Company Overview - Total Energy Services Inc. is headquartered in Calgary, Alberta, and provides contract drilling services, equipment rentals, transportation services, well servicing, and compression and process equipment and service to the energy and other resource industries from operation centers in North America and Australia [4]. Financial Results Announcement - Total Energy will conduct a conference call and webcast following the release of its financial results for the three months ended June 30, 2025 [1]. - The financial results will be released prior to the conference call, which is scheduled for August 6, 2025, at 9:00 a.m. (Mountain Time) [2]. Access to Conference Call - The conference call can be accessed by dialing (833) 752-3851 or (647) 846-8915 [2]. - A live webcast of the conference call will be available on Total Energy's website, and an archived version will be accessible shortly after the live event [3]. Contact Information - For further information, inquiries can be directed to Yuliya Gorbach, Vice-President Finance and Chief Financial Officer, at (403) 216-3920 or via email at investorrelations@totalenergy.ca [5].

Core Points - Total Energy Services Inc. has announced the acquisition of a fleet of surface rental equipment in Oklahoma for U.S. $6.4 million, paid with cash on hand [1] - The acquisition includes approximately 280 pieces of rental equipment and a substantial inventory of ancillary equipment, marking a 30% increase in the Rentals and Transportation Services segment's U.S. fleet [2] - Total Energy provides various services including contract drilling, equipment rentals, transportation services, well servicing, and compression and process equipment to the energy and resource industries [3]

Core Viewpoint - Transocean Ltd. has exercised a two-well option for the Transocean Spitsbergen in Norway, expected to start in Q1 2026, contributing approximately $100 million in backlog [1] Company Overview - Transocean is a leading international provider of offshore contract drilling services, focusing on technically demanding sectors, particularly ultra-deepwater and harsh environment drilling [2] - The company operates the highest specification floating offshore drilling fleet globally, owning or having partial ownership in 32 mobile offshore drilling units, which include 24 ultra-deepwater floaters and eight harsh environment floaters [3]

Core Points - Total Energy Services Inc. held its annual meeting of shareholders on May 13, 2025, with 25,209,233 common shares represented, accounting for 66.3% of the issued and outstanding shares [1] Voting Outcomes - The election of directors was successful for all nominees: - George Chow received 23,566,942 votes (99.6% for) [2] - Glenn Dagenais received 23,434,702 votes (99.1% for) [2] - Daniel Halyk received 23,619,795 votes (99.8% for) [2] - Jessica Kirstine received 23,436,823 votes (99.1% for) [2] - Tim McMillan received 23,605,915 votes (99.8% for) [2] - Ken Mullen received 20,601,943 votes (87.1% for) [2] - The appointment of MNP LLP as auditors was also approved with 25,144,350 votes (99.7% for) [2] Company Overview - Total Energy provides various services including contract drilling, equipment rentals, transportation services, well servicing, and compression and process equipment to the energy and resource industries, operating in North America and Australia [2]

CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) -- Total Energy Services Inc. (“Total Energy” or the “Company”) (TSX:TOT) announces its consolidated financial results for the three months ended March 31, 2025. Financial Highlights ($000’s except per share data, unaudited) Three months endedMarch 31 20252024ChangeRevenue$251,909 $204,686 23%Operating income 26,063 <td style="text-align: right ; vertical-align: middle; vertical-align: bottom ; ...

Core Viewpoint - Transocean Ltd. reported a net loss of $79 million for Q1 2025, reflecting challenges in contract drilling revenues and increased operating expenses, while maintaining a backlog of $7.9 billion [2][3][8]. Financial Performance - Contract drilling revenues for Q1 2025 were $906 million, a decrease of $46 million from the previous quarter and an increase of $143 million year-over-year [3][21]. - Revenue efficiency improved to 95.5% in Q1 2025 from 93.5% in Q4 2024, indicating better revenue generation relative to maximum potential [3][28]. - Operating and maintenance expenses rose to $618 million in Q1 2025, up from $579 million in Q4 2024, primarily due to legal costs and increased shipyard expenses [4][21]. - Adjusted EBITDA for Q1 2025 was $244 million, with an adjusted EBITDA margin of 26.9%, down from 33.9% in the previous quarter [8][37]. Earnings and Losses - The net income attributable to controlling interest was a loss of $79 million, translating to a diluted loss per share of $0.11 [2][21]. - Adjusted net loss for Q1 2025 was $65 million, or a loss of $0.10 per diluted share, after accounting for unfavorable discrete tax items [2][33]. Cash Flow and Capital Expenditures - Cash provided by operating activities was $26 million, a decrease of $180 million compared to the prior quarter, largely due to reduced customer collections [7][43]. - Capital expenditures increased to $60 million in Q1 2025 from $29 million in Q4 2024, focusing on upgrades for certain rigs [8][43]. Balance Sheet and Debt Management - The company repaid $210 million in outstanding debt during the quarter, improving its balance sheet despite ongoing market volatility [8][43]. - Total assets as of March 31, 2025, were $19.019 billion, down from $19.371 billion at the end of 2024 [24][25]. Fleet and Operational Statistics - Transocean operates a fleet of 34 mobile offshore drilling units, with a focus on ultra-deepwater and harsh environment drilling [11][12]. - The average daily revenue for ultra-deepwater floaters was $443,600 in Q1 2025, while for harsh environment floaters it was $443,600, reflecting a slight decrease from the previous quarter [28][29].

Financial Performance - Patterson-UTI reported break-even quarterly earnings per share, compared to a Zacks Consensus Estimate of a loss of $0.04, and earnings of $0.15 per share a year ago, indicating an earnings surprise of 100% [1] - The company posted revenues of $1.28 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 7.67%, but down from $1.51 billion year-over-year [2] - Over the last four quarters, Patterson-UTI has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [2] Stock Performance - Patterson-UTI shares have lost about 28.8% since the beginning of the year, while the S&P 500 has declined by 10.1% [3] - The current consensus EPS estimate for the coming quarter is -$0.03 on $1.23 billion in revenues, and -$0.09 on $4.83 billion in revenues for the current fiscal year [7] Industry Outlook - The Oil and Gas - Drilling industry, to which Patterson-UTI belongs, is currently in the bottom 14% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Patterson-UTI's stock performance [5][6] Future Expectations - The estimate revisions trend for Patterson-UTI is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6] - The upcoming earnings call will be crucial for understanding management's commentary on future earnings expectations [3][4] Competitor Insights - Noble Corporation PLC, another company in the same industry, is expected to report quarterly earnings of $0.31 per share, reflecting a year-over-year change of -31.1%, with revenues expected to be $853.91 million, up 34% from the year-ago quarter [9][10]