RE:AquisitionAgreed, 3 rigs not working in this environment in an area you aren't a leader doesn't strike me as smart or bold. Tough to find labor in USA or Canada for businesses like these.
Why are they not growing their well servicing business in Canada? I used to be out there well testing and have started to hear about the service rig shortage and rates increasing - that industry needs consolidation and I would have thought CWC would be growing that segment. I am watching the other publics like Precicion, Total, Western Ensign and High Arctic, similar story there, seems to be no interest in growing or consolidating the service rigs.
I think all of these companies should see a nice bump in the coming year. I have a position in Total and Precision, was looking at either CWC or High Arctic for service rigs, Western looks too noisy with all thats gone on.