CWC Energy Services Corp.
CAWLF
Other OTC0.13
USD
+0.00
- -
Return %
Stock
S&P500
1Y
-39.03
26.53
3Y
20.19
76.60
5Y
43.41
80.11
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Duncan T. Au CA, CPA, FCPA
- Full Time Employees
- 665
- Sector
- Energy
- Industry
- Oil & Gas Equipment & Services
- Address
- 605 – 5th Avenue SW Calgary AB Canada T2P 3H5
- IPO Date
- Jun 20, 2014
- Website
- cwcenergyservices.com
- Similar Companies
- Business
- CWC Energy Services Corp. operates as a contract drilling and well servicing company primarily serving the oil and gas industry in Canada and the United States. The company provides a comprehensive range of oilfield services, including drilling rig rentals; well servicing encompassing completions, maintenance, workovers, and well decommissioning; coil tubing; well testing; and snubbing services. Its fleet includes service rigs with depth capabilities ranging from 1,500 to 5,000 meters, consisting of single, double, and slant rigs, alongside high-specification triple drilling rigs. CWC supports conventional and unconventional reservoirs and increasingly participates in emerging energy segments such as lithium brine, carbon capture, helium, and salt water disposal wells, demonstrating versatility in adapting to evolving energy markets. Founded over 30 years ago, the company is headquartered in Calgary, Alberta, Canada. In terms of recent developments, CWC Energy Services Corp. completed a strategic acquisition by Precision Drilling Corporation in November 2023. This arrangement involved Precision acquiring all issued and outstanding common shares of CWC, with the total transaction valued around CAD 127 million, including cash, shares, and the assumption of net debt. The acquisition expands Precision's drilling and well servicing fleet substantially, adding 62 marketed servicing rigs and multiple high-spec triple rigs across Canada and the U.S., enhancing operational scale and capabilities geographically. Precision projects approximately CAD 20 million in annual operational synergies from integration and plans to monetize CAD 20 million in surplus real estate formerly owned by CWC. The deal positions Precision as a leading well service provider in Canada while strengthening drilling operations in North America. This acquisition marks a significant strategic shift and operational expansion for CWC under the Precision umbrella. CWC targets exploration and development companies in the oil and gas sector across Western Canada and the United States, leveraging its advanced safety-oriented technologies and experienced personnel to deliver state-of-the-art, cost-efficient services. The company also operates a U.S. subsidiary, CWC Energy Services (USA) Corp., established to support the firm's U.S. operations with dedicated assets including high-spec triple drilling rigs. CWC’s offerings are critical for completing newly drilled wells and maintaining existing well production, addressing both conventional drilling demands and transitioning energy plays. Recent operational growth includes the acquisition of ten high-spec triple drilling rigs to bolster its U.S. presence, reinforcing the company's growth strategy through asset expansion and service diversification. Overall, CWC Energy Services Corp. is a well-established, comprehensive oilfield services provider with a diversified product portfolio covering drilling and well servicing solutions across two key North American regions. Its recent integration into Precision Drilling Corporation represents a major operational and strategic development, enhancing its market reach, fleet capacity, and service offerings within the energy services industry.