CES Energy Solutions Reports Record Q3 Results, Declares Dividend
Calgary-based CES Energy Solutions Corp. reported record financial results for the third quarter of 2025, underscoring a period of significant growth for the local energy services provider. The company announced revenues of $623.2 million and an adjusted EBITDAC of $103.3 million, achieving a robust 16.6% margin on November 13, 2025.
This strong performance aligns with broader industry trends in the Western Canadian Sedimentary Basin, where the Canadian Association of Energy Contractors (CAOEC) projects 2025 to see the highest level of oil and natural gas well drilling activity in a decade, anticipating 6,604 wells drilled – a 7.3% increase from 2024. This robust activity, partly fueled by increased pipeline capacity like the Trans Mountain Expansion, underpins the demand for specialized oilfield services provided by Calgary-based companies like CES.
CES attributed its success to heightened demand for its advanced chemical solutions, coupled with high service intensity and strategic acquisitions. Despite a 13% decrease in net income to $40.5 million due to higher depreciation expenses, the company returned $45.4 million to shareholders, maintaining conservative leverage. CES has also secured significant market shares in both the U.S. and Canadian drilling fluids markets.
The company's continued expansion and solid financial standing reinforce Calgary's pivotal role in the energy sector, demonstrating how local firms are strategically positioned to thrive amidst evolving industry dynamics and contribute to the city's standing in global energy markets.
