Western Energy Services Steadies Q2 Revenue

Western Energy Services (TSE:WRG) has released an update.

Western Energy Services Corp. reported its Q2 2024 financial and operating results, showcasing a steady revenue of $43.0 million, mirroring the previous year. Despite the consistent revenue, contract drilling saw a decline, offset by a surge in production services revenue and higher activity in Canada due to improved oil prices. The company also recorded a reduced net loss of $5.1 million compared to $7.8 million in Q2 2023, attributed to increased Adjusted EBITDA and reduced expenses in certain areas.

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