Financial Results

  • Western Energy Decreases 2019 Capex Due To Decreased Activity Levels

    Western Energy Services Corp. is decreasing its 2019 capital budget to $9 million, from the previous $15 million, due to decreased activity levels.

    October 24, 2019, 8:51 AM MDT

  • Cordy Sees Revenue Increases In Environmental Services For Q2 2019

    Cordy Oilfield Services Inc.’s diversification strategy benefitted its Q2 2019 financial and operational results, which met management’s expectations and reflect modest growth and ongoing challenges in new market realities.  

    August 16, 2019, 8:17 AM MDT

  • High Arctic Q2 Snubbing Hours Up, Looks To U.S. For More Jobs

    High Arctic Energy Services Inc.’s second quarter revenue took a hit as a result of slow activity in Canada and longer than anticipated ramp up times in the United States.

    August 14, 2019, 6 AM MDT

  • CES Sees Revenue Increases In U.S., Decreases In Canada, For Q2 2019

    CES Energy Solutions Corp. remains “deeply disappointed” with the federal government’s “terrible public policy” for Canada’s energy sector, says top brass, but the company also remains committed to Canada — a market still holding much potential thanks to what CES can offer LNG developments and oilsands production.

    August 13, 2019, 6 AM MDT

  • Bri-Chem Increases EBITDA, But Revenue Falls For Q2 2019

    While Bri-Chem Corp. saw sales declines for the second quarter of 2019, management also managed to reduce the company’s net loss for the quarter.

    August 13, 2019, 6 AM MDT

  • Pason Maintains Modest Capital Spending In Q2; Keeps Eye Out For Good Deals

    Pason Systems Inc. remains open to using mergers and acquisitions — made available through challenging times in the industry — as a means of reinforcing its initiatives in areas not directly tied to North American land drilling.

    August 12, 2019, 10:31 AM MDT

  • Pipestone Energy Reduces Capital Guidance

    Pipestone Energy Corp. says its net capital investment program continues to be on-track, on-time, and either on or under budget resulting in a reduced net capital guidance range for 2019 of $145 million to $155 million.

    August 12, 2019, 12 AM MDT

  • Inter Pipeline Selling European Storage Business To Fund Large Alberta Growth

    Inter Pipeline Ltd.’s bulk liquid storage business in Europe stands out as the right asset to monetize as the company funds a substantial growth program in Alberta including the $3.5-billion Heartland Petrochemical Complex (HPC), executives said on Friday.

    August 9, 2019, 11:21 AM MDT

  • Enerflex Always Open To Good M&A Deals; Posts Stronger Results For Q2 2019

    Enerflex Ltd. does not intend to increase 2019 capital spending beyond the roughly $160 million laid out at the start of this year, says top brass, but the company still keeps an eye out for promising merger and acquisition deals.

    August 9, 2019, 11:47 AM MDT

  • Total Energy Ramps Up U.S. Presence In Q2

    Total Energy Services Inc.’s second quarter results clearly reflect the year-over-year decline in drilling in Canada coupled with the company’s strategy to make money outside of the country.

    August 9, 2019, 10:58 AM MDT

  • 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