Exhibit 99.1

FIRST AMENDING AGREEMENT

TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

BETWEEN:

PRECISION DRILLING CORPORATION

(as Borrower)

– and –

THE FINANCIAL INSTITUTIONS SIGNATORY HERETO

IN THEIR CAPACITIES AS LENDERS

(as Lenders)

– and –

ROYAL BANK OF CANADA

(as Administration Agent for the Lenders)

– with –

RBC CAPITAL MARKETS, THE TORONTO-DOMINION BANK and ATB FINANCIAL

(as Co-Lead Arrangers and Joint Bookrunners)

– and –

FÉDÉRATION DES CAISSES DESJARDINS DU QUÉBEC, BUSINESS DEVELOPMENT BANK OF CANADA, WELLS FARGO BANK, N.A., ZIONS BANCORPORATION N.A. DBA AMEGY BANK, AND WOODFOREST NATIONAL BANK This First Amending Agreement is made as of August 7, 2025.

(as Co-Documentation Agents)

Made as of August 7, 2025

FIRST AMENDING AGREEMENT

BETWEEN:

PRECISION DRILLING CORPORATION, as Borrower,

AND:

EACH OF THE FINANCIAL INSTITUTIONS NAMED ON THE SIGNATURE PAGES HERETO, in their respective capacities as Lenders (hereinafter collectively referred to as the "Lenders" and individually as a "Lender"),

AND:

ROYAL BANK OF CANADA, a Canadian chartered bank having its head office in the City of Toronto, Ontario, Canada, in its capacity as administration agent of the Lenders (the "Agent").

WHEREAS the Borrower, the Agent and the Lenders are parties to a Second Amended and Restated Credit Agreement dated as of June 28, 2024 (the "Credit Agreement");

AND WHEREAS Business Development Bank of Canada and Zions Bancorporation N.A. dba Amegy Bank (collectively, the "Specified Non-Extending Lenders") have advised that they will not be extending the Syndicated Facility Maturity Date applicable to them and shall hereinafter be Non-Extending Lenders with respect to the Syndicated Facility;

AND WHEREAS the Borrower, the Lenders and the Agent wish to amend the Credit Agreement on the terms and conditions set forth herein;

NOW THEREFORE in consideration of the mutual agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the parties hereto, the Borrower, the Lenders and the Agent agree as follows:

ARTICLE 1 INTERPRETATION

In this Amending Agreement and the recitals hereto, unless something in the subject matter or context is inconsistent therewith:

The headings and the Article and Section titles are inserted for convenience of reference only and shall not affect the construction or interpretation of this Amending Agreement.

Unless something in the subject matter or context is inconsistent therewith, all references to Articles, Sections, subsections and Schedules are to Articles, Sections, subsections and Schedules to this Amending Agreement. The words "hereto", "herein", "hereunder", "herewith" and similar expressions and the term "Agreement" mean and refer to this Amending Agreement.

Unless otherwise provided herein, all references to a time in this Amending Agreement shall mean local time in Calgary, Alberta.

ARTICLE 2 AMENDMENTS

"DBRS" means Morningstar DBRS, a division of DBRS Inc., its Affiliates and any successors thereto;

"Fitch" means Fitch Ratings, Inc., its Affiliates and any successors thereto;

"Rating Agency" means any one of S&P, Moody’s, DBRS or Fitch;

"6.9 Fall-away of Security

The Collateral shall be released from the Security Interests created by the Security and the Security shall be discharged at the Borrower's request if: (a) the Borrower shall have received and at that time shall maintain corporate family ratings of at least BBB- (or equivalent) by at least two Rating Agencies (provided that, at least one of such Rating Agencies is either S&P or Moody’s) and (b) prior thereto or concurrent therewith, all Security Interests securing the Second Lien Debt are also discharged (the date of such release, the "Release Date"). If, following the Release Date, the Borrower's corporate family ratings shall cease to be at least BBB- (or equivalent) as rated by at least two Rating Agencies (at least one of which is either S&P or Moody’s), the Loan Parties shall promptly, and in any event within 60 days, enter into documentation reasonably requested by the Agent so as to cause the Secured Obligations to be secured on the same basis as the Security Obligations were secured prior to the Release Date."

provided that, any funds so deposited or funded pursuant to subparagraphs (iii) and (iv) of this definition shall not be included in any computation of the assets or Deposited Cash of such Person;”.

