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Cathedral Energy Services Ltd. (T:CET)

Business Focus: Oil & Gas Drilling (NEC)

Sector:  Energy Industry:  Oil & Gas Drilling
 
See Regulatory Filings on SEDAR
Company Contact
Address: 6030 - 3RD STREET S.E.
CALGARY AB T2H 1K2
Tel: N/A
Website: www.cathedralenergyservices.com
IR: See website
Key People
Thomas Joseph Connors
President, Chief Executive Officer, Director
Ian Graham
Chief Financial Officer
Randal H. Pustanyk
Executive Vice President, Company Secretary, Director
Fawzi Irani
Senior Vice President - US Operations
David Diachok
Vice President - Sales
Bogdan Alexandru Picioreanu
Vice President - Technology
Business Overview
Cathedral Energy Services Ltd. is a Canada-based energy services company. The Company is engaged in the business of providing directional drilling services to oil and natural gas companies in western Canada and the United States. The Company provides horizontal and directional drilling services. These services are provided in conjunction with the use of drilling rigs provided by drilling contractors who deal independently with Company's customers. Its Measurement-While-Drilling (MWD) systems are installed in the drill string as part of the bottom hole assembly (BHA) to provide measurements of trajectory parameters, such as inclination, direction, tool-face and temperature. Its MWD fleet consists of technologies, such as RapidFire, FUSION, FUSION EM (Electro Magnetic), FUSION RP (Rotary Pulse), FUSION DT (Dual Telemetry), FUSION LP (Linear Pulse) and FUSION EMc2 Downhole Generator, among others. Its Canadian operations facilities are located in Calgary, Alberta and Nisku, Alberta.
Financial Overview
For the six months ended 30 June 2022, Cathedral Energy Services Ltd revenues increased from C$18.7M to C$62M. Net loss decreased 93% to C$581K. Revenues reflect Canada segment increase from C$3.2M to C$38.5M, United States segment increase from C$4.1M to C$23.5M. Lower net loss reflects Gain on disposal of equipment increase from C$244K to C$2.1M (income), Acquisition and restructuring costs decrease of 37% to C$332K (expense).
Employees: 155 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $167.98M as of Jun 30, 2022
Annual revenue (TTM): $105.87M as of Jun 30, 2022
EBITDA (TTM): $10.67M as of Jun 30, 2022
Net annual income (TTM): -$1.28M as of Jun 30, 2022
Free cash flow (TTM): -$12.26M as of Jun 30, 2022
Net Debt Last Fiscal Year: $14.30M as of Jun 30, 2022
Shares outstanding: 212,980,696 as of Jul 14, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization