Cathedral Energy Services Ltd. (T:CET)
Business Focus: Oil & Gas Drilling (NEC)
| Sector: Energy | Industry: Oil & Gas Drilling |
| Company Contact | |
| Address: | 6030 - 3RD STREET S.E. CALGARY AB T2H 1K2 |
| Tel: | N/A |
| Website: | https://www.cathedralenergyservices.com |
| IR: | See website |
| Key People | ||
| Thomas Joseph Connors President, Chief Executive Officer, Director | Peter Scott Macfarlane Interim Chief Financial Officer | W. Lee Harns President, Altitude Energy Partners (US Operations) |
| Fawzi Irani President, Discovery Downhole Services (US Operations) | Randal H. Pustanyk Executive Vice President | Vaugn Spengler Senior Vice President of Canadian Operations |
| Business Overview |
| Cathedral Energy Services Ltd. is a Canada-based company, which operates in the United States (U.S.) under Discovery Downhole Services, a division of Cathedral Energy Services Inc., Altitude Energy Partners, LLC and Rime Downhole Technologies, LLC. The Company is involved and engaged in the business of providing directional drilling services to oil and natural gas companies in Western Canada and the U.S. Its services include directional drilling, drilling optimization, well planning and automated gamma services (AGS) and remote drilling. Its products include nDURANCE MOTORS, Measurement While Drilling (MWD), FUSION and RapidFire. Its MWD sensors collect data used to determine basic trajectory parameters, such as inclination, direction, and tool-face orientation. Its FUSION family OF MWD tools include FUSION Dual Telemetry (DT), FUSION WPR (Wave Propagation Resistivity), FUSION Gamma Ray (GR) and The Hawk. Its RapidFire family of MWD tools include RapidFire Pulse and RapidFire DT. |
| Financial Overview |
| For the nine months ended 30 September 2023, Cathedral Energy Services Ltd revenues increased from C$177.2M to C$388.3M. Net income increased 10% to C$8.9M. Revenues reflect United States segment increase from C$94.9M to C$276.2M, Canada segment increase of 49% to C$112.1M. Net income was partially offset by Direct costs increase from C$16.1M to C$37.7M (expense), Provision increase from C$0K to C$4.3M (expense). |
| Employees: | 302 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $263.65M as of Sep 30, 2023 |
| Annual revenue (TTM): | $516.83M as of Sep 30, 2023 |
| EBITDA (TTM): | $66.39M as of Sep 30, 2023 |
| Net annual income (TTM): | $19.13M as of Sep 30, 2023 |
| Free cash flow (TTM): | $66.64M as of Sep 30, 2023 |
| Net Debt Last Fiscal Year: | $112.44M as of Sep 30, 2023 |
| Shares outstanding: | 241,655,056 as of Nov 16, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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