Financial Results

  • Cordy Sees Strong Q3 Results; Company Benefits From Last Year’s Acquisition And JV

    Cordy Oilfield Services Inc. experienced the strongest quarter — in Q3 2021 — since realigning its business in 2015, due to increased energy sector activity, revenue from last year’s Platinum North Resources Ltd. acquisition, and its joint-venture partnership (also completed last year).

    November 19, 2021, 7:30 AM MST

  • DIVERGENT Reports Increased Revenue For Q3 2021; Large Client Continuing CBM Program

    DIVERGENT Energy Services Corp.’s largest client plans to continue its coalbed methane workover program for next year at a pace similar to during Q3 2021, says management, barring any potential weather-related disruptions and assuming commodity prices remain strong.

    November 17, 2021, 9:09 AM MST

  • CES Leverages Infrastructure And Industry Position To Improve Results For Q3 2021

    CES Energy Solutions Corp. realized improvements throughout its business lines during the third quarter amid strengthening industry conditions, notes management, including in Canada where the firm benefitted from increased drilling and completions activity, higher production volumes, and frack-related chemical sales.

    November 12, 2021, 11:19 AM MST

  • Cathedral Says Existing Market Fundamentals To Sustain Demand Into 2022

    The macro-environment for oilfield services in North America has shown steady improvement throughout 2021, and that is expected to continue in 2022, says Cathedral Energy Services Ltd.

    November 11, 2021, 10:18 AM MST

  • AKITA Sees Financial Improvement As Demand For OFS Increases

    AKITA Drilling Ltd.’s operating days increased to 1,169 in the third quarter of 2021 compared to 531 in the third quarter of 2020.

    November 10, 2021, 12 AM MST

  • MEG Increases Production Guidance After Strong Q3 Operational Performance

    After posting strong third quarter operational and financial results, MEG Energy Corp. has lifted its full-year 2021 production guidance for the third time this year.

    November 9, 2021, 9:42 AM MST

  • Enerflex Achieves Higher Year-Over-Year Bookings, But Lower Financial Results For Q3 2021

    Enerflex Ltd. reported $191 million in total bookings for Q3 2021, which is up from $23 million during the same 2020 period, says management, demonstrating an improving backdrop for the company’s engineered systems business.

    November 8, 2021, 7:19 AM MST

  • Ensign Expects Busy Winter For Canadian Operations; Sees Strong Q3 Results In Canada

    Ensign Energy Services Inc. is pushing its Canadian clients to keep drilling programs running through Christmas this year, as the company expects to be operating around 50 rigs by year-end 2021, peaking at 60 in the new year, and management wants to hang onto its crews through this period of increasing activity.

    November 8, 2021, 3:51 PM MST

  • Ensign Says COVID Protocols Help Keep Workers Safe

    Ensign Energy Services Inc.’s firm stance on COVID-19 protocol of requiring proof of vaccination or on-site rapid testing has provided worker protection at rig sites, says management, and has resulted in virtually no shutdowns.

    November 8, 2021, 4 PM MST

  • TC Energy Advances Capital Project Portfolio; Company Sees Net Income Fall For Q3 2021

    TC Energy Corporation expects its portfolio of secured capital projects will keep growing as it continues to expand, extend and modernize its existing natural gas pipeline network, advances the Bruce Power life extension program, and develops renewable energy to power certain of its proprietary energy loads, says management.

    November 5, 2021, 8:09 AM MDT

  • Pembina’s Q3 Earnings Up 82% As Industry Tailwinds Continue To Prevail

    Pembina Pipeline Corporation reported earnings of $588 million for the third quarter, 82 per cent higher than the same period in the prior year as the company benefitted from continued robust pricing across all commodities in its value chain including crude, condensate, natural gas and NGLs.

    November 5, 2021, 10:08 AM MDT

  • Pembina ‘Increasingly Optimistic’ About Business Prospects Going Forward

    A number of fundamental developments within Pembina Pipeline Corporation’s business and across the broader industry “make us increasingly optimistic about the prospects for Pembina” going forward, says president and CEO Mick Dilger.

    November 5, 2021, 1:27 PM MDT

  • Pason Expects A Slow, Steady Increase In North America Drilling Over Next Few Years, Says CEO

    Higher oil and gas prices have put drilling crews back to work across North America but don’t expect a rapid increase in activity in the next few years, Pason Systems Inc. president and chief executive officer Jon Faber told analysts at the company’s third quarter conference call Thursday morning.

    November 4, 2021, 1:04 PM MDT

  • Rig Rebound Drives Strong Third Quarter For Pason Systems

    The post pandemic pick-up in drilling across North America resulted in a major turnaround in the fortunes of integrated drilling data solutions provider Pason Systems Inc. in the third quarter of 2021. 

    November 4, 2021, 9:14 AM MDT

  • Increased Capex For PHX Energy

    PHX Energy Services Corp. has again increased its 2021 capital expenditure program, this time to $43 million from $35 million.

    November 4, 2021, 12 AM MDT

  • STEP Energy’s Revenue Surges In Q3

    STEP Energy Services Ltd. generated revenue of $133.2 million in the third quarter of 2021 (Q3 2020 - $62.4 million, Q2 2021 - $107 million), which is STEP’s strongest quarter since the start of the COVID-19 pandemic in early 2020.

    November 4, 2021, 4:53 AM MDT

  • Essential Q3 Revenue Up; Inflation A Challenge

    Essential Energy Services Ltd.’s revenue for Q3 was $33.5 million, $14.3 million higher than the same prior year quarter due to higher activity as a result of improved industry activity.

    November 4, 2021, 5:07 AM MDT

  • Conditions Have Emerged For WCS To Be ‘Among Most Valuable’ Global Crude Benchmarks: Athabasca

    In Alberta, physical markets and regional benchmark prices (WCS) have improved with higher WTI prices. Athabasca Oil Corporation expects current WCS differentials to remain stable with muted industry growth and improving basin egress, including the recently completed Enbridge Inc. Line 3 replacement.

    November 3, 2021, 3:34 PM MDT

  • IPC’s Q3 Canadian Output Up As Onion Lake Thermal Project Delivers

    International Petroleum Corporation says third quarter net production from its Canadian assets was above the high end of guidance at 39,600 boe/d with continued strong performance and high production uptime at all the oil and gas producing assets.

    November 2, 2021, 10:10 AM MDT

  • Well Services Market Improving, Calfrac Reports; Company Lifts Capital Budget

    Strong third quarter activity rates and revenues at Calfrac Well Services Ltd. are signs of a rapidly improving wells services market headed into 2022, the company said in its third quarter 2021 report to shareholders. 

    November 2, 2021, 8:45 AM MDT

  • NCS Multistage Revenues Up For Q3

    NCS Multistage Holdings, Inc.’s total revenues in Q3 were $32.4 million, a 99 per cent year-over-year increase and a 51 per cent increase compared to the second quarter of 2021.

    November 1, 2021, 2:31 PM MDT

  • ‘Strong Start’ To Q4 For CWC Energy; Secures Work On Helium, Carbon Capture

    CWC Energy Services Corp. reported a strong start to Q4 2021 with both the number of drilling rigs and service rigs back to the peak activity levels experienced this past winter in Q1 2021.

    October 29, 2021, 8:31 AM MDT

  • Pulse Seismic Resumes Regular Quarterly Dividends

    Pulse Seismic Inc.’s strong quarterly and year-to-date results have enabled its board to make additional capital allocation decisions.

    October 28, 2021, 12 AM MDT

  • Trican Expects Steady Activity To Christmas And Beyond; Positive Momentum Continues In Q3

    Trican Well Service Ltd. has enjoyed a strong start to the fourth quarter, with a busy October, and the company anticipates steady activity right up to the holidays, says Bradley Fedora, president and chief executive officer.

    October 27, 2021, 12:45 PM MDT

  • Record Revenue For Mullen

    Mullen Group Ltd. generated record quarterly revenue of $432.5 million, an increase of $141.6 million, or 48.7 per cent, as compared to $290.9 million in 2020 due to $136.5 million of incremental revenue generated from acquisitions and internal growth.

    October 27, 2021, 3:19 PM MDT

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