Maswera sei uye tinokugamuchirai kuCalfrac Well Services Ltd. First Quarter 2022 Earnings Release uye Conference Call.Musangano wanhasi uri kurekodhwa.
Panguva ino, ndinoda kuisa musangano kuna Chief Financial Officer Mike Olinek. Ndapota enderera, changamire.
Ndatenda. Mangwanani uye tinokugamuchirai kunhaurirano yedu yemigumisiro yekota yekutanga yeCalfrac Well Services ye2022. Vabatana neni pakufona nhasi ndiMutungamiriri wenguva pfupi weCalfrac George Armoyan uye Mutungamiriri weCalfrac uye COO Lindsay Link.
Kudanwa kwemusangano wemangwanani ano kuchaenderera sezvizvi: George achaita mamwe mashoko okuzarura, uye ipapo ndichapfupikisa zvemari nemashandiro ekambani.George achabva apa Calfrac's business view uye mamwe mashoko ekuvhara.
Muhurukuro yakabudiswa kare nhasi, Calfrac yakashuma mhinduro yayo isina kuongororwa yekota yekutanga 2022. Ndapota cherechedza kuti nhamba dzose dzemari dziri muCanada madhora kunze kwekunge zvataurwa.
Zvimwe zvemashoko edu nhasi zvichange zvichireva zviyero zvisiri zveIFRS zvakadai seAdjusted EBITDA uye Operating Income.Kuwedzera kuziviswa pamusoro pezviyero izvi zvemari, tapota ona kubudiswa kwepepanhau redu.Maonero edu nhasi achabatanidza zvinyorwa zvinotarisa mberi maererano nemigumisiro yenguva yemberi yeCalfrac uye tarisiro.
Ndokumbira utarise kuburitswa kwenhau yemangwanani uye mafirita eCalfrac's SEDAR, kusanganisira yedu 2021 Annual Report, kuti uwane rumwe ruzivo nezve zvirevo zvekumberi uye izvi zvine njodzi.
Pakupedzisira, sezvatakataura muhurukuro yedu yekubudiswa, maererano nezviitiko muUkraine, kambani yakarega kushanda muRussia, yakazvipira kune chirongwa chekutengesa zvinhu izvi, uye yakasarudzwa mabasa muRussia kutengeswa.
Waita, Mike, mangwanani, uye ndinokutendai mose nekujoinha runhare rwemusangano wedu nhasi.Sezvamungangoziva, uku ndiko kufona kwangu kwekutanga, saka zvirerukire.Saka Mike asati ataura nezvezvemari mukota yekutanga, ndinoda kutaura zvishoma zvekuvhura.
Inguva inonakidza yeCalfrac sezvo musika wekuNorth America unowedzera kusimba uye tave kutanga kuita hurukuro dzakasiyana nevatengi vedu.Makasitoma dynamics akanyanya kufanana muna 2017-18 pane muna 2021.Tinoda zvikuru nezvemikana nemibairo yatinotarisira kuti bhizinesi iri riunze kune vatinoshanda navo muna 2022 zvichienda mberi.
Kambani yakagadzira kukurumidza kwakanaka mukota yekutanga uye iri munzira yekuenderera mberi nekukura kusvika kwasara gore ra2022. Chikwata chedu chakakunda matambudziko ekushandisa cheni yekugovera kuti ipedze chikamu chakasimba kwazvo.
Tinodawo kuwedzera mitengo kusvika pamwero unozopa kudzoka kwakakwana pakudyara kwedu.Zvakakosha kwatiri uye tinofanira kuwana mibairo.Tichitarisa mberi kune kwasara kwa2022 kusvika muna 2023, tinotenda kuti tichaedza zvakare kuwana mari inoramba iripo.
Ndinosimbisa kuti kana kudiwa kwenyika kwemafuta negasi kuchiwedzera, kushanda zvakanaka kunotibvumira kutora mukana.
Ndinokutendai, George.Calfrac's first-quarter consolidated revenue kubva kuenderera mberi mashandiro akasimuka 38% gore negore kusvika $294.5 mamiriyoni.Kuwedzera kwemari kwainyanya kukonzerwa ne 39% kuwedzera kwe fracturing mari padanho nekuda kwepamusoro mari yekupinza yakaendeswa kune vatengi kumativi ose ekushanda, pamwe nekuvandudzwa kwemitengo muNorth America.
Yakagadziridzwa EBITDA kubva mukuenderera mberi kwemabasa akashumwa kwekota yaive madhora 20.8 miriyoni, zvichienzaniswa nemadhora 10.8 miriyoni pagore rapfuura.Mari yekushanda kubva mukuenderera mberi kwemabasa yakawedzera 83% kusvika $21.0 miriyoni kubva mukushandisa mari yemadhora 11.5 miriyoni mu2021 inofananidzwa kota.
Kuwedzera uku kwakakonzerwa nekushandiswa kwepamusoro uye mitengo muUS, pamwe nekushandiswa kwemidziyo yepamusoro mumitsara yese yebasa muArgentina.
Kurasikirwa kwemambure kubva mukuenderera mberi kwekuita kwekota yaive madhora gumi nemasere emamiriyoni, zvichienzaniswa nekurasikirwa kwese kubva mukuenderera mberi kwemabasa emadhora makumi maviri nematatu muchikamu chimwe chete cha2021.
Kwemwedzi mitatu yakapera Kurume 31, 2022, kuderera kwemitengo kubva kuenderera mberi nekushanda kwaienderana nenguva imwe chete muna 2021. Kudzikira kushoma kwemutengo mukota yekutanga kwakakonzerwa nekusanganiswa uye nguva yekushandiswa kwemari ine chekuita nezvikamu zvikuru.
Mari yemubereko muchikamu chekutanga cha2022 yakawedzera nemadhora 0.7 miriyoni kubva pagore rapfuura nekuda kwekukwereta kwakanyanya pasi pekambani inotenderera yechikwereti uye mari yemubereko ine chekuita nekudhonzwa kwechikwereti chebhiriji.
Mari yeCalfrac inoenderera mberi nekushandisa mari mukota yekutanga yaive madhora miriyoni gumi nemaviri, zvichienzaniswa nemadhora miriyoni gumi nemazana mashanu panguva imwe cheteyo muna 2021. Mashandisirwo aya ane chekuita nekugadzirisa mari uye anoratidza shanduko muhuwandu hwemidziyo yekushandisa muNorth America mukati menguva mbiri.
Kambani iyi yakaona kupinda kwemamiriyoni e9.2 emadhora mukuchinja kwemari yekushanda mukota yekutanga, zvichienzaniswa nekubuda kwemamiriyoni makumi maviri nesere emadhora panguva imwe chete muna 2021. Shanduko iyi yainyanya kufambiswa nenguva yekuunganidza uye kubhadhara kune vatengesi, chikamu chakaderedzwa nemari yepamusoro yekushanda nekuda kwemari yakawanda.
Muchikamu chekutanga cha2022, madhora 0.6 miriyoni yekambani 1.5 lien notes akashandurwa kuita zvinhu zvakajairika uye mari yemadhora 0.7 miriyoni yakagamuchirwa kubva mukushandiswa kwezvibvumirano.Kupfupikisa pepa remari pakupera kwekota yekutanga, mari yekambani kubva kuenderera mberi kwekushanda yaive madhora 130.2 miriyoni, kusanganisira $11.8 miriyoni yemadhora emadhora 3. miriyoni yemabhii echikwereti uye yaive nemadhora mazana maviri emamiriyoni ekukwereta pasi pechikwereti chayo, ichisiya madhora mazana mana nemakumi mapfumbamwe emamiriyoni emadhora mukukwanisa kukwereta pakupera kwekota yekutanga.
Mutsara wechikwereti wekambani unogumira nechikwereti chepamwedzi chemadhora mazana maviri nemakumi mana nemakumi matatu nesere kubva munaKurume 31, 2022. Pasi pemitemo yekambani yakagadziridzwa kiredhiti, Calfrac inofanirwa kuchengetedza mari inosvika zviuru gumi neshanu zvemadhora panguva yekuburitswa kwechibvumirano.
Kubva munaKurume 31, 2022, kambani yakadonhedza $15 miriyoni kubva kuchikwereti chebhiriji uye inogona kukumbira kumwe kudonhedzwa kwemadhora gumi emamiriyoni, nemubairo mukuru wemadhora 25 miriyoni. Pakupera kwekota, kukura kwechikwereti kwakawedzerwa kusvika Chikumi 28, 2022.
