Through organizational and structural changes, Secure Energy Services Inc. expects the reductions made to its fixed cost structure will result in annualized savings to adjusted EBITDA in excess of $40 million, the majority of which is expected to remain regardless of increases in activity levels.
July 29, 2020, 12 AM MDT
Because of what it called “demand destruction as a result of the COVID-19 pandemic,” Western Energy Services Corp. saw revenue in both the U.S. and Canada plunge in the second quarter of 2020, leading to a net loss of $8 million in the quarter, as revenue decreased by 71 per cent.
July 28, 2020, 5:03 AM MDT
Reduced drilling programs in response to the global economic slowdown weighed on Precision Drilling Corporation’s operating days and revenues in all three of its operating regions in the second quarter of 2020.
July 23, 2020, 9:33 AM MDT
Pulse Seismic Inc.’s revenue totalled $1.94 million in the second quarter of 2020, down significantly from $10.78 million in the comparative quarter in 2019 as customers trimmed capital budgets in the wake of the pandemic and decline in oil prices.
July 23, 2020, 6 AM MDT
July 22, 2020, 7:19 AM MDT
July 20, 2020, 7:14 AM MDT
Commercializing its RapidFire MWD platform remains a key initiative for Cathedral Energy Services Ltd. in 2020, management says, although reduced drilling activity negatively impacts testing and commercial deployment.
June 25, 2020, 8:28 AM MDT
Calfrac Well Services Ltd. posted a loss of $122.86 million in the first quarter of 2020 as revenue fell 36 per cent to $305.52 million from $475.01 million amid a slowdown in the global economy from COVID-19 and the effects of the price war on the oil industry.
June 25, 2020, 11:22 AM MDT
Calfrac Well Services Ltd. says it is continuing to rely on ASC Blanket Order 51-517, Temporary Exemption from Certain Corporate Finance Requirements, to postpone the filing of its interim financial statements for the three month period ended March 31, 2020, and associated MD&A.
June 17, 2020, 10:47 AM MDT
Cathedral Energy Services Ltd. anticipates filing its interim financial statements and related MD&A for the quarter ended March 31, 2020, on or about June 25.
June 17, 2020, 10:55 AM MDT
Canadian oilfield services companies had to adjust to COVID-19 and a dramatic drop in oil prices near the end of the first quarter.
June 1, 2020, 6:32 AM MDT
The Saudi-Russia price war coupled with the global pandemic has forced Western Energy Services Corp. to cut its capital budget and workforce.
May 22, 2020, 10:43 AM MDT
STEP Energy Services Ltd. has further reduced its 2020 budget to $15.5 million, which is a reduction of 67 per cent from the initial $47 million program.
May 21, 2020, 8:44 AM MDT
CES Energy Solutions Corp. was exploring the possibility of expanding its oilfield services business beyond the North American market before the most recent oil price collapse put those plans on hold.
May 19, 2020, 9 AM MDT
While March activity levels declined due to COVID-19 and the low oil prices, CES Energy Solutions Corp. increased its market position in the quarter.
May 19, 2020, 7:28 AM MDT
High Arctic Energy Services Inc. expects the next few months (and potentially quarters) to be difficult, but also believes that it can manage through these challenging times given its strong customer relationships, continued service quality, and an ability to capitalize on Canadian government industry supports during the COVID-19 downturn.
May 15, 2020, 6:28 AM MDT
PHX Energy Services Corp. expects its capital expenditures to total $27.5 million in 2020, as compared to this year’s previously-forecasted spending budget of $30 million.
May 15, 2020, 6:17 AM MDT
Over the past week or so, Tidewater Midstream and Infrastructure Ltd. has seen a significant improvement at its Prince George refinery in rack prices for gasoline and diesel along with increased demand, the company’s chief executive said Thursday.
May 15, 2020, 6:11 AM MDT
Trican Well Services Ltd. expects the second quarter will be the most challenging the Canadian energy market has experienced in a very long time, but the company also sees some rays of hope in the form of natural gas.
May 14, 2020, 2:57 PM MDT
Keyera Corp. had a strong start to the year with record EBITDA (adjusted earnings before interest, taxes, depreciation and amortization) of $327 million in the first quarter, up from $164 million in the comparable 2019 period.
May 13, 2020, 8:47 AM MDT
Cathedral Energy Services Ltd. is postponing the filing of its interim financial statements and related management’s discussion and analysis for the interim period ended March 31, 2020, due to the ongoing COVID-19 pandemic.
May 11, 2020, 10:12 AM MDT
Pembina Pipeline Corporation recorded first quarter 2020 earnings of $314 million, in line with $313 million in the comparable 2019 period.
May 8, 2020, 11:17 AM MDT
Enerflex Ltd. realized improved new equipment bookings and high operational effectiveness in Q1 2020 versus Q1 2029. However, in light of COVID-19 impacts for the sector, management is implementing business and financial actions to mitigate energy market downside risk.
May 8, 2020, 11:14 AM MDT
Total Energy Services Inc. has made “unprecedented adjustments” to its North American cost structure in arguably the most challenging operating environment in its 24 years, says the company’s chief executive.
May 7, 2020, 2:54 PM MDT
Enbridge Inc. reported improved adjusted earnings in the first quarter of 2020 while posting a $1.43 million loss due to a non-cash impairment of $1.74 million of its investment in DCP Midstream and non-cash unrealized derivative fair value losses of $1.96 million.
May 7, 2020, 11:05 AM MDT
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