Western Energy Services ( (TSE:WRG) ) has issued an announcement.
Western Energy Services Corp. reported its financial and operational results for the fourth quarter and full year of 2024. The company experienced a 6% increase in fourth-quarter revenue compared to the previous year, driven by higher contract drilling revenue in Canada, despite a net loss of $2.0 million. The year-end results showed a 4% decrease in annual revenue due to reduced activity in the US and lower third-party recoveries in Canada. The company extended the maturity date of its Second Lien Facility, reflecting strategic financial management amidst fluctuating market conditions.
More about Western Energy Services
Western Energy Services Corp. operates in the energy services industry, focusing primarily on contract drilling and production services. The company is engaged in providing drilling rig services in Canada and the United States, catering to the oil and gas sector.
YTD Price Performance: -13.60%
Average Trading Volume: 4,133
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$79.53M
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