Service & Supply | Quarterly / Earnings Reports | Oilfield Services
U.S. Market Hampers Calfrac's Domestic Profits
Print
|
Calfrac Well Services Ltd. reported that first-quarter results in the United States were positively impacted by rightsizing efforts implemented in the fourth quarter of last year and the early part of 2013.
This rationalization process combined with higher equipment utilization and enhancements in the Company's supply chain and logistical capabilities contributed significantly to its improved financial performance.
Calfrac's U.S. operating cost structure has been realigned with its current activity base and will be closely monitored for any future changes in market conditions. Many of Calfrac's customers increased their activity from very low levels in the fourth quarter, particularly after late November. Some of this increase was related to wells that had been drilled in 2012 but were…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations