ACT Energy Technologies Ltd T.ACX

Alternate Symbol(s): CETEF

Energy Oil & Gas Drilling

ACT Energy Technologies Ltd., formerly Cathedral Energy Services Ltd., is a Canada-based energy company. It is a partner to North American energy companies requiring high-performance directional drilling, measurement while drilling (MWD) and rotary steerable services, as well as in providing remote operations. It operates in Canada and in the United States as Altitude Energy Partners, and in the United States under Discovery Downhole Services and Rime Downhole Technologies. The Altitude Energy Partners specializes in providing solutions for the energy sector. Its directional drilling services includes mud motors, rotary steerable system (RSS), measurement while drilling (MWD), and real-time operations. The Discovery Downhole Services specializes in providing drilling solutions to meet clients' needs. The Rime Downhole Technologies is an engineering company specializing in crafting products for the downhole MWD industry. Its services include rentals, training, maintenance, and repairs.

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ACT Energy Technologies Ltd > CET Q4 ,2020

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Comment by C32BTTon Jun 04, 2021 7:41pm

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Post# 33334957

RE:RE:RE:RE:RE:RE:CET Q4 ,2020

Depends on how you look at it though. They were using more cash than they were generating, so they had no choice unless you want them to take on more debt which isn't prudent at the moment. They issued the shares at the prevailing market price during that time which is supposedly for paying off the debt and reinvesting into more drill motors and mwd equipment. I guess you can take that as a positive sign and the Canadian side of the business is doing well.

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