CALGARY, ALBERTA–(Marketwired – Oct. 29, 2015) – Western Energy Services Corp. (“Western” or the “Company”) (TSX:WRG) is pleased to release its third quarter 2015 financial and operating results and declares a reduced quarterly dividend of $0.05 per share. Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis as at and for the three and nine months ended September 30, 2015 and 2014 will be available on SEDAR at www.sedar.com. Non-International Financial Reporting Standards (“Non-IFRS”) measures and abbreviations for standard industry terms are included in this press release. All amounts are denominated in Canadian dollars (CDN$) unless otherwise identified.
Third Quarter 2015 Highlights:
Year to Date Highlights:
Quarterly Dividend
Given the current commodity price environment and limited visibility for oilfield service activity heading into 2016, the Board of Directors has reduced the quarterly dividend by 33%, to $0.05 per share, payable on January 14, 2016 to shareholders of record at the close of business on December 31, 2015. These dividends are eligible for Canadian income tax purposes. On a prospective basis, the declaration of dividends will be determined on a quarter-by-quarter basis by the Board of Directors.
Selected Financial Information
(stated in thousands, except share and per share amounts) | |||||||||||||
Three months ended Sept 30 | Nine months ended Sept 30 | ||||||||||||
Financial Highlights | 2015 | 2014 | Change | 2015 | 2014 | Change | |||||||
Revenue | 46,959 | 125,225 | (63 | %) | 184,846 | 368,622 | (50 | %) | |||||
Operating Revenue(1) | 44,350 | 117,960 | (62 | %) | 176,027 | 344,939 | (49 | %) | |||||
Gross Margin(1) | 14,285 | 50,570 | (72 | %) | 72,579 | 149,405 | (51 | %) | |||||
Gross Margin as a percentage of Operating Revenue | 32 | % | 43 | % | (26 | %) | 41 | % | 43 | % | (5 | %) | |
Adjusted EBITDA(1) | 8,080 | 42,782 | (81 | %) | 52,972 | 126,358 | (58 | %) | |||||
Adjusted EBITDA as a percentage of Operating Revenue | 18 | % | 36 | % | (50 | %) | 30 | % | 37 | % | (19 | %) | |
Cash flow from operating activities | (530 | ) | 22,975 | (102 | %) | 79,816 | 133,521 | (40 | %) | ||||
Capital expenditures | 4,752 | 31,144 | (85 | %) | 30,303 | 77,533 | (61 | %) | |||||
Net income (loss) | (76,816 | ) | 14,718 | (622 | %) | (74,129 | ) | 44,614 | (266 | %) | |||
-basic net income (loss) per share | (1.04 | ) | 0.20 | (620 | %) | (1.00 | ) | 0.60 | (267 | %) | |||
-diluted net income (loss) per share | (1.04 | ) | 0.19 | (647 | %) | (1.00 | ) | 0.59 | (269 | %) | |||
Weighted average number of shares | |||||||||||||
-basic | 74,044,832 | 74,849,483 | (1 | %) | 74,434,833 | 74,232,921 | – | ||||||
-diluted | 74,044,832 | 75,742,044 | (2 | %) | 74,434,833 | 75,641,911 | (2 | %) | |||||
Outstanding common shares as at period end | 73,684,965 | 74,883,428 | (2 | %) | 73,684,965 | 74,883,428 | (2 | %) | |||||
Dividends declared | 5,526 | 5,615 | (2 | %) | 16,710 | 16,762 | – | ||||||
(1) See “Non-IFRS measures” included in this press release. |
Three months ended Sept 30 |
Nine months ended Sept 30 |
||||||||||||
Operating Highlights | 2015 | 2014 | Change | 2015 | 2014 | Change | |||||||
Contract Drilling | |||||||||||||
Canadian Operations: | |||||||||||||
Contract drilling rig fleet: | |||||||||||||
-Average | 50 | 49 | 2 | % | 49 | 49 | – | ||||||
-End of period | 52 | 49 | 6 | % | 52 | 49 | 6 | % | |||||
Operating Revenue per Revenue Day(1) | 21,135 | 24,887 | (15 | %) | 23,815 | 25,852 | (8 | %) | |||||
Operating Revenue per Operating Day(1) | 23,220 | 27,350 | (15 | %) | 26,221 | 28,343 | (7 | %) | |||||
Operating Days(1) | 1,176 | 2,692 | (56 | %) | 3,793 | 7,754 | (51 | %) | |||||
Drilling rig utilization – Revenue Days(1) | 28 | % | 66 | % | (58 | %) | 31 | % | 64 | % | (52 | %) | |
Drilling rig utilization – Operating Days(1) | 26 | % | 60 | % | (57 | %) | 28 | % | 58 | % | (52 | %) | |
CAODC industry average utilization(1)(2) | 24 | % | 46 | % | (48 | %) | 24 | % | 44 | % | (45 | %) | |
United States Operations: | |||||||||||||
Contract drilling rig fleet: | |||||||||||||
-Average | 5 | 5 | – | 5 | 5 | – | |||||||
-End of period | 5 | 5 | – | 5 | 5 | – | |||||||
Operating Revenue per Revenue Day (US$)(1) | 30,260 | 26,239 | 15 | % | 29,140(3 | ) | 25,385 | 15 | % | ||||
Operating Revenue per Operating Day (US$)(1) | 32,341 | 29,348 | 10 | % | 32,967(3 | ) | 28,905 | 14 | % | ||||
Operating Days(1) | 86 | 410 | (79 | %) | 442 | 1,121 | (61 | %) | |||||
Drilling rig utilization – Revenue Days(1) | 20 | % | 100 | % | (80 | %) | 37 | % | 94 | % | (61 | %) | |
Drilling rig utilization – Operating Days(1) | 19 | % | 89 | % | (79 | %) | 32 | % | 82 | % | (61 | %) | |
Production Services | |||||||||||||
Well servicing rig fleet: | |||||||||||||
-Average | 66 | 65 | 2 | % | 66 | 65 | 2 | % | |||||
-End of period | 66 | 65 | 2 | % | 66 | 65 | 2 | % | |||||
Service Rig Operating Revenue per Service Hour(1) | 712 | 804 | (11 | %) | 799 | 810 | 1 | % | |||||
Service Hours | 15,565 | 33,071 | (53 | %) | 55,873 | 93,313 | (40 | %) | |||||
Service rig utilization(1) | 26 | % | 55 | % | (53 | %) | 31 | % | 53 | % | (42 | %) | |
(1) See “Non-IFRS measures” included in this press release. | |||||||||||||
(2) Source: The Canadian Association of Oilwell Drilling Contractors (“CAODC”). The CAODC industry average is based on Operating Days divided by total available days. | |||||||||||||
(3) Excludes shortfall commitment and standby revenue from take or pay contracts of US$4.5 million for the nine months ended September 30, 2015. | |||||||||||||
Financial Position at (stated in thousands) | Sept 30, 2015 | Sept 30, 2014 | Dec 31, 2014 | ||
Working capital | 71,735 | 71,912 | 78,336 | ||
Property and equipment | 843,670 | 816,825 | 827,306 | ||
Total assets | 947,137 | 1,040,973 | 1,057,118 | ||
Long term debt | 264,219 | 263,624 | 264,165 |
Western is an oilfield service company focused on three core business lines: contract drilling, well servicing and oilfield rental equipment services. Western provides contract drilling services through its division, Horizon Drilling (“Horizon”) in Canada, and its wholly owned subsidiary, Stoneham Drilling Corporation (“Stoneham”), in the United States (“US”). Western provides well servicing operations in Canada through Western Energy Services Partnership’s (the “Partnership”) division, Eagle Well Servicing (“Eagle”) and oilfield rental equipment services in Canada through the Partnership’s division, Aero Rental Services (“Aero”). Financial and operating results for Horizon and Stoneham are included in Western’s contract drilling segment, while Eagle and Aero’s financial and operating results are included in Western’s production services segment.
Western currently has a drilling rig fleet of 57 rigs specifically suited for drilling horizontal wells of increased complexity. The average age of the drilling rig fleet is approximately seven years. Western is the sixth largest drilling contractor in Canada with a fleet of 52 rigs operating through Horizon. Of the Canadian fleet, 25 are classified as Cardium rigs, 19 as Montney rigs and 8 as Duvernay rigs. As compared to the Cardium classified rigs, Montney rigs have a larger hookload, while Duvernay rigs have the largest hookload. Additionally, Western has five Duvernay class triple drilling rigs deployed in the United States operating through Stoneham. Western is also the sixth largest well servicing company in Canada with a current fleet of 66 rigs operating through Eagle. Western’s well servicing rig fleet is one of the newer fleets in the Western Canadian Sedimentary Basin (“WCSB”), with an average age of approximately six years. Western’s oilfield rental equipment division, which operates through Aero, provides oilfield rental equipment for frac services, well completions and production work, coil tubing and drilling services.
Crude oil and natural gas prices impact the cash flow of Western’s customers, which in turn impacts the demand for Western’s services. Overall performance of the Company continued to be affected by the decline in crude oil and natural gas prices for the three and nine months ended September 30, 2015. While crude oil prices were strong in the first six months of 2014, they weakened significantly in the last half of 2014 and into the first nine months of 2015. Partially offsetting the decline in crude oil and natural gas prices for Western’s Canadian customers was the strengthening of the US dollar in comparison to the Canadian dollar. The following table summarizes the average oil and natural gas prices, as well as the average foreign exchange rates for the three and nine months ended September 30, 2015 and 2014.
Three months ended Sept 30 |
Nine months ended Sept 30 |
|||||||||||
2015 | 2014 | Change | 2015 | 2014 | Change | |||||||
Average oil and natural gas prices(1) | ||||||||||||
Oil | ||||||||||||
West Texas Intermediate (US$/bbl) | 46.43 | 97.17 | (52 | %) | 50.96 | 99.61 | (49 | %) | ||||
Western Canadian Select (CDN$/bbl) | 43.26 | 85.68 | (50 | %) | 47.72 | 87.62 | (46 | %) | ||||
Natural Gas | ||||||||||||
30 day Spot AECO (CDN$/mcf) | 2.91 | 4.03 | (28 | %) | 2.78 | 4.79 | (42 | %) | ||||
Average foreign exchange rates | ||||||||||||
US dollar to Canadian dollar | 1.31 | 1.09 | 20 | % | 1.26 | 1.09 | 16 | % | ||||
(1) See “Abbreviations” included in this press release. |
The significant reduction in commodity prices has resulted in a corresponding decrease in the demand for oilfield services in both Canada and the United States. The CAODC reported that for drilling in Canada, the total number of Operating Days in the WCSB decreased approximately 47% and 48% for the three and nine months ended September 30, 2015 respectively, as compared to the same periods in the prior year. Similarly, as reported by Baker Hughes Incorporated, the average number of active drilling rigs in the United States decreased approximately 54% and 43% respectively, for the three and nine months ended September 30, 2015, as compared to the three and nine months ended September 30, 2014. Well servicing hours were also impacted by the decline in demand, as the CAODC reported that Service Hours in the WCSB decreased approximately 39% and 36% respectively, for the three and nine months ended September 30, 2015, as compared to the same periods in the prior year.
Outlook
Currently, 8 of Western’s 57 drilling rigs (or 14%) are operating under long term take-or-pay contracts providing a base level of future revenue, with 1 of these contracts expected to expire in 2015, 4 expected to expire in 2016 and 3 expected to expire in 2017. These contracts each typically generate between 250 and 350 Revenue Days per year.
Western’s revised capital budget for 2015 is expected to total $38 million, a $4 million decrease from the previously disclosed $42 million. The revised capital budget is comprised of $23 million of expansion capital and $15 million of maintenance capital. The following table summarizes the 2015 revised capital budget, the capital spending incurred for the nine months ended September 30, 2015 and the remaining capital budget expected to be incurred throughout the remainder of 2015:
Capital Expenditures (stated in millions) |
Revised 2015 Budget at July 31, 2015 | Cancellations | Revised 2015 Budget at October 29, 2015 |
Nine months ended September 30, 2015 Capital Expenditures | Capital Budget Remaining | ||||
Expansion | 23 | – | 23 | (21 | ) | 2 | |||
Maintenance | 19 | (4 | ) | 15 | (9 | ) | 6 | ||
Total Capital Expenditures | 42 | (4 | ) | 38 | (30 | ) | 8 |
Expansion capital relates to the completion of three Duvernay class rigs, one of which is a 6,000m AC triple pad drilling rig and two of which are 5,000m telescopic double drilling rigs, as well as one slant well servicing rig carried forward from the 2014 capital budget. In addition, expansion capital includes $3 million related to the purchase of additional oilfield rental equipment. As a result of reduced activity, spending on maintenance capital has been weighted to the latter part of 2015, which provides flexibility to maintain Western’s active rig fleet while allowing for additional reductions, if necessary, in the fourth quarter of 2015. Western believes the 2015 capital budget provides a prudent use of cash resources and ensures that it continues to maintain its balance sheet flexibility allowing for the execution on strategic opportunities as they arise. Western will continue to evaluate and expand its operations in a disciplined manner and make any required adjustments to its capital program as customer demand changes.
The continued pressure on crude oil and natural gas prices has resulted in reductions to the capital spending plans for the majority of Western’s customers. In many cases, the capital spending reductions have been significant. As a result, active drilling rig counts in both Canada and the United States are currently at five year lows. Activity levels throughout the oilfield services industry for the fourth quarter of 2015 and the first quarter of 2016 are expected to be significantly lower as compared to the fourth quarter of 2014 and the first quarter of 2015 respectively, when the effect of the lower commodity price environment had not fully impacted Western’s activity levels and pricing. Lower activity and pricing pressure will continue to impact Western’s Adjusted EBITDA and cash flow from operating activities. Western’s variable cost structure, under which approximately 80% of operating and administrative costs are variable, and a prudent capital budget will aid in preserving balance sheet strength. At September 30, 2015, Western’s Net Debt to trailing 12 month Adjusted EBITDA ratio was 2.0. In addition to $56.6 million in cash and cash equivalents at September 30, 2015, Western has $175 million available on the Company’s revolving credit facility (the “Revolving Facility”), which does not mature until December 17, 2018, $20 million available on the Company’s operating demand revolving loan (the “Operating Facility”), and no principal repayments due on the $265 million Senior Notes until they mature on January 30, 2019. As such, Western is well positioned to manage the current slowdown in activity.
Oilfield service activity will be impacted by the development of resource plays in Alberta and northeast British Columbia including those related to liquefied natural gas projects, increased crude oil transportation capacity through rail and pipeline development and foreign investment into Canada. Currently, the largest challenge facing the oilfield service industry is customer spending constraints as a result of lower commodity prices. Western’s view is that its modern drilling and well servicing rig fleets, strong customer base and reputation provide a competitive advantage which will enable the Company to continue its growth strategy and maintain its higher than industry average utilization.
Non-IFRS Measures
Western uses certain measures in this press release which do not have any standardized meaning as prescribed by International Financial Reporting Standards (“IFRS”). These measures which are derived from information reported in the condensed consolidated financial statements may not be comparable to similar measures presented by other reporting issuers. These measures have been described and presented in this press release in order to provide shareholders and potential investors with additional information regarding the Company. These Non-IFRS measures are identified and defined as follows:
Operating Revenue
Management believes that in addition to revenue, Operating Revenue is a useful supplemental measure as it provides an indication of the revenue generated by Western’s principal operating activities, excluding flow through third party charges such as rig fuel, which at the customer’s request may be paid for initially by Western, then recharged in its entirety to Western’s customers.
Gross Margin
Management believes that in addition to net income, Gross Margin is a useful supplemental measure as it provides an indication of the results generated by Western’s principal operating activities prior to considering administrative expenses, depreciation and amortization, how those activities are financed, the impact of foreign exchange, how the results are taxed, how funds are invested, and how non-cash items and one-time gains and losses affect results.
The following table provides a reconciliation of revenue under IFRS, as disclosed in the condensed consolidated statements of operations and comprehensive income, to Operating Revenue and Gross Margin:
Three months ended Sept 30 | Nine months ended Sept 30 | ||||||||
(stated in thousands) | 2015 | 2014 | 2015 | 2014 | |||||
Operating Revenue | |||||||||
Drilling | 30,921 | 86,735 | 123,274 | 255,228 | |||||
Production Services | 13,448 | 31,463 | 53,025 | 90,957 | |||||
Less: inter-company eliminations | (19 | ) | (238 | ) | (272 | ) | (1,246 | ) | |
44,350 | 117,960 | 176,027 | 344,939 | ||||||
Third party charges | 2,609 | 7,265 | 8,819 | 23,683 | |||||
Revenue | 46,959 | 125,225 | 184,846 | 368,622 | |||||
Less: operating expenses | (41,684 | ) | (90,891 | ) | (141,869 | ) | (265,079 | ) | |
Add: | |||||||||
Depreciation – operating | 8,791 | 16,042 | 29,040 | 45,251 | |||||
Stock based compensation – operating | 219 | 194 | 562 | 611 | |||||
Gross Margin | 14,285 | 50,570 | 72,579 | 149,405 |
Adjusted EBITDA
Management believes that in addition to net income, earnings before interest and finance costs, taxes, depreciation and amortization, other non-cash items and one-time gains and losses (“Adjusted EBITDA”) is a useful supplemental measure as it provides an indication of the results generated by the Company’s principal operating segments similar to Gross Margin but also factors in the cash administrative expenses incurred in the period.
Operating Earnings
Management believes that in addition to net income, Operating Earnings is a useful supplemental measure as it provides an indication of the results generated by the Company’s principal operating segments similar to Adjusted EBITDA but also factors in the depreciation expense incurred in the period.
The following table provides a reconciliation of net income under IFRS, as disclosed in the condensed consolidated statements of operations and comprehensive income, to earnings before interest and finance costs, taxes and depreciation and amortization (“EBITDA”), Adjusted EBITDA and Operating Earnings:
Three months ended Sept 30 | Nine months ended Sept 30 | ||||||||
(stated in thousands) | 2015 | 2014 | 2015 | 2014 | |||||
Net income (loss) | (76,816 | ) | 14,718 | (74,129 | ) | 44,614 | |||
Add: | |||||||||
Finance costs | 5,508 | 5,155 | 15,029 | 15,885 | |||||
Income taxes | (2,247 | ) | 5,525 | 8,725 | 16,527 | ||||
Depreciation – operating | 8,791 | 16,042 | 29,040 | 45,251 | |||||
Depreciation – administrative | 464 | 448 | 1,378 | 1,332 | |||||
EBITDA | (64,300 | ) | 41,888 | (19,957 | ) | 123,609 | |||
Add: | |||||||||
Stock based compensation – operating | 219 | 194 | 562 | 611 | |||||
Stock based compensation – administrative | 980 | 918 | 2,599 | 1,754 | |||||
Impairment loss on goodwill | 71,256 | – | 71,256 | – | |||||
Other items | (75 | ) | (218 | ) | (1,488 | ) | 384 | ||
Adjusted EBITDA | 8,080 | 42,782 | 52,972 | 126,358 | |||||
Subtract: | |||||||||
Depreciation – operating | (8,791 | ) | (16,042 | ) | (29,040 | ) | (45,251 | ) | |
Depreciation – administrative | (464 | ) | (448 | ) | (1,378 | ) | (1,332 | ) | |
Operating Earnings (loss) | (1,175 | ) | 26,292 | 22,554 | 79,775 |
Net Debt
The following table provides a reconciliation of long term debt under IFRS, as disclosed in the condensed consolidated balance sheets to Net Debt:
(stated in thousands) | Sept 30, 2015 | December 31, 2014 | ||
Long term debt | 264,219 | 264,165 | ||
Current portion of long term debt | 832 | 1,062 | ||
Less cash and cash equivalents | (56,554 | ) | (62,662 | ) |
Net Debt | 208,497 | 202,565 |
Drilling rig utilization – Operating Days: Calculated based on Operating Days divided by total available days.
Drilling rig utilization – Revenue Days: Calculated based on Revenue Days divided by total available days.
Operating Days: Defined as contract drilling days, calculated on a spud to rig release basis.
Revenue Days: Defined as Operating Days plus rig mobilization days.
Service Hours: Defined as well servicing hours completed.
Service rig utilization: Calculated based on Service Hours divided by available hours, being 10 hours per day, per well servicing rig, 365 days per year.
Contract Drilling Rig Classifications
Cardium class rig: Defined as any contract drilling rig which has a total hookload of less than 400,000 lbs (or 178,000 daN).
Duvernay class rig: Defined as any contract drilling rig which has a total hookload of more than 500,000 lbs (or 222,000 daN).
Montney class rig: Defined as any contract drilling rig which has a total hookload between 400,000 lbs (or 178,000 daN) and 500,000 lbs (or 222,000 daN).
Abbreviations:
2015 Third Quarter Results Conference Call and Webcast
Western has scheduled a conference call and webcast to begin at 10:00 a.m. MST (12:00 p.m. EST) on Friday, October 30, 2015.
The conference call dial-in number is 1-800-355-4959.
A live webcast of the conference call will be accessible on Western’s website at www.wesc.ca by selecting “Investors“, then “Webcasts“. Shortly after the live webcast, an archived version will be available for approximately 14 days.
An archived recording of the conference call will also be available approximately one hour after the completion of the call until November 13, 2015 by dialing 1-800-408-3053 or 905-694-9451, passcode 3623303.
Forward-Looking Statements and Information
This press release contains certain statements or disclosures relating to Western that are based on the expectations of Western as well as assumptions made by and information currently available to Western which may constitute forward-looking information under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Western anticipates or expects may, or will occur in the future (in whole or part) should be considered forward-looking information. In some cases forward-looking information can be identified by terms such as “forecast”, “future,” “may”, “will”, “expect”, “anticipate,”, “believe”, “potential”, “enable”, “plan”, “continue”, “contemplate”, “pro forma”, or other comparable terminology.
In particular, forward-looking information in this press release includes, but is not limited to, statements relating to the declaration of dividends; the future demand for the Company’s services and equipment; the terms of existing and future drilling contracts in Canada and the US and the revenues resulting therefrom (including the number of Operating Days typically generated from the Company’s contracts); the Company’s expansion and maintenance capital plans for 2015, including the ability of current capital resources to cover Western’s financial obligations and the 2015 capital budget; the Company’s expected sources of funding to support such capital plans and the Company’s ability to adjust capital spending for the remainder of 2015 if market conditions change; expectations as to the increase in crude oil transportation capacity through rail and pipeline development; expectations as to the necessary approvals for liquefied natural gas projects being obtained; the expectation of continued foreign investment into the Canadian oilfield industry; the expectation of significantly lower activity levels in the oilfield services industry in 2015 (compared to 2014); and the expectation that producer spending constraints will continue to be a large challenge facing the Company in 2015.
The material assumptions in making the forward-looking statements in this press release include, but are not limited to, assumptions relating to, demand levels and pricing for oilfield services; fluctuations in the price and demand for oil and natural gas; the continued low levels of and pressures on commodity pricing; the continued business relationship between the Company and its significant customers; general economic and financial market conditions; the development of liquefied natural gas projects, crude oil transport and pipeline approval and development; the Company’s ability to finance its operations; the effects of seasonal and weather conditions on operations and facilities; the competitive environment to which the various business segments are, or may be, exposed in all aspects of their business; the ability of the Company’s various business segments to access equipment (including spare parts and new technologies); changes in laws or regulations; currency exchange fluctuation; the ability of the Company to attract and retain skilled labour and qualified management; the ability to retain and attract significant customers; and other unforeseen conditions which could impact the use of services supplied by Western including Western’s ability to respond to such conditions.
Although Western believes that the expectations and assumptions on which such forward-looking statements and information are based on are reasonable, undue reliance should not be placed on the forward-looking statements and information as Western cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that the demand for oilfield services will not improve for the remainder of 2015 and that commodity price levels will remain low, and other general industry, economic, market and business conditions. Readers are cautioned that the foregoing list of risks, uncertainties and assumptions are not exhaustive. Additional information on these and other risk factors that could affect Western’s operations and financial results are included in Western’s annual information form which may be accessed through the SEDAR website at www.sedar.com. The forward-looking statements and information contained in this press release are made as of the date hereof and Western does not undertake any obligation to update publicly or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Alex R.N. MacAusland
President and CEO
Western Energy Services Corp.
403.984.5916
403.984.5917 (FAX)
Jeffrey K. Bowers
Senior VP Finance and CFO
Western Energy Services Corp.
403.984.5916
403.984.5917 (FAX)
www.wesc.ca