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Last C$1.80 CAD
Change Today -0.07 / -3.74%
Volume 10.0K
CET On Other Exchanges
Symbol
Exchange
Berlin
OTC US
As of 3:59 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

cathedral energy services lt (CET) Snapshot

Open
C$1.85
Previous Close
C$1.87
Day High
C$1.86
Day Low
C$1.80
52 Week High
09/2/14 - C$4.70
52 Week Low
03/18/15 - C$1.80
Market Cap
65.3M
Average Volume 10 Days
84.9K
EPS TTM
C$-0.32
Shares Outstanding
36.3M
EX-Date
09/28/15
P/E TM
--
Dividend
C$0.16
Dividend Yield
13.61%
Current Stock Chart for CATHEDRAL ENERGY SERVICES LT (CET)

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cathedral energy services lt (CET) Details

Cathedral Energy Services Ltd. provides various oilfield services to oil and natural gas exploration and development entities in western Canada and the United States. The company operates in two divisions, Directional Drilling and Production Testing. It offers horizontal, directional, and underbalanced drilling services; and services through measurement while drilling systems, which are installed in the drill string to provide real time measurements of basic trajectory parameters such as inclination, direction, tool-face, and temperature. The company also provides downhole tools, including performance drilling mud motors, hydraulic mechanical drilling jars, long and short shock tools, string and near bit stabilizers, mud motor stabilizers and offset pads, crossover subs, single shot kits, and slick and flex non-magnetic drill collars, as well as floats, float subs, and protectors; and engineering and well planning services. In addition, it offers completion services for frac stimulation and recovery, propane frac recovery, inlines, absolute open flows, vapor recovery, swabbing operations, production tests, multi-pad wells, drillouts, well clean-ups and work-overs, abandonment operations, and bleed-offs. Further, the company provides production testing services comprising flowbacks after well stimulations; flow tests to determine the size and potential of reservoirs, as well as deliverability of gas wells; and vapor recovery services. Cathedral Energy Services Ltd. is headquartered in Calgary, Canada.

340 Employees
Last Reported Date: 08/14/15

cathedral energy services lt (CET) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$358.7K
Co-Founder, Chief Operating Officer, Executiv...
Total Annual Compensation: C$318.0K
Chief Financial Officer
Total Annual Compensation: C$109.9K
Vice President of Research and Development
Total Annual Compensation: C$256.7K
Vice President of Sales
Total Annual Compensation: C$256.7K
Compensation as of Fiscal Year 2014.

cathedral energy services lt (CET) Key Developments

Cathedral Energy Services Ltd. Announces Consolidated Unaudited Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Capital Spending Guidance for the Year 2015

Cathedral Energy Services Ltd. announced consolidated unaudited financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of $29,679,000 against $56,797,000 a year ago. Loss before taxes was $6,342,000 against earnings before tax of $1,023,000 a year ago. Net loss was $15,266,000 against net earnings of $253,000 a year ago. Net loss per diluted share was $0.42 against net earnings per diluted share of $0.01 a year ago. Loss from operating activities was $6,439,000 against earnings from operating activities of $1,151,000 a year ago. Adjusted LBITDAS was $1,237,000 or $0.03 per diluted share against EBITDAS of $6,151,000 or $0.17 per diluted share a year ago. Negative funds from operations were $853,000 or $0.02 per diluted share against $3,767,000 or $0.10 per diluted share a year ago. Cash flow from operating activities was $497,000 against $11,758,000 a year ago. Property and equipment additions were $1,845,000 against $7,062,000 a year ago. Intangible asset additions were $39,000 against $287,000 a year ago. Decline in revenue was due to reductions in commodity prices and day rate decreases directly related to pricing concessions granted to customers due to market conditions.  For the six months, the company reported revenues of $79,756,000 against $124,817,000 a year ago. Loss before taxes was $7,137,000 against earnings before tax of $2,106,000 a year ago. Net loss was $15,990,000 against net earnings of $2,702,000 a year ago. Net loss per diluted share was $0.44 against $0.07 a year ago. Loss from operating activities was $5,341,000 against earnings from operating activities of $5,120,000 a year ago. Cash flow from operating activities was $22,429,000 against $13,352,000 a year ago. Property and equipment additions were $6,148,000 against $16,979,000 a year ago. Intangible asset additions were $189,000 against $338,000 a year ago. Adjusted EBITDAS was $14,732,000 or $0.13 per diluted share against $13,934,000 or $0.41 per diluted share a year ago. Funds from operations were $3,112,000 or $0.09 per diluted share against $11,887,000 or $0.33 per diluted share a year ago. Net property and equipment additions were $13,779. Net debt was $21,604,000. The company announced that its 2015 capital budget to increase slightly from $7,000 to $7,200 which includes $4,700 of growth capital, $1,700 of maintenance and replacement capital and $800 of infrastructure expenditures.

Cathedral Energy Services Ltd. Approves 2015 Third Quarter Dividend, Payable on October 15, 2015

The Directors of Cathedral Energy Services Ltd. have approved a 2015 third quarter dividend in the amount of $0.04 per share which will have a date of record of September 30, 2015 and a payment date of October 15, 2015.

Cathedral Energy Services Announces Enhancements to its FUSION™ Measurement-While-Drilling Technology Platform

Cathedral Energy Services Ltd. has officially released three product enhancements to its proprietary FUSION™ Measurement-While-Drilling technology platform. The enhancements include superior electromagnetic transmission capabilities, the ability to collect downhole drilling diagnostics and further ruggedizing the FUSION MWD platform to operate in increasingly demanding drilling environments. With these enhancements Cathedral's ElectroMagnetic technology can be relied on by the customers in more formations and drilling environments than competitive technologies. In addition, the enhanced FUSION technology platform will offer customers superior reliability and performance compared to other systems. The capability of the FUSION EM system has been further improved by incorporating higher power levels and enhanced transmission and detection technologies. In addition, two-way (talk down) communication with FUSION EM-G5.0 allows power level changes to be made while drilling to optimize battery consumption and extend tool run times. As a result of these enhancements, FUSION EM-G5.0 now offers a means for the customers to realize the drilling time benefits of EM-MWD technology in a wider range of formations in key basins across North America where traditional EM systems have not been successful (e.g. EagleFord, Montney, Bakken, Lower Mississippian, Permian, Lower Utica). Cathedral's HAWK downhole monitoring system is a recent addition to the FUSION technology platform which records stick-slip, shock and vibration data and transmits this information in real-time to surface.  This information can then be used to alter drilling parameters to reduce excessive bit wear and mitigate downhole equipment damage.  By using the HAWK system, operators are able to optimize rate of penetration while minimizing unnecessary trips and other non-productive time. Utilizing data logged by the HAWK, Cathedral developed specialized mounting systems for gamma ray and directional sensors that can be tuned to greatly reduce the vibration levels experienced downhole.  The result is ruggedized sensors that reduce downhole sensor vibration and shock levels significantly.  With fewer downhole sensor failures, customers will achieve more productive drilling time and the ability to pursue higher rates of penetration when using aggressive bits and drill string vibration tools.

 

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