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Cathedral Energy Services Ltd CETEF


Primary Symbol: T.CET

Cathedral Energy Services Ltd. is a Canada-based company, which operates in the United States (U.S.) under Discovery Downhole Services, a division of Cathedral Energy Services Inc., Altitude Energy Partners, LLC and Rime Downhole Technologies, LLC. The Company is involved and engaged in the business of providing directional drilling services to oil and natural gas companies in Western Canada and the U.S. Its services include directional drilling, drilling optimization, well planning and automated gamma services (AGS) and remote drilling. Its products include nDURANCE MOTORS, Measurement While Drilling (MWD), FUSION and RapidFire. Its MWD sensors collect data used to determine basic trajectory parameters, such as inclination, direction, and tool-face orientation. Its FUSION family OF MWD tools include FUSION Dual Telemetry (DT), FUSION WPR (Wave Propagation Resistivity), FUSION Gamma Ray (GR) and The Hawk. Its RapidFire family of MWD tools include RapidFire Pulse and RapidFire DT.


TSX:CET - Post by User

Post by C32BTTon May 14, 2022 2:06am
526 Views
Post# 34683597

2022 Q1 Results

2022 Q1 ResultsThe results were better than I thought with revenues in Canada tripling and US side doubling compared to 2021 Q1.  The industry funadamentals looks strong and the company is definitely benefiting, but there is still upside potential with the pricing of their services.  Net income and operating cashflow is up along with equity, so I think the company is definitely heading in the right direction.  Debt is not a big issue especially with the recent equity issuance and the improving operating financials.  They also mentioned getting a handle on their repair costs, which I remember reading a few annual reports back was taking a huge percentage of revenue to fix.  It's great to hear they have that under control because it all flows to the bottom line.  It's too bad the results were overshadowed by what's going on with the market as a whole.
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