Western Energy Services (WRG) AI Stock Analysis

• Market Cap: C$98.14M
• Dividend Yield: N/A
• Average Volume (3M): 989.00
• Price to Earnings (P/E): ―
• Beta (1Y): -0.46
• Revenue Growth: -0.38%
• EPS Growth: 6.98%
• Country: CA
• Employees: 615
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Drilling
• EPS (TTM): -0.63
• Shares Outstanding: 33,843,020
• 10 Day Avg. Volume: 1,388
• 30 Day Avg. Volume: 989
• PEG Ratio: -0.01
• Price to Book (P/B): 0.27
• Price to Sales (P/S): 0.33
• P/FCF Ratio: 6.85
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.01
• Revenue Forecast (FY): C$209.50M

• Rating: 55 Neutral
• Price Target: C$3.00 ▲(43.54% Upside)
• Action: Reiterated Date: 03/18/26
• Date: Action: Reiterated 03/18/26

The score is held back primarily by weak financial performance (recent revenue contraction and continued net losses) and an unfavorable earnings-based valuation (negative P/E). These are partially offset by a solid technical backdrop (price above key moving averages with positive MACD) and supportive operating cash flow with manageable leverage.

Positive Factors

Improved Leverage

Leverage reduction to ~0.34–0.39 from >1x materially improves financial flexibility. Lower debt burden reduces refinancing and covenant risk, supports working capital and maintenance spending during downturns, and permits selective reinvestment without immediate equity raises.

Negative Factors

Choppy Revenue Trend

Declines in revenue in 2024 followed by a sharp drop in 2025 reduce scale and directly depress rig utilization, the core revenue driver. Prolonged top-line weakness undermines pricing leverage, limits margin recovery, and raises the risk of longer-term structural underutilization.

Western Energy Services Business Overview & Revenue Model

Company Description

Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. It operates through Contract Drilling and Production Services segments. The Contract Drilling segment provides contract drilling services using ...

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Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. It operates through Contract Drilling and Production Services segments. The Contract Drilling segment provides contract drilling services using ...

How the Company Makes Money

Western Energy Services makes money primarily by contracting out its drilling rigs and crews to exploration and production companies. Revenue is generated through (1) contract drilling fees under day-rate or term-style drilling contracts, where cu...

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Western Energy Services makes money primarily by contracting out its drilling rigs and crews to exploration and production companies. Revenue is generated through (1) contract drilling fees under day-rate or term-style drilling contracts, where cu...

Western Energy Services Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	217.50M	223.08M	233.45M	200.34M	131.68M
Gross Profit	23.33M	182.03M	21.82M	160.25M	89.65M
EBITDA	49.27M	42.65M	45.34M	37.94M	22.43M
Net Income	-26.00M	-7.16M	-7.21M	29.00M	-35.81M
Balance Sheet
Total Assets	378.65M	430.98M	442.93M	475.71M	456.00M
Cash, Cash Equivalents and Short-Term Investments	2.66M	3.79M	6.25M	8.88M	7.48M
Total Debt	95.02M	98.75M	115.22M	131.69M	240.42M
Total Liabilities	113.20M	135.13M	147.27M	173.18M	269.50M
Stockholders Equity	263.19M	293.62M	293.37M	300.59M	184.51M
Cash Flow
Free Cash Flow	10.32M	25.19M	28.73M	-5.69M	9.77M
Operating Cash Flow	32.00M	46.80M	51.35M	28.54M	16.63M
Investing Cash Flow	-19.25M	-21.91M	-25.45M	-28.95M	-5.69M
Financing Cash Flow	-13.88M	-27.03M	-28.85M	1.44M	-22.79M

Western Energy Services Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WRG, the sentiment is Positive. The current price of 2.09 is below the 20-day moving average (MA) of 3.09, below the 50-day MA of 2.77, and below the 200-day MA of 2.28, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 45.95 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:WRG.

Western Energy Services Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCW	76 Outperform	C$1.52B	10.23	19.03%	3.57%	9.24%	6.35%
CFW	71 Outperform	C$630.19M	12.37	3.06%	―	-8.13%	-28.00%
PHX	69 Neutral	C$549.44M	6.22	24.11%	10.44%	8.98%	-27.41%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
PD	63 Neutral	C$1.67B	712.96	0.11%	―	-5.55%	-74.96%
ESI	56 Neutral	C$663.27M	-12.07	-2.94%	―	-2.47%	-246.73%
WRG	55 Neutral	C$98.14M	-2.72	-2.38%	―	-0.38%	6.98%

Western Energy Services Corporate Events