Ndatenda, Mike.Ini ndicharatidza maitiro ekushanda kweCalfrac munzvimbo yedu yese.Musika wedu wekuNorth America wakaramba uchishanda muhafu yekutanga yegore, sezvataitarisira, nekuwedzera kudiwa kwemidziyo kubva kuvagadziri pamwe chete nekushomeka kwepasherufu.
Isu tinotarisira kuti musika ucharamba wakaoma uye vamwe vanogadzira havazokwanisa kuita mabasa avo, izvo zvinoratidzira zvakanaka kugona kwedu kukwidza mitengo kuti tiwane kudzoka kunoshanda kubva kumidziyo yatinotumira.
MuUS, mhedzisiro yedu yekutanga yakaratidza kutevedzana uye gore-pamusoro-gore kuvandudzwa, zvakanyanya nekuda kwekuwedzera kukuru kwekushandiswa mumavhiki matanhatu apfuura ekota.
Mavhiki ekutanga e6 akanga asina kunyanya kunaka.Takawedzera kushandiswa kwese 8 zvikepe muna March uye isu tiri 75% yakakwana kana ichienzaniswa neJanuary.Kushandiswa kwepamusoro pamwe chete nekugadziriswa kwemitengo muna March kwakabvumira kambani kupedzisa chikamu nekushanda kwemari kwakanyanya.
Zvikepe zvedu zve9 zvichatanga kutanga kwaChivabvu. Isu tine chinangwa chekuchengetedza iyi nhanho kwegore rose kunze kwekunge kudiwa nevatengi uye mitengo kururamisa chero kumwezve kwekushandisa zvakare.
Tine kugona kuvaka ngarava dzegumi, pamwe zvakatonyanya, zvichienderana nemitengo uye kudiwa.MuCanada, yekutanga kota mhinduro yakakanganiswa nemitengo yekutanga uye nekukurumidza kuwedzera mari yekuisa iyo yataiedza kudzoreredza kubva kune vatengi.
Tine chikamu chechipiri chakasimba che2022 nekutangwa kwezvikepe zvedu zvechina zve fracturing uye chikwata chedu chechishanu chakavharidzirwa kuti tisangane nekukura kwevatengi. Chikamu chechipiri chakafambira mberi sezvataitarisira, nekutanga kunonoka nekuda kwekuvhiringidza kwemwaka.
Kuti tigadzirise mutengo wemafuta evashandi panguva yeSpring Break, chikamu chekuCanada chakaendesa vashandi kwenguva pfupi kubva kuCanada kuenda kuUnited States kuti vabatsire zvakanyanya kuwedzera basa muUnited States.Kushanda kwedu muArgentina kuri kuramba kuchipikiswa nekuderera kukuru kwemari uye kukwira kwemitengo, pamwe nekudzorwa kwemari kwakatenderedza kubuda kwemari kubva munyika.
Nekudaro, isu nguva pfupi yadarika takavandudza kondirakiti muVaca Muerta shale iyo ichabatanidza yakawedzera yakazvitsaurira fracturing zvikepe uye coiled tubing unit mitengo nevatengi varipo, kutanga muhafu yechipiri ya2022.
Tinotarisira kuchengetedza huwandu hwekushandiswa kwegore rasara. Mukupedzisira, tinoenderera mberi nekusimudzira matanho ekutanga ezvino kudiwa kutenderera kuti tiwane zvibereko zvinogoneka kune vagoveri vedu.
Ndinoda kutenda chikwata chedu nokuda kwekushanda nesimba mukati mekota yapfuura.Ndinotarisira mberi kwegore negore rinotevera.
Ndatenda, George. Ini zvino ndichadzosera runhare kumushandisi wedu wechikamu cheQ&A chekufona kwanhasi.
[Operator Instructions]. Tichapindura mubvunzo wekutanga kubva kuna Keith MacKey weRBC Capital Markets.
Iye zvino ndinongoda kutanga neUS EBITDA neboka rimwe nerimwe, chikamu chekubuda kwekota iyi zvechokwadi chakakwirira zvikuru kupfuura apo chikamu chakatanga.Unoona kupi maitiro muhafu yechipiri yegore? Iwe unofunga kuti iwe unogona kuenzana nechikepe chimwe nechimwe EBITDA ye $ 15 mamiriyoni muQ3 neQ4? Kana kuti tinofanira kuona sei maitiro aya?
Tarisai, ndinoreva, tarisai, tiri kuedza kuwana yedu - uyu ndiGeorge. Tiri kuedza kuenzanisa misika yedu nevakwikwidzi vedu. Isu tiri kure nenhamba dzakanakisisa. Tinoda kutanga ne $ 10 mamiriyoni uye kushanda nzira yako kusvika ku $ 15 mamiriyoni. Saka tiri kuedza kuona kufambira mberi. Parizvino, isu takatarisana nekushandisa nekubvisa mikaha mune yedu miriyoni 10 kusvika kune imwe madhora $ 10 kusvika kune imwe nzvimbo.
Kwete, zvine musoro.Pamwe chete maererano nemari, kana uchizotanga gumi rezvikepe muUS, kana uine fungidziro yeizvozvo panguva ino, unofunga kuti zvichavei maererano nemari?
$ 6 mamiriyoni. Isu - Ndinoreva kuti tine simba rekuenda kuhuwandu hwezvikepe zve 13. Asi mauto e11, 12 uye 13 achada mari inodarika mamiriyoni 6. Tiri kushanda pakuwana nhamba dzekupedzisira kana kudiwa kuchipfuura uye vanhu vanotanga kubhadhara kushandiswa kwechigadzirwa.
Koshesa ruvara irworwo.Pakupedzisira kwandiri, wakataura kuti wakatamisa vamwe vashandi pakati peCanada neUS muchikamu chekutanga.Zvichida kungotaura zvakawanda nezve supply chain in general, unoonei panyaya yebasa?Waonei pamhenderekedzo yegungwa?
Hongu, ndangofunga - ndinofunga kuti takati takatamira kwete muchikamu chekutanga asi muchikamu chechipiri nokuti US yakanga yakabatikana muchikamu chechipiri uye pakanga pane kupatsanurwa muWestern Canada.Ndaida kujekesa.Tarisa, indasitiri yega yega, munhu wose anotarisana nematambudziko, matambudziko ekugadzirisa zvinhu.
Asi hazvina kushanduka.Iyi inzvimbo ine simba.Tinofanira kuramba tiri mberi sevamwe vanhu vose.Asi tinovimba kuti zvinhu izvi hazvititadzise kunyatsokwanisa kupa basa rakanaka kune vatengi vedu.
Ndanga ndichida kudzokera kune zvaunotaura nezve kuwedzera imwe kana 2 zvikepe muUS, ndiri kureva, padanho repamusoro, unoda here kudzoreredza ngarava idzodzo kuti uwedzere mutengo?
Saka tave kumhanya mauto 8. Tinotanga Mutambo 9 musi weMuvhuro, Gumiguru 8 - ndine urombo, Chivabvu 8. Tarisai, ndinoreva kuti pane zvinhu zviviri pano. Tinotarisira kupihwa mubairo. Tinoda chokwadi chevimbiso kubva kune vatengi vedu.
Zvinenge zvakafanana nekutora-kana-kubhadhara fomu - hatisi kuzotumira mari uye kuita kuti ive yakasununguka urongwa apo vanogona kutibvisa chero nguva yavanoda.Naizvozvo, tinogona kufunga zvimwe zvinhu.Tinoda kuzvipira kwakasimba uye kutsigirwa kusingazununguki - kana vakangoshandura pfungwa dzavo, vanofanira kutibhadhara - mari yekuendesa zvinhu izvi pano.
Asi zvakare, isu tinofanirwa kuve nechokwadi chekuti ngarava dzega dzega dzinogona kuwana pakati pemadhora gumi nemakumi mashanu emamiriyoni emadhora kuti vakwanise kuendesa zvinhu zvitsva izvi - zvikepe zvitsva izvi kana zvimwe zvikepe, ndine hurombo.
Saka ndafunga kuti zvimwe zvakanaka kuti ndidzokorore kuti mitengo iri kuswedera pedyo nemazinga iwayo. Asi zvinonyanya kukosha, unoda kuona chibvumirano chechibvumirano kubva kune vatengi vako.
100% nekuti kwandiri zvinoita sekunge mutengi akarasa zvinhu zvakawanda munguva yakapfuura - taingoda kubva panheyo yerubatsiro kuenda kubhizinesi, handiti? Pane kupa rubatsiro kumakambani eE&P, tinoda kutanga kugovera mamwe mabhenefiti avanowana.