Drilling & Completions | Service & Supply | Quarterly / Earnings Reports | Oilfield Services
Calfrac's Canadian Ops Deliver Strongest Results
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Calfrac Well Services Ltd. experienced a relatively slow start to the first quarter of 2013 as the pace of drilling activity in western Canada did not increase until late 2012.
The lag between the commencement of drilling operations and completion activity resulted in lower activity for most of January. As the drilling of these wells was completed, activity increased significantly in late January and early February and this momentum continued throughout the remainder of the quarter. Calfrac's strong activity in the first quarter was due, in part, to colder weather persisting throughout most of western Canada until late March. As a result, revenue from the Company's Canadian operations was 15 percent higher on a sequential basis despite strong activity in the fourth quarter.
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