Friday, February 28, 2014

Western Energy Services Corp. - WRG.t

Western Energy Services Corp. - WRG.t is an oilfield service company which provides contract drilling services through Horizon Drilling in Canada and Stoneham Drilling Corporation in the United States.

The company also provides well servicing through Eagle Well Servicing and provides rental services through Aero Rental Services in Canada.

On February 27, 2014 the company reported Numbers

"Western Energy Services Corp. (“Western” or the “Company”) (TSX: WRG) is pleased to release its fourth quarter and year end 2013 financial and operating results. Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis as at and for the years ended December 31, 2013 and 2012 will be available on SEDAR at All amounts are denominated in Canadian dollars (CDN$) unless otherwise identified.

Fourth Quarter 2013 Highlights:

• Operating Revenue totalled $119.8 million, a $43.4 million increase (or 57%) over the same period in the prior year due to the increased size and scale of Western’s production services segment following the acquisition of IROC Energy Services Corp. (“IROC”) on April 22, 2013, as well as higher utilization in the contract drilling segment in both Canada and the United States, coupled with a larger average drilling rig fleet in Canada. These increases were partially offset by decreased day rates in the United States, while day rates in Canada recovered in the fourth quarter of 2013 to remain unchanged, averaging approximately $28,900 in both the fourth quarters of 2013 and 2012;

• Utilization in the Canadian contract drilling segment improved to 65% as compared to 55% in the same period of 2012 and the CAODC industry average of 43%. In the United States, contract drilling utilization increased to 87% as compared to 62% in the same period of the prior year due to increased marketing efforts, the addition of the Company’s first 1,500 hp AC ELR triple pad rig conversion to the United States fleet, and strong operational performance;




Monday, February 24, 2014

Newalta Corporation - NAL.t

Newalta Corporation - NAL.t provides cost-effective solutions to industrial customers to improve their environmental performance with a focus on recycling and recovery of products from industrial residues.

The company is based in Calgary, Alberta and provides services through a network of facilities and customer locations.

On February 19, 2014 the company released News

"Newalta Corporation ("Newalta") (TSX:NAL) today reported results for the three months and year ended December 31, 2013. "
"Our start to the year was weak, weighed down by reduced market demand and lower prices for our products, however, performance improved as the year progressed," said Al Cadotte, President and CEO of Newalta. "In the final three quarters of 2013, before non-recurring items Adjusted EBITDA grew by 20 percent over the prior year. The last three quarters are indicative of the results we expect from our business plan.

"In the fourth quarter, improved performance across all of our operations was offset by non-recurring charges of about $4.5 million. For the year, Adjusted EBITDA excluding non-recurring charges, was $156.0 million, up 10 percent compared to 2012.




Thursday, February 20, 2014

Evidence of Viking 'Sunstone' Found

In March 2013 it was reported that a Viking Sunstone had been found.
Ancient lore has suggested that the Vikings used special crystals to find their way under less-than-sunny skies. Though none of these so-called "sunstones" have ever been found at Viking archaeological sites, a crystal uncovered in a British shipwreck could help prove they did indeed exist.

The crystal was found amongst the wreckage of the Alderney, an Elizabethan warship that sank near the Channel Islands in 1592. The stone was discovered less than 3 feet (1 meter) from a pair of navigation dividers, suggesting it may have been kept with the ship's other navigational tools, according to the research team headed by scientists at the University of Rennes in France.
A chemical analysis confirmed that the stone was Icelandic Spar, or calcite crystal, believed to be the Vikings' mineral of choice for their fabled sunstones, first mentioned in the 13th-century Viking saga of Saint Olaf.

Today, the Alderney crystal would be useless for navigation, because it has been abraded by sand and clouded by magnesium salts. But in better days, such a stone would have bent light in a helpful way for seafarers.
Because of the rhombohedral shape of calcite crystals, they refract or polarize light in such a way to create a double image. This means that if you were to look at someone's face through a clear chunk of Icelandic spar, you would see two faces. But if the crystal is held in just the right position, the double image becomes a single image and you know the crystal is pointing east-west.

The study’s authors say the crystal could be used to determine the sun's location with an accuracy of one degree, even when it was invisible to the naked eye.

CanElson Drilling Inc. - CDI.t

CanElson Drilling Inc. - CDI.t is a leading provider of oilfield services.

Founded in 2008, CanElson is engaged in the manufacture and operation of drilling rigs in Canada’s Western Sedimentary Basin, the Permian Basin, North Dakota and the Ebano-Panuco-Cacalilao field near Tampico, Mexico.

On February 18, 2014 the company released News

"CanElson Drilling Inc. ("CanElson") (TSX:CDI) announced today that it has acquired Highkelly Drilling Ltd. ("Highkelly"), a private Canadian drilling company, that owns and operates two new AC electric triple drilling rigs in the Montney liquids rich natural gas resource play of northeast British Columbia (the "Acquisition"). CanElson has also agreed to construct a third new AC electric triple rig to be completed and delivered in Q3 2014. Separately, CanElson has renewed its syndicated credit facilities with extended terms and the potential for increased borrowing.

"This strategic acquisition accelerates CanElson's entry into the triple rig market and provides us with new state of the art efficient rigs, high quality experienced personnel and an immediate foothold with an active LNG customer in one of the most prolific liquids rich natural gas drilling regions in North America," said Randy Hawkings, CanElson's President and CEO. "Not only is the transaction accretive, but with our renewed credit facility, our recently completed equity financings and our strong balance sheet we remain well positioned for further growth opportunities with other LNG players and in plays requiring deeper rigs."