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CWC Energy Services Corp. (V:CWC)

Business Focus: Oil Related Services

Sector:  Energy Industry:  Oil Related Services and Equipment
 
See Regulatory Filings on SEDAR
Company Contact
Address: Bow Valley Square II
, Suite 610, 205 - 5th Ave SW
CALGARY AB T2P 2V7
Tel: N/A
Website: www.cwcenergyservices.com
IR: See website
Key People
Duncan T. Au
President, Chief Executive Officer, Director
Stuart King
Chief Financial Officer
Darwin L. McIntyre
Vice President - Operations, Eastern
Robert Charles Nelson Apps
Vice President of Sales and Marketing (Drilling)
Mike DuBois
Vice President, Sales & Marketing (Well Services)
Danielle Leger
Corporate Controller
James L. Kidd
Corporate Secretary
   
Business Overview
Cwc Energy Services Corp, formerly CWC Well Services Corp, is a Canada-based is an oilfield service company. The Company operates through two segments: Contract Drilling and Production Services. The Company provides contract drilling through its CWC Ironhand Drilling division and production services, including service rigs and coil tubing through its CWC Well Services division. The Company operates in the Western Canadian Sedimentary Basin (WCSB). It provides oilfield services, including drilling rigs, service rigs, and coil tubing units. Its contract drilling services are performed using drilling rigs and auxiliary equipment. The Production Services segment consists of the service rig and coil tubing operating under the CWC Well Services brand name. It operates a fleet of approximately 70 service rigs. It provides coil tubing services for workover operations, shallow drill outs and extensions into producing zones.
Financial Overview
For the three months ended 31 March 2020, CWC Energy Services Corp revenues increased 7% to C$33.5M. Net loss increased from C$47K to C$19.2M. Revenues reflect Contract Drilling segment increase of 39% to C$12.7M. Higher net loss reflects Loss on disposal of equipment increase from C$22K (income) to C$1.1M (expense), Selling and administrative expenses increase of 31% to C$1.7M (expense).
Employees: 768 as of Dec 31, 2017
Reporting Currency: Canadian Dollars
Enterprise value: $103.89M as of Mar 31, 2020
Annual revenue (TTM): $110.73M as of Mar 31, 2020
EBITDA (TTM): $12.32M as of Mar 31, 2020
Net annual income (TTM): -$20.83M as of Mar 31, 2020
Free cash flow (TTM): $2.43M as of Mar 31, 2020
Net Debt Last Fiscal Year: $43.14M as of Mar 31, 2020
Shares outstanding: 507,578,849 as of Mar 31, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization