RE:Overall none too shabbyToo early to be smart here but cash flow growth, up 95% more, than offsets the
interest expense increased by 22 percent for the year ended December 31, 2022 , compared with the same period in 2021. The increase is the result of higher overall borrowing and higher interest rates. The negative translational impact on USD denominated debt further increased interest expense for the year ended December 31, 2022 . The Company is exposed to a floating interest rate on the Credit Facility and this rate has increased year over year. For the three months ended December 31, 2022 , interest expense increased 36 percent to $34.1 million compared with the fourth quarter of 2021 due to the same reasons discussed above.
Hope they copy Precision Drilling and begin to become agressive on the debt.