Exhibit 31.1

FORM 52-109F2

CERTIFICATION OF INTERIM FILINGS

I, Carey T. Ford, President and Chief Executive Officer of Precision Drilling Corporation, certify the following:

Date: October 23, 2025

Exhibit 31.2

FORM 52-109F2

CERTIFICATION OF INTERIM FILINGS

I, Dustin D. Honing, Chief Financial Officer of Precision Drilling Corporation, certify the following:

Date: October 23, 2025

Exhibit 99.1

PRECISION DRILLING CORPORATION

Third Quarter Report for the three and nine months ended September 30, 2025 and 2024

This report contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this report. This report contains references to certain Financial Measures and Ratios, including Adjusted EBITDA (earnings before income taxes, loss (gain) on investments and other assets, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization), Funds Provided by (Used in) Operations, Net Capital Spending, Working Capital and Total Long-term Financial Liabilities. These terms do not have standardized meanings prescribed under International Financial Reporting Standards (IFRS) Accounting Standards and may not be comparable to similar measures used by other companies. See “Financial Measures and Ratios” later in this report.

Precision Drilling Corporation ("Precision" or the "Company") (TSX:PD; NYSE:PDS) announces its 2025 third quarter results, confirms shareholder return targets, and continues to strengthen its North American Super Series rig fleet to meet customer demand.

Financial Highlights

Operational Highlights

SELECT FINANCIAL AND OPERATING INFORMATION

Financial Highlights

Operating Highlights

Drilling Activity

Financial Position

Summary for the three months ended September 30, 2025:

Summary for the nine months ended September 30, 2025:

STRATEGY

Precision’s vision is to be globally recognized as the High Performance, High Value provider of land drilling services. We work toward this vision by defining and measuring our results against strategic priorities that we establish at the beginning of every year. Precision’s 2025 strategic priorities and the progress made during the third quarter are summarized below.

OUTLOOK

Near-term expectations for global energy demand growth continue to be tempered by several geopolitical events, including OPEC+ easing of curtailments, trade and tariff uncertainty, and international conflicts. However, we believe the long-term fundamentals for energy are positive, driven by economic growth, demand from emerging economies, LNG off-take, and natural gas sourced power generation demand for AI data centers.

In Canada, additional takeaway capacity for both oil and natural gas continues to support Canadian activity. LNG Canada made its first shipment at the beginning of July and as customers take a long-term view of this business, demand for our Super Triple rigs is near full capacity. The Trans Mountain pipeline expansion continues to support heavy oil production, driving our Super Single rig utilization toward full capacity. With strong Canadian drilling fundamentals, we expect our winter drilling season to meet or exceed last year's winter activity, assuming supportive commodity prices.

In the U.S., while oil rig activity continues to be challenged, the year-to-date natural gas rig count has increased approximately 20% as customers are becoming more constructive on LNG off-take and AI demand. We have capitalized on these emerging opportunities in natural gas basins such as the Haynesville and Marcellus and increased our U.S. drilling rig utilization days 24% over the last two quarters. We currently have 39 rigs active and continue to have encouraging customer conversations that could result in additional activity increases.

Internationally, we have eight rigs under contract with five active in Kuwait, two active in the Kingdom of Saudi Arabia and one rig temporarily suspended in Saudi Arabia. The majority of our international rigs are under five-year term contracts that extend into 2027 and 2028 and we expect seven active for the remainder of the year. We continue to look for opportunities to leverage our international footprint and expertise.

As the premier well service provider in Canada, the long-term outlook for this business is positive, driven by increased takeaway capacity from the Trans Mountain pipeline expansion and LNG Canada, and our High Performance, High Value service offering. We expect customer demand and pricing to remain strong into the foreseeable future, assuming no significant change in market conditions.

Overall, our outlook for the remainder of the year remains optimistic but will continue to be commodity price dependent. With the constructive commodity prices we experienced at the beginning of the fourth quarter, we expect our fourth quarter activity levels to be steady year over year with some upside potential. Our operating margins in Canada are expected to average between $14,000 and $15,000 per utilization day and remain consistent to the margins we reported in the fourth quarter of 2024. In the U.S., we expect our fourth quarter operating margins to remain stable and average between US$8,000 and US$9,000 per utilization day.

