Last $0.0050 USD
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As of 8:10 PM 12/1/14 All times are local (Market data is delayed by at least 15 minutes).

calmena energy services inc (BLKWF) Snapshot

Open
$0.0050
Previous Close
$0.0050
Day High
$0.0050
Day Low
$0.0050
52 Week High
04/3/14 - $0.05
52 Week Low
12/1/14 - $0.0050
Market Cap
1.5M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
301.5M
EX-Date
--
P/E TM
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Dividend
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Dividend Yield
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Current Stock Chart for CALMENA ENERGY SERVICES INC (BLKWF)

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calmena energy services inc (BLKWF) Details

Calmena Energy Services Inc., a diversified energy services company, provides well construction services for the exploration and development of oil and gas reserves in Canada, the United States, Latin America, the Middle East, and North Africa. The company’s services include directional drilling and frac fluids management services; and a range of services focused on the supply, storage, handling, treatment, and disposal of various oilfield fluid products. It is also involved in the rental of equipment, including rig mats, swamp matting, flare tanks, storage tanks, premix tanks, shale bins, flock tanks, invert systems, pickers, cranes, and other equipment. The company was formerly known as BlackWatch Energy Services Corp. and changed its name to Calmena Energy Services Inc. in June 2010. Calmena Energy Services Inc. was founded in 2006 and is headquartered in Calgary, Canada.

387 Employees
Last Reported Date: 03/31/14
Founded in 2006

calmena energy services inc (BLKWF) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$250.0K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$236.3K
Senior Vice President of Canada
Total Annual Compensation: C$220.0K
Senior Vice President of Middle East & North ...
Total Annual Compensation: C$184.4K
Compensation as of Fiscal Year 2013.

calmena energy services inc (BLKWF) Key Developments

Calmena Energy Services Inc. Announces Borrowing Update

Calmena Energy Services Inc. announced an update on the status of its senior credit facilities. On October 29, 2013 Calmena and its senior lender entered into an agreement whereby the Senior Lender agreed to forbear from demanding payment or enforcing security with respect to amounts owing by Calmena under its Credit Facilities with the Senior Lender on certain terms. Calmena and the Senior Lender subsequently entered into extension agreements pursuant to which the Senior Lender agreed to continue to forbear from demanding payment or enforcing its security under the Credit Facilities until November 30, 2014. Calmena and the Senior Lender have agreed to an extension of the Deadline to December 15, 2014 to enable continued discussions with respect to a potential further extension of the Deadline.

Calmena Energy Services Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014

Calmena Energy Services Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of CAD 11,134,000 compared to CAD 8,649,000 a year ago. EBITDAS CAD 383,000 compared to LBITDAS of CAD 5,223,000 a year ago. Net loss from continued operations was CAD 8,293,000 compared to CAD 6,459,000 a year ago. Net loss was CAD 8,340,000 or CAD 0.03 per basic and diluted share compared to CAD 6,444,000 or CAD 0.02 per basic and diluted share a year ago. Funds flow from operations were CAD 570,000 or CAD 0.00 per basic and diluted share compared to funds outflow from operations of CAD 4,167,000 or CAD 0.01 per basic and diluted share a year ago. For the nine months, the company reported revenue of CAD 34,421,000 compared to CAD 52,968,000 a year ago. The main drivers of the decrease the continued slowdown in industry drilling in Mexico initiated during the second quarter of 2013 which resulted in the termination of drilling contracts; the closing of contract drilling operations in Brazil and Colombia, the closing of the directional services business in Colombia and Mexico in 2014 and the sale of Calmena's Canadian assets in 2014 and 2013. These decreases were offset in part by increased revenue in US directional services. LBITDAS CAD 1,906,000 compared to CAD 7,866,000 a year ago. Net loss from continued operations was CAD 32,061,000 compared to CAD 45,209,000 a year ago. Net loss was CAD 33,056,000 or CAD 0.11 per basic and diluted share compared to CAD 42,644,000 or CAD 0.15 per basic and diluted share a year ago. Funds outflow from operations were CAD 340,000 or CAD 0.00 per basic and diluted share compared to funds outflow from operations of CAD 2,814,000 or CAD 0.01 per basic and diluted share a year ago. Net debt as at September 30, 2014 was CAD 28.7 million. The company expects that fourth quarter results will reflect significantly lower revenue and operating days, the effect of rebuilding efforts should become evident at the beginning of 2015.

Calmena Energy Services Announces an Update on the Status of its Senior Credit Facilities

Calmena Energy Services Inc. announced an update on the status of its senior credit facilities. As previously announced, Calmena and its senior lender entered into an agreement on October 29, 2013 and subsequent extension agreements pursuant to which the Senior Lender agreed on certain terms to forbear from demanding payment or enforcing its security under the Credit Facilities until August 31, 2014. Calmena and the Senior Lender have now agreed to a further extension of the Deadline to November 30, 2014 in order to enable Calmena to continue actively marketing certain of its assets for sale.

 

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