Cathedral Energy Services (TSE:CET) has released an update.
Cathedral Energy Services Ltd. reports a record-breaking first quarter in 2024, with revenues soaring to an all-time high of $165.0 million, marking a 24% increase from the previous year. The company’s Adjusted EBITDAS also surged by 89% to $28.8 million, amidst operational growth in both Canadian and U.S. markets despite industry-wide rig count declines. In a strategic move to boost margins, Cathedral actively expands its U.S. directional business with new technology deployments and enlarges its fleet of advanced drilling tools.
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