Financial Results

  • 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

  • Pembina’s Q3 Results Driven In Part By Acquisitions, New Assets

    Pembina Pipeline Corporation reported strong third quarter results with growing volumes leading to higher earnings and adjusted EBITDA.

    November 2, 2018, 11:44 AM MDT

  • Source’s Q3 Results Impacted By ‘Unpredictable’ Operating Environment

    Source Energy Services Ltd., Canada’s largest frac sand services provider, released disappointing third quarter results Thursday, surprising analysts and investors, who had been told by company executives to expect strong results for the quarter, after the release of second quarter results this past summer.

    November 2, 2018, 9:21 AM MDT

  • Husky CEO Sees Differential Blowout As ‘Slowest Train Crash’; Doesn't Expect MEG Bidding War

    The fault for the recent record-setting blowout of the Canadian heavy crude differential lies “in a whole bunch of parties, including the industry,” says the CEO of Husky Energy Inc.

    October 25, 2018, 11:37 AM MDT

  • Higher Day Rates, U.S. Operations Help Offset Lower Q2 Activity For AKITA

    The impact of lower activity levels for AKITA Drilling Ltd. in Canada in the second quarter of 2018 compared to the previous year was offset somewhat by increased day rates in Canada as well as higher utilization in the United States, said the company.

    July 31, 2018, 6 AM MDT

  • Second Half 2018 Activity Likely To Be Similar To 2017 Period, Says Western

    Western Energy Services Corp. continues to work with its customers to further increase pricing to more sustainable levels that can better support reinvestment in the business, says the company’s chief executive.

    July 27, 2018, 11:40 AM MDT

  • Mullen Boosts Capex On Positive Oil And Gas Outlook

    Mullen Group Ltd. has approved a capital budget increase of $20 million, increasing to $60 million from $40 million — a direct result of recent positive announcements regarding the oil and natural gas sector along with some accretive investment opportunities within the Oilfield Services (OFS) segment.

    July 27, 2018, 11:11 AM MDT

  • Husky Hikes Dividend, Posts $448 Million Second Quarter Profit

    Husky Energy Inc. today announced a dividend increase as it reported a $448 million profit for the second quarter, reflecting improved oil prices and the benefits of upstream and downstream integration.

    July 26, 2018, 10:23 AM MDT

  • Market Conditions Improve, But Precision Still In Red Due To Higher Share-Based Compensation Costs

    Precision Drilling Corporation reported higher revenues due to improved activity levels and higher day rates in the second quarter of 2018 compared to a year earlier.

    July 26, 2018, 9:43 AM MDT

  • Calfrac Posts Big Gain In Revenue, Operating Income In Q2

    Calfrac Well Services Ltd. boasted record second-quarter revenue and operating income as activity picked up in Canada and the United States.

    July 25, 2018, 11:48 AM MDT

  • Aveda Books Higher Q1 Revenue

    May 30, 2018, 6 AM MDT

  • U.S. Key Focus Region For Growth, Says DIVERGENT

    Following two consecutive quarters of improved operational and financial performance, Calgary-based DIVERGENT Energy Services Corp. says it has begun active sales in Colorado.

    May 30, 2018, 10:15 AM MDT

  • Strad Canadian Revenue Down While U.S. Revenue Climbs In Q1

    Strad Energy Services Ltd.’s first quarter consolidated revenue increased three per cent to $28.36 million compared to $27.77 million for the same period in 2017, but Canadian revenue was down nine per cent.

    May 15, 2018, 6 AM MDT

  • Low Gas Prices Expected To Curtail Tidewater Transportation Volumes

    Tidewater Midstream and Infrastructure Ltd. is forecasting lower processing and transportation volumes through the second and third quarters of 2018 before returning to historical levels in the fourth quarter as producers curtail natural gas production in response to low AECO prices.

    May 14, 2018, 9:31 AM MDT

  • Total Energy’s Q1 Revenues Soar 143 Per Cent

    Total Energy Services Inc.’s first quarter results improved significantly compared to the first quarter of 2017 due to the increased size and scale of operations following the acquisition of Savanna Energy Services Corp. in the second quarter of 2017.

    May 11, 2018, 10:18 AM MDT

  • Essential Q1 Revenue Climbs; Company Outlines Contribution To Deepest Well

    Revenue for Essential Energy Services Ltd. $60.1 million, a seven per cent increase compared to the first quarter 2017, with strong activity experienced by Essential Coil Well Service (ECWS) and Tryton.

    May 11, 2018, 6:55 AM MDT

  • Record Revenue For CES

    Revenue for the three months ended March 31, 2018  for  CES Energy Solutions Corp. of $300.3 million is the highest revenue quarter in the company’s history exceeding the previous record quarter which was Q4 2017 with $278.8 million. 

    May 11, 2018, 7:06 AM MDT