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Western Energy Services ( (TSE:WRG) ) has shared an update.
Western Energy Services Corp. reported a decrease in second-quarter 2025 revenue to $40 million, down 7% from the previous year, primarily due to lower production services revenue despite increased contract drilling in Canada. The company achieved an 11% increase in Adjusted EBITDA to $5.9 million, aided by lower reorganization costs, but faced a net loss of $4.6 million. Operationally, Canadian drilling rig utilization improved to 25%, while service rig utilization dropped to 19% due to changes in customer programs. In the U.S., the company shifted focus to North Dakota, resulting in an 8% increase in revenue per operating day.
Spark’s Take on TSE:WRG Stock
According to Spark, TipRanks’ AI Analyst, TSE:WRG is a Neutral.
Western Energy Services’ overall score reflects financial resilience amidst profitability challenges and modest technical momentum. Valuation issues due to negative earnings drag the score down, while positive corporate events support stability.
To see Spark’s full report on TSE:WRG stock, click here.
More about Western Energy Services
Western Energy Services Corp. operates in the energy sector, primarily focusing on contract drilling and production services. The company is engaged in providing drilling rigs and related services in Canada and the United States, with a market focus on enhancing operational efficiency and customer retention.
Average Trading Volume: 1,472
Technical Sentiment Signal: Sell
Current Market Cap: C$73.78M
See more insights into WRG stock on TipRanks’ Stock Analysis page.