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Cathedral Energy Services Ltd. (T:CET)

Business Focus: Oil & Gas Drilling

Sector:  Energy Industry:  Oil & Gas Drilling
See Regulatory Filings on SEDAR
Company Contact
Address: 6030 - 3RD STREET S.E.
Tel: N/A
IR: See website
Key People
Roderick D. Maxwell
Chairman of the Board
Peter Scott Macfarlane
President, Chief Executive Officer, Director
Michael F. Hill
Chief Financial Officer
Randal H. Pustanyk
Chief Operating Officer, Executive Vice President, Corporate Secretary, Director
David Diachok
Vice President - Sales
Bogdan Alexandru Picioreanu
Vice President - Research and Development
Neil Schappert
Vice President - U.S. Directional Drilling
Business Overview
Cathedral Energy Services Ltd is a Canada-based company, which is engaged in the business of providing selected oilfield services to oil and natural gas exploration and development entities in western Canada and the United States. The Company carries on its activities in Canada and the United States under the name Cathedral Energy Services with operating division Directional Drilling. The Directional Drilling division provides horizontal, directional and underbalanced drilling services. The Directional Drilling division has approximately 60 Measurement While Drilling (MWD) systems in Canada and over 80 in the United States.
Financial Overview
For the six months ended 30 June 2021, CathedralEnergy Services Ltd revenues decreased 34% to C$18.7M. Netloss decreased 52% to C$7.9M. Revenues reflect UnitedStates segment decrease of 47% to C$4.1M. Lower net lossreflects Impairment and direct write decrease from C$7M(expense) to C$0K, Foreign exchange gain (loss) increasefrom C$1.3M (expense) to C$918K (income).
Employees: 185 as of Dec 31, 2020
Reporting Currency: Canadian Dollars
Enterprise value: $58.65M as of Jun 30, 2021
Annual revenue (TTM): $31.13M as of Jun 30, 2021
EBITDA (TTM): -$6.22M as of Jun 30, 2021
Net annual income (TTM): -$19.26M as of Jun 30, 2021
Free cash flow (TTM): -$1.56M as of Jun 30, 2021
Net Debt Last Fiscal Year: $19.18M as of Jun 30, 2021
Shares outstanding: 80,190,153 as of Sep 9, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization