Cathedral Energy Services Ltd. (T:CET*CA)
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 fiscal year ended 31 December 2023, Cathedral Energy Services Ltd revenues increased 71% to C$545.3M. Net income decreased 42% to C$10.6M. Revenues reflect United States segment increase from C$180.7M to C$383.9M, Canada segment increase of 37% to C$161.4M. Net income was offset by Labor & Related Expenses in SGA increase of 97% to C$36.3M (expense), Other SGA increase of 70% to C$16.2M (expense). |
| Employees: | 320 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $321.53M as of Dec 31, 2023 |
| Annual revenue (TTM): | $533.73M as of Dec 31, 2023 |
| EBITDA (TTM): | $64.25M as of Dec 31, 2023 |
| Net annual income (TTM): | $10.63M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$3.62M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $107.55M as of Dec 31, 2023 |
| Shares outstanding: | 239,733,989 as of Apr 3, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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