Financial Results

  • Inga/Fireweed Drilling Boosts Kelt Q2 Production

    Kelt Exploration Ltd.’s second quarter 2019 average production was up 16 per cent to 30,314 boe/d from 26,120 boe/d in the comparable 2018 period due to ongoing new production from the company’s successful development pad drilling operations at its Inga/Fireweed core area.

    August 9, 2019, 6 AM MDT

  • Cathedral Makes Further Personnel ‘Adjustments,’ Updates Tech

    Cathedral Energy Services Ltd.’s 2019 activity levels in the U.S. have declined over the comparative period in 2018 as the company restructures its U.S. operations.

    August 9, 2019, 9:38 AM MDT

  • STEP Stays Disciplined On Q2 Spending; Company Has Conservative 2019 Outlook

    STEP Energy Services Ltd. is pleased with the results achieved through its conservative approach in Q2 2019, as clients stayed disciplined on their capital spending through the quarter and appear to be remaining disciplined for now.

    August 8, 2019, 11:23 AM MDT

  • Essential Energy Boosts Capex To Add Coil Tubing Rig

    Essential Energy Services Ltd. is adding another long-reach conventional coil tubing rig to its fleet based on anticipated demand from its customers.

    August 8, 2019, 2:11 PM MDT

  • Ensign Completes ‘Hybrid Rig’ Technology Test

    Ensign Energy Services Inc. has successfully completed tests of its new “hybrid rig technology” — powered by natural gas generators and a battery energy storage system (BESS) — on a U.S. drilling rig.

    August 7, 2019, 12 AM MDT

  • Liquids Growth Boosts Advantage Q2 Results

    Buoyed by an increase of 142 per cent in liquids output to 2,580 bbls/d, Advantage Oil & Gas Ltd. generated adjusted funds flow of 32.77 million in the second quarter of 2019, up from $23.16 million in the comparable 2018 period.

    August 7, 2019, 12 AM MDT

  • Enbridge To Deliver Additional 85,000 Bbls/d Of Mainline Throughput

    Shippers on the Enbridge Inc. Mainline who have faced apportionment for a number of years will benefit from approximately 85,000 bbls/d of additional throughput from Western Canada late this year, says the company.

    August 2, 2019, 11:27 AM MDT

  • Second Half 2019 Fracturing Activity Should Increase, Says Calfrac Boss

    Despite limited insight into producer intentions and an oversupply of fracturing spreads in North America, Calfrac Well Services Ltd. president and COO Lindsay Link expects the remainder of 2019 to be busier than the first half of the year.

    August 2, 2019, 6 AM MDT

  • Pembina Eyeing Northeast B.C. Fractionator

    With construction underway on its propane export terminal at Prince Rupert, Pembina Pipeline Corporation is talking to its customers about a fractionator in northeast British Columbia, a company official said Thursday.

    August 2, 2019, 12 AM MDT

  • Tervita’s Growth Capital Focused On Montney, Duvernay Energy Services

    Tervita Corporation says its growth and expansion projects are largely focused in its Energy Services segment to grow the company’s ability to meet customer demands in the Montney and Duvernay regions of Alberta and British Columbia.

    August 2, 2019, 9:34 AM MDT

  • Matting Matters: Strad Boosts 2019 Capex As Q2 Shows Segment Opportunities

    Strad Inc. is increasing full-year 2019 capital budget to $35 million, which is up from a previously-announced $26 million, with about half deployed in the U.S., as the company continues developing its industrial matting business.

    August 2, 2019, 10:17 AM MDT

  • Source Energy’s Sand Volumes, Revenues Down In Q2

    It was a tough second quarter of 2019 for frack sand and proppant provider Source Energy Services Ltd., with a fatal accident at one of its key terminals and weather that hampered its customers’ activities, leading to a significant decline in sand volume and revenue compared to the same quarter last year.

    August 2, 2019, 8:34 AM MDT

  • U.S. Opportunities Should Continue In Back Half Of 2019: CWC

    While Canada’s oilfield service activity remains muted, for CWC Energy Services Corp., the American energy sector keeps offering exponential growth opportunities, and the company is increasing its U.S. presence accordingly.

