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Last C$0.33 CAD
Change Today +0.01 / 3.13%
Volume 70.9K
CWC On Other Exchanges
Symbol
Exchange
Venture
OTC US
As of 3:59 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

cwc energy services corp (CWC) Snapshot

Open
C$0.33
Previous Close
C$0.32
Day High
C$0.33
Day Low
C$0.33
52 Week High
05/22/14 - C$1.19
52 Week Low
03/11/15 - C$0.28
Market Cap
93.8M
Average Volume 10 Days
45.2K
EPS TTM
C$0.01
Shares Outstanding
284.3M
EX-Date
03/27/15
P/E TM
33.0x
Dividend
C$0.02
Dividend Yield
17.42%
Current Stock Chart for CWC ENERGY SERVICES CORP (CWC)

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cwc energy services corp (CWC) Details

CWC Energy Services Corp. operates as a contract drilling and well servicing company in the Western Canadian Sedimentary Basin. It operates in two segments, Contract Drilling and Production Services. The company offers a suite of oilfield services, including service rigs, coil tubing, and well testing. It provides rigs that are used for completions, production, workovers, abandonment services, and maintenance on producing oil and gas wells; and coil tubing services for workover operations, shallow drill outs, and extensions into producing zones. The company also provides drilling rigs and related ancillary equipment to oil and gas exploration and production companies. As of April 6, 2015, it operated a fleet of 9 drilling rigs, 73 service rigs, 9 coil tubing units, and 9 pressure tanks. The company was formerly known as CWC Well Services Corp. and changed its name to CWC Energy Services Corp. in May 2014. CWC Energy Services Corp. is headquartered in Calgary, Canada.

cwc energy services corp (CWC) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$279.9K
Vice President of Operations - Well Services ...
Total Annual Compensation: C$214.9K
Vice President of Operations - Well Services ...
Total Annual Compensation: C$194.9K
Compensation as of Fiscal Year 2013.

cwc energy services corp (CWC) Key Developments

CWC Energy Services Corp. Announces Change of Address

CWC Energy Services Corp. announced that effective May 1, 2015, the company has moved its head office to Suite 610, 205 – 5th Avenue SW, Calgary, Alberta T2P 2V7. All phone numbers, fax numbers and email addresses remain the same.

CWC Energy Services Corp. Announces Quarterly Dividend, Payable on or About April 15, 2015

Due to the reduced activity levels, cash flow and earnings expected in 2015, and to preserve CWC Energy Services Corp.'s financial flexibility in this environment, the Company has reduced the quarterly dividend declared from $0.0175 per common share to $0.005 per common share, a decrease of 71%. The dividend will be paid on or about April 15, 2015 to shareholders of record on March 31, 2015. The ex-dividend date is March 27, 2015.

CWC Energy Services Corp. Reports Audited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the Year 2015; Reports Goodwill Impairment for the Fourth Quarter of 2014

CWC Energy Services Corp. reported audited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $46.0 million, a 46% increase from $31.5 million in fourth quarter of 2013. Revenue increase was attributable to the addition of the Contract Drilling segment through the acquisition of Ironhand Drilling Inc. on May 15, 2014. EBITDAS was $13.5 million or $0.05 per basic and diluted share, which was 78% higher than the $7.6 million or $0.05 per basic and diluted share in fourth quarter of 2013. The increase in EBITDAS is due to the addition of the Contract Drilling segment contributing in fourth quarter of 2014 as a result of the acquisition of Ironhand in May 2014 with no corresponding contribution in fourth quarter of 2013. Funds from operations were $13,487,000 compared with $7,598,000 a year ago. Net loss was $15,760,000 or $0.06 per basic and diluted share compared with net income of $2,196,000 or $0.01 per basic and diluted share a year ago. Cash flows from operating activities were $9,425,000 compared with $5,904,000 a year ago. This goodwill impairment charge has resulted in a net loss in fourth quarter of 2014. Record revenue of $143.7 million for the year ended December 31, 2014, $30.4 million (27%) higher than 2013 revenue of $113.3 million. Record EBITDAS for the year ended December 31, 2014 of $34.1 million or $0.15 per basic and diluted, an increase of $7.9 million or $0.17 per basic and diluted (30%) from 2013 due primarily to the addition of the Contract Drilling segment as a result of the acquisition of Ironhand on May 15, 2014. Net loss for the year ended December 31, 2014 was $13.5 million or $0.06 per basic and diluted, a decrease of $18.3 million compared to net income of $4.8 million or $0.03 per basic and diluted in 2013 due primarily to a $20.9 million goodwill impairment charge related to its Contract Drilling segment. Funds from operations were $33,217,000 compared with $26,171,000 a year ago. Cash flows from operating activities were $34,998,000 compared with $25,200,000 a year ago. Net debt was $28,860,000 against $29,502,000 a year ago. In December 2014, the Board of Directors approved a 2015 capital expenditure budget of $14.6 million consisting of $9.1 million of growth capital and $5.5 million of maintenance and infrastructure capital. The growth capital of $9.1 million is primarily directed at completing two new slant service rigs and supporting equipment to expand the company's growth in heavy oil and SAGD wells with delivery expected in first quarter of 2015; upgrading of drilling Rig #2 to expand its capabilities to depths of 4,500 metres with completion expected in third quarter of 2015; and continuing the build of the company's new telescopic double drilling Rig #10 at a slower pace than previously announced with a completion date beyond first quarter of 2015. For the fourth quarter of 2014, the company reported goodwill impairment of $20,880,000.

 

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Valuation CWC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.6x
Price/Book 0.5x
Price/Cash Flow 14.3x
TEV/Sales 0.1x
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