted debt reduction range. As a result of Precision's further reduction of absolute debt levels, the Company anticipates its forward run-rate of cash interest costs from debt to be approximately USD 85 million. Increase in Long-Term Debt Reduction Target: Precision has increased its long-term debt reduction target from USD 700 million to USD 800 million for the years 2018 through 2022, requiring USD 250 million of debt reduction over the next two years to achieve revised target. The target increase is due to accelerated debt reduction achieved and the Company's forward free cash flow outlook, further strengthened by its reduced fixed cost structure and lower interest expense run-rate.