The growth is showing a lot of traction here .. Given the bullish in this sector I could see it continues this year..
Airlines and cruise lines have already double their capacity going this summer.. some excerpts taken on report showing a lot of growth on revenues side ..
Revenue generated in the US during Q4 2021 was $233.8 million, representing a sequential increase of $36.9 million or 18.7% from Q3 2021 and an increase of $96.5 million or 70.4% from the comparative period in 2020. US revenues were positively impacted by increased industry activity and the return toward pre-pandemic production levels, along with a significant increase in bulk product sales in the production chemicals division. US land drilling activity in Q4 2021 has improved by 83.8% from Q4 2020 and by 12.3% on a sequential quarterly basis. For the year ended December 31, 2021, revenue generated in the US increased by 28.8% to $774.1 millionrelative to 2020. CES continues its strong industry positioning, with a US Drilling Fluids Market Share of 17.6% for Q4 2021.
Revenue generated in Canada during Q4 2021 was $134.0 million, representing a sequential increase of $16.5 million or 14.1%, and an increase of $58.4 million or 77.3% from the 2020 comparative period. Canadian revenues benefited from increased rig counts on improvement in land drilling activity of 80.2% as compared to Q4 2020 and by 7.5% on a sequential quarterly basis, as well as from the reversal of temporary production shut-ins. For the year ended December 31, 2021, revenue generated in Canada increased 47.1% to $422.3 million relative to 2020.
Revenue generated in the US during Q4 2021 was $233.8 million, representing a sequential increase of $36.9 million or 18.7% from Q3 2021 and an increase of $96.5 million or 70.4% from the comparative period in 2020. US revenues were positively impacted by increased industry activity and the return toward pre-pandemic production levels, along with a significant increase in bulk product sales in the production chemicals division. US land drilling activity in Q4 2021 has improved by 83.8% from Q4 2020 and by 12.3% on a sequential quarterly basis. For the year ended December 31, 2021, revenue generated in the US increased by 28.8% to $774.1 millionrelative to 2020. CES continues its strong industry positioning, with a US Drilling Fluids Market Share of 17.6% for Q4 2021.
Revenue generated in Canada during Q4 2021 was $134.0 million, representing a sequential increase of $16.5 million or 14.1%, and an increase of $58.4 million or 77.3% from the 2020 comparative period. Canadian revenues benefited from increased rig counts on improvement in land drilling activity of 80.2% as compared to Q4 2020 and by 7.5% on a sequential quarterly basis, as well as from the reversal of temporary production shut-ins. For the year ended December 31, 2021, revenue generated in Canada increased 47.1% to $422.3 million relative to 2020.