Financial Results

  • Q1 Round-Up: Spending For Advantage Now At $130-$145MM; Painted Pony To Review Second Half Spending

    In response to the current shift in commodity prices, Advantage Oil & Gas Ltd. has lowered 2020 capital guidance to between $130 million and $145 million, with plans to moderate liquids growth and focus spending on the highest rate-of-return investments at Glacier.

    May 7, 2020, 7:09 AM MDT

  • STEP Delays Filing Q1 Financials

    STEP Energy Services Ltd. is postponing the filing of interim financial statements for the three months ended March 31, 2020.  

    May 6, 2020, 7:07 AM MDT

  • AKITA Running One Rig In Canada At The End Of April; Net Loss Deepens For Q1 2020

    AKITA Drilling Ltd. had four rigs running in Canada at the end of March, which has since decreased further to one rig at the end of April.

    May 6, 2020, 9:05 AM MDT

  • Gibson Adjusts to COVID-19; Company Sees Increased Infrastructure Profits For Q1 2020

    Gibson Energy Inc. witnessed a “profound shift” near the end of the first quarter in the near- to- medium-term outlook for the global energy industry with the outbreak of COVID-19, says management.

    May 5, 2020, 9:55 AM MDT

  • Net Income Up At TC Energy As Utilization Remains Strong

    TC Energy Corporation posted first quarter 2020 net income attributable to common shares of $1.15 billion ($1.22 per share), up from $1 billion ($1.09 per share) in the same period in 2019.

    May 1, 2020, 9:36 AM MDT

  • Husky To Take Cautious Capital Approach When Conditions Eventually Begin To Improve

    Husky Energy Inc. will take a slow and cautious approach to increasing activity and spending once macroeconomic conditions begin to improve, says president and CEO Rob Peabody.

    April 30, 2020, 12 AM MDT

  • Pason Lowers Spending Outlook

    Pason Systems Inc. now intends to spend approximately $10 million in capital expenditures in 2020, which includes the capitalized portion of R&D, down from $25 million announced at the beginning of the year.

    April 30, 2020, 3:07 PM MDT

  • Precision Sees Less Revenue For Q1 2020; Company Navigating Through Current Downturn

    Precision Drilling Corporation’s Q1 2020 results were only nominally impacted by the oil-price collapse, says top brass, but the company expects a significant and sustained reduction in customer demand for oil and gas services well into next year.

    April 30, 2020, 7:18 AM MDT

  • Husky Planning For Extended Downturn, Earnings Hammered On Impairment Charges/Write-downs

    Husky Energy Inc.’s top executive says the company continues to take the needed steps to navigate through the current treacherous industry conditions but warns that an economic recovery and a rebound for the energy sector won’t be happening anytime soon.

    April 29, 2020, 10:34 AM MDT

  • Calfrac Makes Further Reductions To Staffed Fleets

    In response to the continued deterioration of industry conditions since March 27, 2020, Calfrac Well Services Ltd.  has implemented further reductions to the number of staffed fleets capable of being deployed in its North American operations, which have decreased from 19 as of Feb. 29, 2020 to five fleets at present. 

    April 29, 2020, 3:34 AM MDT

  • Secure Delays Planned Divestiture Program; Posts Q1 2020 Net Loss

    Secure Energy Services Inc. will continue to control what it can control during the current industry cycle, says top brass. And while things such as commodity prices and demand, supply and inventory, as well as how those factors will “shake out” long-term are beyond the company’s control, other things are within its purview.

    April 28, 2020, 11:22 AM MDT

  • Mullen Group Was Enjoying A Strong Q1 Right Up Until COVID-19 Hit In Mid-March

    Mullen Group Ltd. was performing ahead of last year, with the company on target to meet its expectations for the first quarter of 2020 right up until mid-March, says top brass. Then COVID-19 severely impacted many business units late in Q1, including those tied to the upstream oil and gas sector.