Contracts

The following chart outlines the average number of drilling rigs under term contract by quarter as at October 22, 2025. For the quarter ending after September 30, 2025, this chart represents the minimum number of term contracts from which we will earn revenue. We expect the actual number of contracted rigs to vary in future periods as we sign additional term contracts.

In Canada, because of the seasonal nature of well site access, term contracted rigs normally generate 250 utilization days, with some pad drilling rigs trending toward 350 days. Accordingly, our anticipated Canadian rigs under term contract may fluctuate as customers complete their commitments earlier than projected. In most regions in the U.S. and internationally, term contracts normally generate 365 utilization days per year. In accordance with the seasonality of our business and varying levels of rig count, we generally experience builds of working capital(1) in the first and third quarters and releases of working capital in the second and fourth quarters.

Capital Spending and Free Cash Flow Allocation

Capital spending in 2025 is expected to be $260 million, an increase of $20 million from our previously announced plan as we moved two Super Triples from the U.S. to Canada under long-term contracts and secured five additional customer-funded rig upgrades in Canada and the U.S. Capital spending by spend category(2) is expected to include $151 million for maintenance, infrastructure, and intangibles, and $109 million for upgrades. We expect to spend $240 million in the Contract Drilling Services segment, $19 million in the Completion and Production Services segment and $1 million in the Corporate segment. At September 30, 2025, Precision had capital commitments of $165 million with payments expected through 2027. We remain committed to our capital allocation plans and achieving a sustained Net Debt to Adjusted EBITDA ratio(1) of below 1.0 times. As at September 30, 2025 we have achieved our annual debt reduction target of at least $100 million and are well on track to allocate 35% to 45% of free cash flow before debt repayments for share repurchases by year end, repurchasing $54 million in shares during the first nine months of the year.

Commodity Prices

Third quarter average West Texas Intermediate and Western Canadian Select decreased 14% and 13%, respectively, compared with the same period last year, as U.S. tariff concerns and OPEC+ production increases continued to weigh on oil prices. The average Henry Hub natural gas price increased 38% due to optimism from LNG off-take and AI data centers. Meanwhile, AECO decreased 14% as Canadian inventories remained high given the slow ramp up of LNG Canada.

SEGMENTED FINANCIAL RESULTS

Precision’s operations are reported in two segments: Contract Drilling Services, which includes our drilling rig, oilfield supply and manufacturing divisions; and Completion and Production Services, which includes our service rig, rental and camp and catering divisions.

SEGMENT REVIEW OF CONTRACT DRILLING SERVICES

Revenue from Contract Drilling Services was $391 million compared to $406 million in the third quarter of 2024, due to lower drilling rig activity in Canada, offset in part by higher average day rates. Precision's Canadian drilling rig utilization days were down 13% due to tariff and commodity price uncertainty that caused some producers to defer work until this winter season. This decrease was similar to the 15% experienced by the Canadian industry. Precision's revenue per utilization day was $34,193 compared to $32,325 in the same period last year, primarily due to rig mix as Precision had more Super Triples active in the third quarter of 2025 compared with 2024 and higher recoverable costs. Revenue from our U.S. and International drilling operations were comparable with the third quarter of 2024.

Adjusted EBITDA was $117 million for the quarter and represented 30% of revenue compared to 33% realized in the third quarter of 2024. The percentage decrease was mainly driven by an increase in Canadian operating costs due to rig mix and rig move costs plus lower average day rates in the U.S.

In Canada, 26% of our utilization days were generated from rigs under term contract in third quarter of 2025 compared to 32% in 2024. In the U.S., 41% of utilization days were generated from rigs under term contract versus 50% in 2024.

