Precision Drilling Corporation’s Canadian drilling activity was nearly triple what it was in the third quarter of 2020 and the 51 average active rigs during the quarter represented the highest third quarter average activity since 2018.
October 21, 2021, 8:53 AM MDT
Oilfield service companies keep seeking out mergers and acquisitions that will prove successful, as highlighted in recent second quarter results and conference calls.
August 24, 2021, 5:08 AM MDT
Total Energy Services Inc. is increasing its full-year 2021 capital expenditures budget.
August 12, 2021, 10:57 AM MDT
Pason Systems Inc. increased its minority investment in Intelligent Wellhead Systems Inc. during this year’s second quarter, acquiring a portion of outstanding common shares for total cash consideration of $7.1 million.
August 11, 2021, 10:58 AM MDT
PHX Energy Services Corp. has increased its capital spending budget for 2021 to $35 million. This follows an earlier-announced $15 million to $25 million
August 4, 2021, 4:37 PM MDT
Western Energy Services Corp. has increased its capital budget for 2021 by $2 million to approximately $8 million.
July 26, 2021, 2:42 PM MDT
Western Canada’s rig activity was fairly static during the seasonal slowdown in May—in percentage terms, the active rate was much higher than last year, when the effects of the COVID-19 slowdown were fully taking hold (see graph).
May 28, 2021, 8:42 AM MDT
Cathedral Energy Services Ltd. has lifted its 2021 capital plan to roughly $4 million.
May 14, 2021, 6:33 AM MDT
Gibson Energy Inc. reported a “solid start” to 2021, with strong financial results, commercial advancements, and development of its environmental, social and governance (ESG) and sustainability practices.
May 4, 2021, 11:06 AM MDT
CWC Energy Services Corp.’s board has approved an additional $700,000 of growth capital to further upgrade one of its drilling rigs.
April 29, 2021, 3:01 PM MDT
The oilfield services industry outlook and customer sentiment has improved in recent months, says Precision Drilling Corporation, which is largely due to vaccine announcements, the reopening of economies and steadily increasing commodity prices.
April 22, 2021, 6:33 AM MDT
PHX Energy Services Corp. announced a $10 million increase to its 2021 capital expenditure program.
April 9, 2021, 4:18 PM MDT
Consolidation was a recurring theme during recent oilfield services Q4 2020 results conference calls.
March 18, 2021, 12 AM MDT
STEP Energy Services Ltd. outlined a 2021 capital program of $33.7 million based on expected work activity.
March 18, 2021, 8:07 AM MDT
As with previous financial reporting periods since the federal government implemented the program in response to the COVID-19 downturn, oilfield services companies sung the praises of Canada’s Emergency Wage Subsidy (CEWS) during recent calls with the investment community to discuss their fourth quarter 2020 results.
March 16, 2021, 6:34 AM MDT
Total Energy Services Inc. is increasing its 2020 capital budget by $4.5 million to $13.6 million, plus $1.1 million in spending commitments carried forward from 2020, as the company pursues investments that make economic sense, as well as continuing to prioritize debt repayment.
March 12, 2021, 11:07 AM MST
CWC Energy Services Corp. spent $5.1 million in 2020 compared to $5.3 million in 2019.
March 5, 2021, 7:36 AM MST
Tervita Corporation is banking on the positive momentum in the second half of 2020 to carry though to 2021.
March 5, 2021, 9:55 AM MST
Essential Energy Services Ltd.’s 2021 capital budget is $5.4 million, which includes spending on critical maintenance activities and funds available for growth capital.
March 4, 2021, 9:40 AM MST
Secure Energy Services Inc. outlined a 2021 capital program of $15 million, which includes $12 million of sustaining capital.
February 26, 2021, 7:45 AM MST
Trican Well Service Ltd. has strengthened its liquidity and financial position post-Q4 2020 through agreements to sell non-core assets and businesses for proceeds of more than $7 million, which includes the signing of a definitive agreement to sell its software business for estimated proceeds of $6 million.
February 24, 2021, 5:57 AM MST
The final cost of Enbridge Inc.’s Line 3 replacement project has risen by 13 per cent to $9.3 billion (in source currency) from $8.2 billion but it remains on target for a fourth quarter 2021 in-service date, the company said today.
February 12, 2021, 10:02 AM MST
Cenovus Energy Inc. generated full-year adjusted funds flow of $147 million compared with $3.7 billion a year earlier.
February 9, 2021, 5:52 AM MST
Rystad Energy AS anticipates Canadian oilfield services capital spending of US$29.1 billion in 2021, compared with $27.5 billion in 2020 and $37 billion in 2019.
January 19, 2021, 6 AM MST
Data compiled by Evaluate Energy for this week’s guidance report shows that a basket of Canadian-based companies that have announced 2021 spending plans will have a combined $1.66-billion boost across the 25 companies, representing an increase in 2021 of 13 per cent over currently reported 2020 guidance for the same companies.
January 12, 2021, 10:34 AM MST