“For greater certainty, the Borrower shall not be entitled to designate as a Material Subsidiary any Subsidiary incorporated or formed under the laws of an Acceptable Foreign Jurisdiction unless all potential Subsidiaries referred to in subsections (i), (ii) and (iii) above have been so designated if and to the extent required to ensure compliance with Section 9.1(r).”.

ARTICLE 3 REPRESENTATIONS AND WARRANTIES

The Borrower represents and warrants to the Agent and each of the Lenders, all of which representations and warranties shall survive the execution and delivery of this Amending Agreement, that:

ARTICLE 4 CONDITIONS PRECEDENT

The effectiveness of this Amending Agreement is subject to the following conditions precedent being satisfied:

The terms and conditions of Section 4.1 are inserted for the sole benefit of the Agent and the Lenders and may be waived by the Agent with the prior consent of all Lenders in whole or in part, with or without terms or conditions.

ARTICLE 5 MISCELLANEOUS

This Amending Agreement is supplemental to the Credit Agreement and forms part of, and has the same effect as though incorporated in, the Credit Agreement. Except as amended herein, the Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed in all respects.

The Borrower, the Agent and each of the Lenders shall do all such further acts and things and execute and deliver all such further documents as shall be reasonably required in order to fully perform and carry out the terms of this Amending Agreement.

This Amending Agreement is conclusively deemed to be made under, and for all purposes to be governed by and construed in accordance with, the laws of the Province of Alberta and of Canada applicable therein.

Time shall be of the essence of this Amending Agreement.

This Amending Agreement may be executed in any number of counterparts and by different parties in separate counterparts and by facsimile or electronic signatures, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same instrument. The words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Amending Agreement shall be deemed to include electronic signatures, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, as provided in Parts 2 and 3 of the Personal Information Protection and Electronic Documents Act (Canada), the Electronic Commerce Act, 2000 (Ontario), the Electronic Transactions Act (British Columbia), the Electronic Transactions Act (Alberta), or any other similar laws based on the Uniform Electronic Commerce Act of the Uniform Law Conference of Canada. The Agent may, in its discretion, require that any such documents and signatures executed electronically or delivered by fax or other electronic transmission be confirmed by a manually-signed original thereof; provided that the failure to request or deliver the same shall not limit the effectiveness of any document or signature executed electronically or delivered by fax or other electronic transmission.

[Remainder of Page Intentionally Left Blank]

IN WITNESS WHEREOF the parties hereto have caused this Amending Agreement to be duly executed as of the date first above written.

CONSENT AND ACKNOWLEDGEMENT

For value received, the undersigned hereby consent and agree to the terms of the above Amending Agreement and the transactions contemplated thereby and confirm that the Loan Party Guarantee and Security granted by each of the undersigned remain in full force and effect. Without limiting the generality of the foregoing, the undersigned acknowledge that the "Guarantor Obligations" referred to in the Loan Party Guarantee and the "Secured Obligations" referred to in the Security include, without limitation, all obligations of the Borrower under the Amended Credit Agreement (or, as applicable, the Loan Party Guarantee in respect thereof).

Dated as of the date first written above.

EXHIBIT 1 TO THE FIRST AMENDING AGREEMENT

DATED AS OF AUGUST 7, 2025

Schedule E to the Second Amended and Restated Credit Agreement dated as of June 28, 2024 between Precision Drilling Corporation, as Borrower, and a syndicate of Lenders with Royal Bank of Canada, as Agent

Compliance Certificate

I, _________________________, of the City of Calgary, in the Province of Alberta, hereby certify as follows:

Copies of any Secured Documents not previously provided to the Agent are attached; and PRECISION DRILLING CORPORATION Per: ___________________________________          Name: ●          Title: ●

WITNESS OUR HANDS at the City of Calgary, in the Province of Alberta, this _____ day of _________________________, 20_____.