CALGARY - Large Canadian oilfield services companies with operations in the U.S. are now earning more of their revenue south of the border than they are in Canada, according to a study by AltaCorp Capital. Analysts say Canadian oilfield services companies with operations in the U.S. are now earning more of their revenue south of the border than they have for at least six years. ( Larry MacDougal / THE CANADIAN PRESS )The report found that 12 of the largest Canadian energy services companies with U.S. operations earned 54 per cent of their revenue in the U.S. in 2018, up from 46 per cent in 2017. “We see growing U.S. revenue but we also see shrinking Canadian revenue a lot of times because we have Canadian rig activity levels coming down,” said Monachello. The survey includes large Calgary-based drilling companies like Precision Drilling Corp. and Ensign Energy Services Ltd., in addition to well completion firms such as Calfrac Well Services Ltd.

Source: thestar March 25, 2019 15:45 UTC