Financial Results

  • Precision Revenues Climb; Company Lifts Capex Outlook

    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

  • High Arctic Foresees Future Opportunities In WCSB And PNG; Q2 Revenue Increases

    High Arctic Energy Services Inc. expects near-term activity in its Canadian and Papua New Guinean operating segments to increase given the improving and stabilizing economic environment.

    August 16, 2021, 10:31 AM MDT

  • CES Reports Strong Q2 Results As Industry Conditions Improve

    CES Energy Solutions Corp. demonstrated strong Q2 2021 results as industry conditions kept stabilizing and improving during the past three quarters, with the company leveraging its established infrastructure, strong industry positioning and personnel to capitalize on these positive developments.

    August 13, 2021, 10:54 AM MDT

  • Pason Increases IWS Investment In Q2 2021; Company Sees Easing Canadian Pricing Pressures

    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

  • Pason’s Q2 2021 Results Reflect Strong Recovery From Depths Of Industry Downturn

    Pason System Inc.’s Q2 2021 results reflect strong competitive positioning, a prudent balance sheet, and operating leverage as industry conditions continued to improve from the depths of the COVID-19 downturn, says management.

    August 11, 2021, 11:12 AM MDT

  • Cathedral Q2 Revenue Declines; OFS Outlook For Back Half Of 2021 ‘Positive’

    Cathedral Energy Services Ltd.’s revenues decreased by 17 per cent in the second quarter of 2021 to $7.32 million.

    August 11, 2021, 9:33 AM MDT

  • Activity Boost Helps Lift Essential’s Revenue

    Essential Energy Services Ltd.’s second quarter revenue climbed to $22.44 million from $10.96 million.

    August 10, 2021, 6:49 AM MDT

  • Pipestone Expansion Likely For Tidewater; Company Sees Higher Revenue For Q2 2021

    It is more likely than not that Tidewater Midstream and Infrastructure Ltd. will be expanding its Pipestone Gas Plant, based on recent throughput at the facility, says Joel MacLeod, chief executive officer.

    August 9, 2021, 10:02 AM MDT

  • Pembina Pipeline Boosts 2021 EBITDA Guidance; Company Increases Revenue For Q2

    Pembina Pipeline Corporation has updated its full-year EBITDA guidance for 2021 to between $3.3 billion and $3.4 billion, raising the low-end, based on year-to-date results and the outlook for the remainder of the year.

    August 6, 2021, 10:14 AM MDT

  • Ensign’s Revenues Up 9%, Canadian Operations Benefitting From Montney Activity

    Ensign Energy Services Inc. generated second quarter revenue of $212.3 million, a nine per cent increase from revenue of $194.8 million during the comparable period last year.

    August 6, 2021, 1:29 PM MDT

  • KAPS Construction Officially Underway, Keyera Says

    Keyera Corp. says construction on the KAPS pipeline project is now underway with the majority of line pipe continuing to be milled in Alberta.

    August 5, 2021, 10:28 AM MDT

  • Q2 Round-Up: AKITA, NCS Multistage, Clearstream

    Total Q2 revenues for NCS Multistage Holdings, Inc. were $21.5 million which was an increase of 146 per cent compared to the second quarter of 2020.

    August 5, 2021, 12 AM MDT

  • Enerflex Sees New Bookings As Positive Sign In Q2; Revenue Falls For The Quarter

    Enerflex Ltd. expects operator capital spending to increase as fundamentals improve in the back half of 2021 and into 2022 — a trend reflected in the company’s bookings, which have improved steadily since Q2 2020.

    August 5, 2021, 9:28 AM MDT

  • Gibson Closing In On DRU Start-Up; Sanctions Tank At Edmonton

    Gibson Energy Inc. has completed construction of the diluent recovery unit (DRU) near Hardisty, doing so on-schedule and within expected capital costs, and the company expects to place it into service sometime in Q3 2021.

    August 4, 2021, 9:51 AM MDT

  • TC Energy Advances On Capital Projects; Company Boosts Comparable EBITDA For Q2 2021

    TC Energy Corporation is exploring some opportunities to electrify and use renewable energy to power certain proprietary energy loads, with the goal of reducing emissions, as it advances on a C$21 billion secured capital program, working on a substantive portfolio of high-quality opportunities under development, says management.

    July 29, 2021, 7:35 AM MDT

  • Trican Optimistic On Activity And Pricing Going Into Final Half Of 2021

    Higher activity levels drove a rebound in revenues and reduced net losses for Trican Well Service Ltd. in the second quarter of 2021, the company reported on Wednesday.

    July 28, 2021, 8:06 AM MDT

  • CP Ready For First DRU Train Out Of Hardisty

    Canadian Pacific Railway Limited moved 76,100 carloads of energy, chemical and plastics freight (the category that includes crude-by-rail) for the second quarter, which is up 21 per cent from Q2 of 2020, and senior management expects continued strength in this segment with further economic recovery during the rest of 2021.

    July 28, 2021, 8:29 PM MDT

  • Secure Revenue Rises In Q2

    Secure Energy Services Inc. generated revenue (excluding oil purchase and resale) of $116.7 million for the second quarter, an increase of 78 per cent from the three months ended June 30, 2020.

    July 27, 2021, 3:20 PM MDT

  • Western Energy Lifts Capital Spending Plan

    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

  • Precision Sees Strong Start To Q3; Company Expects More Rig Activations Closer To Year End

    Precision Drilling Corporation’s Q3 total drilling days likely will exceed the Q1 winter drilling season, says the chief executive, and there is the potential for more rig activations in Q4 as customers prepare for a busier 2022.

    July 22, 2021, 2:46 PM MDT

  • Canadian Outlook Remains ‘Exceptionally Bright’ For Precision; Revenue Increases For Q2 2021

    Precision Drilling Corporation expects to activate several more rigs in the Canadian market in the coming weeks, and the company has agreed to a multi-year contract to redeploy an AC Super Triple rig from Colorado to the Montney, as the outlook for Canada remains “exceptionally bright” for the next 12 months.

    July 22, 2021, 7:55 AM MDT

  • Acquisition Spree Helps Mullen Boost Q2 Revenues

    Buoyed by a series of acquisitions and internal growth, Mullen Group Ltd. generated second quarter consolidated revenue of $312.5 million, an increase of $55 million, or 21.4 per cent, from revenue of $257.5 million a year earlier.

    July 22, 2021, 11:06 AM MDT

  • Data Library Sales Surge For Pulse In Q2

    Pulse Seismic Inc.’s data library sales revenue was $19 million for the three months ended June 30, 2021 compared to $1.9 million for the same three-month period of 2020.

    July 22, 2021, 6 AM MDT

  • High Arctic Works to Convert Rig Fleet To Electric Drives

    High Arctic Energy Services Inc. has spent more than a year on a practical process to convert existing Concord well servicing rigs to reliable, efficient and inexpensive electric drives. The company now has a patent pending on the design and it plans to identify industry partners to further test the technology at a pilot site in 2021.

    May 17, 2021, 11 AM MDT

  • Tidewater Reports Record Adjusted EBITDA

    Tidewater Midstream and Infrastructure Ltd. said it delivered a record quarter of EBITDA generation in the first three months of 2021 as the Prince George Refinery (PGR) and Pipestone gas plant continue to run at high utilization rates.

    May 17, 2021, 12 AM MDT

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