Winnipeg Free Press By: The Canadian Press Save to Read Later
CALGARY - Trican Well Service Ltd. is reporting positive first-quarter earnings as a modest rise in oilfield activity allowed revenue to recover from the previous quarter but not to the level it reached in the first three month of 2020.
The Trican Well Service Ltd. logo is seen in this undated handout photo.THE CANADIAN PRESS/HO, Trican Well Service Ltd. MANDATORY CREDIT
CALGARY - Trican Well Service Ltd. is reporting positive first-quarter earnings as a modest rise in oilfield activity allowed revenue to recover from the previous quarter but not to the level it reached in the first three month of 2020.
Trican Well Service posts positive profit on modest oilfield activity rebound
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CALGARY – Trican Well Service Ltd. is reporting positive first-quarter earnings as a modest rise in oilfield activity allowed revenue to recover from the previous quarter but not to the level it reached in the first three month of 2020.
The Calgary-based well completion company says it had net income of $5.9 million on revenue of $148 million in the three months ended March 31, compared with a loss of $155 million on revenue of $192 million in the year earlier period (when it recognized $157 million of asset impairments and one-time expenses from market events).