- CWC provides drilling and production services in both the US and Canada. They have 22 drilling rigs working of which seven are in Canada and 15 in the US. They have 143 service rigs of which 64 were active in Q2/22.
- Revenues in Q2/22 were up 159% to $42.7M versus $16.5M in Q2/21. EBITDA rose 205% to $7.6M versus $2.5M in Q2/21. These are record Q2 results.
- CWC has 512M shares outstanding and a market capitalization of $108M. Debt was $50M at the end of Q2/22. Brookfield Asset Management is a major shareholder. Insiders are also significant shareholders.
Chief Executive Officer
Duncan is a Fellow of Chartered Professional Accountants, Chartered Financial Analyst, and holds an ICD.D designation with over 32 years of corporate finance and energy services experience. In addition to his role at CWC, Duncan is President & CEO of JAFETICA Capital Inc., a private equity and corporate finance consulting practice that specializes in energy service opportunities. In 2005, Duncan was President & CEO of his own private energy service company, Richmound Energy Services L.P., which was sold to a public company that later became Essential Energy Services Ltd. ("Essential"). From 2006 to 2008, Duncan took on the role of Vice President, Business Development and Chief Financial Officer of Essential and helped build this public company from an enterprise value of zero to $410 million before departing. From 1998 to 2004, Duncan held Vice President & Director positions in corporate finance with both Deloitte and Ernst & Young where he led financings and mergers and acquisitions in the energy services industry. He was a Past Chairman of the Petroleum Services Association of Canada ("PSAC") and served on the Board of Directors of the Canadian Association of Energy Contractors ("CAOEC") as well as on the Board of Governors for the Canadian Energy Executive Association ("CEEA"). He was the Chairman of the 2018 PSAC STARS & Spurs Gala Committee, an industry fundraiser in support of STARS air ambulance. Duncan holds a Bachelor of Commerce degree from the University of Alberta.