This bottom line figures compares to the drilling contractor’s C$5.5 million net loss for the same period last year.
Quarterly revenue was down 18% from C$34 million to C$28 million, while earnings before interest, tax, depreciation, amortisation, other items and share-based compensation (EBITDAS) fell from C$2 million to negative $2.1 million.
Calmena said the decreases during the period were the result of lower activity in all segments except its MENA rigs, as well as several one-off charges totalling C$2.3