    April 23, 2020, 11:19 AM MDT

  • Pipestone Gas Plant Throughput At Design Capacity

    All third-party infrastructure is now in place at the Pipestone gas plant and throughput has reached design capacity with volumes currently averaging 95 mmcf/d, says Tidewater Midstream and Infrastructure Ltd.

    April 17, 2020, 8:53 AM MDT

  • ‘Modest’ Capital Plan For Cathedral

    Cathedral Energy Services Ltd.’s 2020 capital plan will be modest, and the company expects its net equipment additions (equipment additions less proceeds on equipment lost downhole) to be in the range of $nil to $2.5 million, depending on the level of lost-in-hole proceeds.

    March 16, 2020, 9:13 AM MDT

  • Horizon North Forms New Company, Suspends Dividend Program

    Horizon North Logistics Inc. has announced plans to join with Dexterra Integrated Facilities Management to create a “pan-Canadian” support services company.

    March 16, 2020, 10:48 AM MDT

  • Total Energy Cuts Spending, Halts Dividend

    Total Energy Services Inc. has suspended its dividend and slashed spending plans by more than half in light of “global economic uncertainty and market volatility” compounded by increasing concerns over the potential economic impact of the coronavirus and recent turmoil in global oil markets.

    March 13, 2020, 10:32 AM MDT

  • Cost Management Helps STEP Maintain Margins In 2019

    STEP Energy Services Ltd.’s Canadian operations posted stronger adjusted EBITDA margins for both the 2019 fourth quarter and full year at 13 per cent of revenue (2018-nine per cent) and 18 per cent (2018-16 per cent) respectively.

    March 13, 2020, 9:02 AM MDT

  • Tidewater’s New Assets Boost 2019 Results

    New assets placed into service in 2019, including the Pipestone Gas Plant and the acquisition of the Prince George Refinery, helped Tidewater Midstream and Infrastructure Ltd. post record adjusted EBITDA of nearly $40 million (12 cents per  share) in the fourth quarter of 2019.

    March 13, 2020, 11:01 AM MDT

  • Ensign Energy Records Net Loss, Grows Revenues In 2019

    Drilling operating days were up in Ensign Energy Services Inc.’s Canadian and American drilling segments year-over-year in 2019.

    March 10, 2020, 8:44 AM MDT

  • AKITA Continues Rig Relocation Plan

    AKITA Drilling Ltd. moved an AC pad heavy double drilling rig out of Canada to the Permian Basin in January 2020, bringing the company's total rig count in the U.S. to 18 rigs with 13 rigs located in the Permian Basin area where the company's presence continues to grow.

    March 9, 2020, 8:39 AM MDT

  • Calfrac Sees Lower Revenues In 2019

    Calfrac Well Services Ltd. reported lower revenues across all four of its operating areas in 2019.

    March 5, 2020, 8:58 AM MST

  • Western Reports Q4 Revenue Decrease

    Western Energy Services Corp.’s fourth quarter revenue decreased by $17.3 million to $45.8 million in 2019 as compared to $63.1 million in 2018.

    March 3, 2020, 8:07 AM MST

  • Strad Nearly Doubles U.S. Matting Fleet In 2019

    Strad Inc. continues to see potential for growth in its industrial matting business south of the border after a strong 2019.

    March 2, 2020, 12 AM MST

  • Tight Labour Market, Delayed Projects Curb CWC Energy Services Full-Year Results

    Crew shortages and postponed drilling projects hampered CWC Energy Services Corp.’s full-year 2019 earnings results.

    March 2, 2020, 12 AM MST

  • Expansion Planned For Pembina Prince Rupert Propane Export Terminal

    Pembina Pipeline Corporation in response to customer demand has decided to proceed with a $175 million expansion of its Prince Rupert propane export terminal which currently is under construction on Watson Island, the company said today.

    February 28, 2020, 10:44 AM MST

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