CALGARY, AB, June 13, 2022 /CNW/ – Western Energy Services Corp. (the “Company” or “Western“) (TSX: WRG) is pleased to announce that Western is the first drilling and well servicing contractor to become Climate Smart certified by the emissions reduction evaluation firm Radicle Group Inc. As part of Western’s journey through Radicle’s Climate Smart intensive greenhouse gas (“GHG”) inventory training and certification process, the Company has taken on the challenge of documenting, reporting, and creating an action plan to reduce our climate footprint.

The data was compiled and reported in compliance with the Greenhouse Gas Protocol, a globally recognized … Continue Reading

CALGARY, AB, May 27, 2022 /CNW/ – On May 18, 2022, MATCO Investments Ltd. (“MATCO“) acquired beneficial ownership and control of 392,439,525 common shares (“Common Shares“) in the capital of Western Energy Services Corp. (“Western” or the “Corporation“) pursuant to a rights offering to its shareholders (the “Rights Offering“). MATCO exercised 18,296,504 rights which allowed MATCO to purchase 21.4488803374 Common Shares at a price of $0.016 per Common Share until 5:00 p.m. (Toronto time) on May 13, 2022 (the “Basic Subscription Privilege“).  Ronald P. Mathison (“Mathison“) is the President, Chief Executive Officer and sole shareholder of MATCO … Continue Reading

CALGARY, AB, May 18, 2022 /CNW/ – On May 18, 2022, MATCO Investments Ltd. (“MATCO“) acquired beneficial ownership and control of 392,439,525 common shares (“Common Shares“) in the capital of Western Energy Services Corp. (“Western” or the “Corporation“) pursuant to a rights offering to its shareholders (the “Rights Offering“). MATCO exercised 18,296,504 rights which allowed MATCO to purchase 21.4488803374 Common Shares at a price of $0.016 per Common Share until 5:00 p.m. (Toronto time) on May 13, 2022 (the “Basic Subscription Privilege“).  Ronald P. Mathison (“Mathison“) is the President, Chief Executive Officer and sole shareholder of MATCO and … Continue Reading

CALGARY, AB, May 5, 2022 /CNW/ – Western Energy Services Corp. (“Western” or the “Company”) (TSX: WRG) announces the release of its first quarter 2022 financial and operating results. Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis as at March 31, 2022 and for the three months ended March 31, 2022 and 2021 will be available on SEDAR at www.sedar.com. Non-International Financial Reporting Standards (“Non-IFRS”) measures and ratios, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenue, as well as abbreviations and definitions for standard industry terms … Continue Reading

CALGARY, AB, April 21, 2022 /CNW/ –  Western Energy Services Corp. (“Western”) (TSX: WRG) announces that it intends to release its 2022 first quarter financial and operating results after market close on Thursday, May 5, 2022.

About Western

Western is an oilfield service company which provides contract drilling services in Canada through its division, Horizon Drilling in Canada, and its wholly owned subsidiary, Stoneham Drilling Corporation in the United States.  Additionally, Western provides production services in Canada through its division, Eagle Well Servicing which provides well servicing, and its division Aero Rental Services which provides oilfield rental … Continue Reading

CALGARY, AB, April 12, 2022 /CNW/ – Western Energy Services Corp. (the “Company” or “Western“) (TSX: WRG) announces that it has filed with the securities regulatory authorities in all the provinces of Canada and obtained a receipt for a final short form prospectus (the “Final Prospectus“) with respect to the previously announced rights offering to its shareholders to raise $31.5 million (the “Rights Offering“). The Company has also concurrently filed an amendment to its registration statement on Form F-7/A with the United States Securities and Exchange Commission in the United States relating to the Rights Offering.

Pursuant to the … Continue Reading

CALGARY, AB, March 30, 2022 /CNW/ – Western Energy Services Corp. (the “Company” or “Western“) (TSX: WRG) announces that it has filed a preliminary short form prospectus (the “Preliminary Prospectus“) with the securities regulatory authorities in all the provinces of Canada with respect to a proposed rights offering to its shareholders to raise $31.5 million (the “Rights Offering“). The Company has also concurrently filed a registration statement on Form F-7 with the United States Securities and Exchange Commission in the United States relating to the Rights Offering.

As described in the Company’s press release dated March 22, 2022, … Continue Reading

CALGARY, AB, March 24, 2022 /CNW/ – Western Energy Services Corp. (“Western” or the “Company”) (TSX: WRG) announces the release of its fourth quarter and year end 2021 financial and operating results.  Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis (“MD&A”) as at and for the year ended December 31, 2021 and 2020 will be available on SEDAR at www.sedar.com.  Non-International Financial Reporting Standards (“Non-IFRS”) measures and ratios, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenue, as well as abbreviations and definitions for standard industry terms … Continue Reading

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

Resulting in reduced debt, extension of maturity of credit facilities and new capital

CALGARY, AB, March 22, 2022 /CNW/ – Western Energy Services Corp. (the “Company” or “Western“) (TSX: WRG) announces that, following an extensive review process by its board of directors (the “Board“), it has entered into agreements to effect a comprehensive recapitalization to restructure a portion of its outstanding debt and raise new capital (collectively, the “Restructuring Transaction“). The Restructuring Transaction will provide the Company with an improved capital structure and extends … Continue Reading

CALGARY, AB, Feb. 28, 2022 /CNW/ – Western Energy Services Corp. (“Western“) (TSX: WRG) announces that Alberta Investment Management Corporation (“AIMCo“), the lender under its second lien credit facility, has agreed to provide Western with a further extension of the due date for the payment of interest under the facility that was originally due on January 4, 2022 and that was extended by AIMCo to February 28, 2022.  The due date has been extended further to March 21, 2022.

Western is continuing discussions with its lenders with respect to a potential transaction to provide financial stability through … Continue Reading

CALGARY, AB, Dec. 30, 2021 /CNW/ – Western Energy Services Corp. (“Western“) (TSX: WRG) announces that Alberta Investment Management Corporation (“AIMCo“), the lender under its second lien credit facility, has agreed to extend the due date for the payment of interest under the facility that Western would have been required to pay on January 4, 2022 to February 28, 2022.

Western is currently in discussions with its lenders with respect to potential transactions to provide long–term financial stability through the current challenging industry environment.  The payment extension is intended to provide Western with additional flexibility while it explores … Continue Reading

CALGARY, AB, Oct. 25, 2021 /CNW/ – Western Energy Services Corp. (“Western” or the “Company”) (TSX: WRG) announces the release of its third quarter 2021 financial and operating results.  Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis (“MD&A”) as at and for the three and nine months ended September 30, 2021 and 2020 will be available on SEDAR at www.sedar.com.  Non-International Financial Reporting Standards (“Non-IFRS”) measures, such as Adjusted EBITDA, and abbreviations and definitions for standard industry terms are defined later in this press release.  All amounts are denominated in … Continue Reading