SEGMENT REVIEW OF COMPLETION AND PRODUCTION SERVICES

Completion and Production Services revenue was $75 million compared to $73 million in the third quarter as well service rig operating hours increased 6% and more than offset the lost contribution from our U.S. well servicing operations that we wound down in the second quarter of 2025. Higher activity in the third quarter of 2025 was driven by customers advancing projects that were deferred in the second quarter and favorable weather conditions.

Adjusted EBITDA was $19 million, representing 26% of revenue and comparable to 27% in the third quarter of 2024.

SEGMENT REVIEW OF CORPORATE AND OTHER

Our Corporate and Other segment provides support functions to our operating segments. The Corporate and Other segment had negative Adjusted EBITDA of $18 million for the third quarter versus a negative Adjusted EBITDA of $11 million in the same period last year primarily due to higher share-based compensation expense. On a year-to-date basis, the favorable change in Adjusted EBITDA was driven by lower share-based compensation expense.

OTHER ITEMS

Share-based Incentive Compensation Plans

We have several cash and equity-settled share-based incentive plans for non-management directors, officers, and other eligible employees. Our accounting policies for each share-based incentive plan can be found in our 2024 Annual Report.

A summary of expense amounts under these plans during the reporting periods are as follows:

Cash settled share-based compensation expense for the quarter was $9 million as compared with recovery of $2 million in 2024. The higher expense was primarily due to our share price appreciating 22% during the third quarter of 2025. On a year-to-date basis, our share based-compensation expense has decreased due to our lower share price performance relative to 2024.

During the first quarters of 2024 and 2025, we issued Executive Restricted Share Units (Executive RSUs) to certain senior executives that were aligned with our annual compensation framework. These issuances resulted in an equity-settled share-based compensation expense of $2 million for the quarter. On a year-to-date basis, Executive RSUs and Deferred Share Units account for $5 million and $1 million, respectively, of equity-settled share-based compensation expense.

As at September 30, 2025, the majority of our share-based compensation plans were classified as cash-settled and will be impacted by changes in our share price. Although accounted for as cash-settled, Precision retains the ability to settle certain vested units in common shares at its discretion.

Income Taxes

During the quarter, the Company recognized a deferred income tax expense of $33 million, primarily attributable to the waiving of certain U.S. tax deductions. These deductions were waived to mitigate minimum taxes that the Corporation became subject to as a result of stronger operating results. Consequently, Precision expects to not be subject to U.S. income tax for several years. The waiving of these U.S. tax deductions has been accounted for as a change in tax estimate and adjusted prospectively, resulting in an increase to deferred tax expense and corresponding increase to the deferred tax liability.

LIQUIDITY AND CAPITAL RESOURCES

The oilfield services business is inherently cyclical in nature. To manage this, we focus on maintaining a strong balance sheet in order to have the financial flexibility to manage our growth and cash flow regardless of where we are in the business cycle. We maintain a variable operating cost structure so we can be responsive to changes in demand.

Our maintenance capital expenditures are tightly governed and highly responsive to activity levels with additional cost savings leverage provided through our internal manufacturing and supply divisions. Term contracts on expansion capital provide more certainty of future revenues and return on our capital investments.

Liquidity

In the third quarter of 2025, we reduced long-term debt by $10 million, redeeming the remaining portion of our 2026 unsecured senior notes of $138 million (US$100 million), while drawing $129 million from our Senior Credit Facility. As at September 30, 2025, we had a total of $696 million outstanding under our Senior Credit Facility and unsecured senior notes as compared with $822 million at December 31, 2024. The current blended cash interest cost of our debt is approximately 6.6%.

Senior Credit Facility

Our Senior Credit Facility requires that we comply with certain covenants including a leverage ratio of consolidated senior debt to consolidated Covenant EBITDA of less than 2.5:1. For purposes of calculating the leverage ratio, consolidated senior debt only includes secured indebtedness. The Senior Credit Facility limits the redemption and repurchase of junior debt subject to a pro forma senior net leverage covenant test of less than or equal to 1.75:1.

During the third quarter, Precision fully redeemed the 2026 unsecured senior notes. The redemption was executed at par value, comprising US$100 million in principal and US$1 million in accrued interest. The transaction was financed through a combination of cash on hand and proceeds drawn from the Senior Credit Facility.