    August 2, 2019, 12 AM MDT

  • AKITA Suspends Dividends To Pay Down Debt

    AKITA Drilling Ltd. is suspending dividends on its Class-A non-voting and Class-B common shares in order to pay down its debt. At the mid-point of 2019 the company’s debt was $84.27 million.

    August 2, 2019, 7:01 AM MDT

  • Additional Operating Days Boost Stampede Drilling Revenue

    Stampede Drilling Inc. boosted revenue from continuing operations in the second quarter of 2019 to $3.32 million from $1.45million in the 2018 quarter as a result of an increase in operating days due to a higher marketable rig count.

    August 2, 2019, 7:16 AM MDT

  • Trican Deals With Oversupply Of Equipment Across The Energy Sector In Q2

    Trican Well Service Ltd. anticipates its activity levels to be proportionately lower in Q3 2019 in line with industry trends of rig counts at 30 per cent below Q3 2018 levels due to continued market uncertainties.

    August 1, 2019, 11:43 AM MDT

  • Fracturing Slowdown Hits Calfrac’s Second Quarter Results

    An 18 per cent decline in the number of fracturing jobs completed resulted in Calfrac Well Services Ltd. reporting lower revenues and a larger operating loss in the second quarter of 2019 when compared to the same period of 2018.

    August 1, 2019, 9:35 AM MDT

  • Husky Q2 Results Affected By Lower Production, Throughputs

    Lower production and reduced throughputs due primarily to a heavy maintenance turnaround schedule and non-routine write-offs and expenses, affected Husky Energy Inc.’s second quarter 2019 results with lower funds flow and net income.

    July 25, 2019, 10:37 AM MDT

  • Enbridge Canadian Mainline Sets New Throughput Record In First Quarter

    Throughout on the Canadian Mainline was a record 2.717 million bbls/d in the first quarter of 2019, up from 2.625 million bbls/d in the first quarter of 2018, due largely to strong supply and continued optimization of the system which is expected to remain full this year, the company said today. 

    May 10, 2019, 11:38 AM MDT

  • Husky Profit Up In Q1 Thanks To Integrated Model: CEO

    Husky Energy Inc. reported a 52 per cent year-over-year increase to its net income in Q1 despite production quotas and essentially flat oil prices, which CEO Rob Peabody said is a result of its integrated strategy.

    April 26, 2019, 9:44 AM MDT

  • STEP Boosts Quarterly Revenue, Cuts Planned Capex

    The purchase earlier this year by Calgary-based fracturing specialist STEP Energy Services Ltd. of a Houston-based privately-held fracturing and completion solutions company has paid off, with business generated by the Oklahoma-focused company it bought compensating for lower financial results for the company in Canada.

    November 12, 2018, 9:59 AM MST

  • Wet September Results In Flat Third Quarter Results For Essential

    After relatively strong activity throughout the summer, a wet September slowed demand for Essential Energy Services Ltd.’s coiled tubing rigs and pumper units as the third quarter came to a close.

    November 8, 2018, 10:54 AM MST

  • Devon Shuts-In 25,000 Bbls/d At Jackfish, Looks To Add Rail Transport

    In response to weak prices and vast differentials for Canadian heavy crude, Devon Energy Corporation has curtailed output from its Jackfish SAGD complex by about 25,000 bbls/d, company officials said this morning.

    November 7, 2018, 11:24 AM MST

  • CWC Reports Improved Q3 Results

    CWC Energy Services Corp., Canada’s largest well servicing company as measured by operating hours, has reported good third quarter financial results, thanks to its concentration on light oil and natural gas liquids plays in the Western Canadian Sedimentary Basin (WCSB).

    November 6, 2018, 11:33 AM MST

  • Ensign Boosts Q3 Revenue 17 Per Cent; Canadian Operations Lag

    Ensign Energy Services Inc. increased consolidated revenue in the third quarter by 17 per cent to $288.7 million from $247.1 million a year earlier, although Canadian operations were down year-over-year.

    November 5, 2018, 8:56 AM MST

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