CWC Energy Services Corp.
CWC.V
Toronto Stock Exchange Ventures0.16
CAD
-0.01
- -
CWC Energy Services Corp.
CWC.V
(Toronto Stock Exchange Ventures)
Recent
price
0.16
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- CWC Energy Services Corp. (TSX-V: CWC) operates as a contract drilling and well servicing company providing oilfield services to exploration and production firms primarily in the Western Canadian Sedimentary Basin and the United States. The company offers contract drilling through its CWC Ironhand Drilling division, which includes 13 electric triple drilling rigs with depth ratings from 3,600 to 7,600 meters and nine telescopic double drilling rigs with depth ratings from 3,200 to 5,000 meters, all equipped with top drives, pad rig moving systems on 17 rigs, high-pressure pumping systems on nine rigs, carbon-reduction bi-fuel capabilities on three rigs, and high line power on two rigs; production services through its CWC Well Services division, featuring a fleet of 138 service rigs comprising 73 single rigs, 52 double rigs, and 13 slant rigs for completions, maintenance, workovers, and well decommissioning with depth ratings from 1,500 to 5,000 meters; and complementary offerings such as swabbing rigs and coil tubing. Founded in 2005 and headquartered in Calgary, Alberta, Canada, at 2910-605 5th Avenue SW, CWC targets oil and gas producers with operations spanning Canada and the U.S. In November 2023, Precision Drilling Corporation completed the acquisition of CWC for approximately $127 million in a mix of Precision shares, cash, and assumed net debt, integrating CWC's fleet to expand Precision's service rigs to 72 active units in Canada and enhance drilling operations across both countries, with expected annual synergies of $20 million and real estate monetization of another $20 million.