Precision also extended its Senior Credit Facility's maturity date and amended certain terms of the facility during the third quarter. The maturity date was extended from June 28, 2027 to October 31, 2028, with the exception of US$43 million, which will mature on June 28, 2027.

Unsecured Senior Notes

The unsecured senior notes require that we comply with certain restrictive and financial covenants, including an incurrence based consolidated interest coverage ratio test of consolidated cash flow, as defined in the senior note agreements, to consolidated interest expense of greater than 2.0:1 for the most recent four consecutive fiscal quarters. In the event our consolidated interest coverage ratio is less than 2.0:1 for the most recent four consecutive fiscal quarters, the unsecured senior notes restrict our ability to incur additional indebtedness.

Covenants

As at September 30, 2025, we were in compliance with the covenants of our Senior Credit Facility.

Impact of foreign exchange rates

The following table summarizes the average and closing Canada-U.S. foreign exchanges rates.

Hedge of investments in foreign operations

We utilize foreign currency long-term debt to hedge our exposure to changes in the carrying value of our net investment in certain foreign operations as a result of changes in foreign exchange rates.

We have designated our U.S. dollar-denominated long-term debt as a net investment hedge in our U.S. operations and other foreign operations that have a U.S. dollar functional currency. To be accounted for as a hedge, the foreign currency denominated long-term debt must be designated and documented as such and must be effective at inception and on an ongoing basis. We recognize the effective amount of this hedge (net of tax) in other comprehensive income. We recognize ineffective amounts (if any) in net earnings (loss).

QUARTERLY FINANCIAL SUMMARY

CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES

Because of the nature of our business, we are required to make judgements and estimates in preparing our Condensed Consolidated Interim Financial Statements that could materially affect the amounts recognized. Our judgements and estimates are based on our past experiences and assumptions we believe are reasonable in the circumstances. The critical judgements and estimates used in preparing the Condensed Consolidated Interim Financial Statements are described in our 2024 Annual Report.

EVALUATION OF CONTROLS AND PROCEDURES

Based on their evaluation as at December 31, 2024, Precision’s Chief Executive Officer and Chief Financial Officer concluded that the Corporation’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the United States Securities Exchange Act of 1934, as amended (the Exchange Act)), were effective to ensure that information required to be disclosed by the Corporation in reports that are filed or submitted to Canadian and U.S. securities authorities is recorded, processed, summarized and reported within the time periods specified in Canadian and U.S. securities laws. In addition, as at September 30, 2025, there were no changes in the internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) that occurred during the three months ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, the Corporation’s internal control over financial reporting. Management will continue to periodically evaluate the Corporation’s disclosure controls and procedures and internal control over financial reporting and will make any modifications from time to time as deemed necessary.

Based on their inherent limitations, disclosure controls and procedures and internal control over financial reporting may not prevent or detect misstatements, and even those controls determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

FINANCIAL MEASURES AND RATIOS

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

Certain statements contained in this report, including statements that contain words such as "could", "should", "can", "anticipate", "estimate", "intend", "plan", "expect", "believe", "will", "may", "continue", "project", "potential" and similar expressions and statements relating to matters that are not historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking information and statements").

In particular, forward-looking information and statements include, but are not limited to, the following:

These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. These include, among other things:

Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements will conform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not limited to:

Readers are cautioned that the forgoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect our business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision’s Annual Information Form for the year ended December 31, 2024, which may be accessed on Precision’s SEDAR+ profile at www.sedarplus.ca or under Precision’s EDGAR profile at www.sec.gov. The forward-looking information and statements contained in this report are made as of the date hereof and Precision undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law.

15

Exhibit 99.2

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

See accompanying notes to condensed interim consolidated financial statements.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF NET EARNINGS (LOSS) (UNAUDITED)

See accompanying notes to condensed interim consolidated financial statements.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

See accompanying notes to condensed interim consolidated financial statements.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

See accompanying notes to condensed interim consolidated financial statements.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED)