Cathedral Q2 Revenues Lowest Since 2004

摘要

Cathedral Energy Services Income Trust posted its lowest quarterly revenues since 2004 during the second quarter of 2009, traditionally the weakest period of the year. It had a net loss of $1.48 million and negative cash flow for the three month period (see tables). In the Western Canadian Sedimentary Basin, the number of wells drilled in the second quarter was down approximately 45% compared to a year earlier and on a year-to-date basis, the count was down 42%. In the U.S., drilling activity is down significantly and in particular in the Rocky Mountain region of the U.S., which was the trust's main area of focus.