Business
WESTERN ENERGY SERVICES CORP. RELEASES THIRD QUARTER 2010 FINANCIAL AND OPERATING RESULTS
WESTERN ENERGY SERVICES CORP. RELEASES THIRD QUARTER 2010 FINANCIAL AND OPERATING RESULTS
About this update from Western Energy Services Corp.
[{"type":"text","content":"\n\n\n\n Nov. 18, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Nov. 18 /CNW/ - Western Energy Services Corp. ("Western" or the\n "Company") (TSX Venture: WRG) is pleased to release its third quarter\n 2010 financial and operating results.  Additional information relating\n to the Company, including the Company's financial statements and\n management's discussion and analysis for the three and nine months\n ended September 30, 2010 will be available on SEDAR at www.sedar.com.\n\n\nHighlights:\n\n\n\nRevenue in Q3 totalled $19.3 million, a $5.9 million increase (44%) over\n Q2;\n\n\nEBITDA in Q3 totalled $5.4 million (28% of revenue) resulting from our\n focused business strategy concentrating on customers operating in the\n resource plays in Canada;\n\n\nUtilization in the contract drilling subsidiary Horizon Drilling Inc.\n ("Horizon") averaged 61% in Q3 as compared to an industry average of\n 40%;\n\n\nThe number of jobs completed in the production services subsidiary\n StimSol Canada Inc. ("Stimsol") in Q3 increased by 71% to 509 as\n compared to the same period of the prior year.;\n\n\nThe Impact Drilling Ltd. ("Impact") acquisition closed on August 25,\n 2010 and has been successfully integrated;\n\n\nOn October 18, 2010, Western and Pantera Drilling Income Trust\n ("Pantera") entered into an ...