STAMPEDE DRILLING INC. ANNOUNCES 2025 THIRD QUARTER RESULTS

Executive Summary

• Stampede Drilling reports Q3 2025 revenue of $20.7 M, down 15% YoY, and a net loss for the nine‑month period ending September 30, 2025 of $710 K (vs. a $4.48 M profit in 2024).
• Adjusted EBITDA fell 14% QoQ to $4.20 M and 36% YoY to $8.71 M for the nine‑month period, reflecting reduced operating days and customer program deferrals.
• The company extended its $50 M credit facility to September 2028 and highlighted a modest capital expenditure increase of 59% QoQ ($4.98 M) despite lower utilization.

Key Details

• Revenue: Q3 2025 – $20,678 K (‑15% YoY); Nine months – $50,094 K (‑19% YoY).
• Net Income / Loss: Q3 2025 – $826 K profit (‑54% YoY); Nine months – $(710) K loss (‑116% YoY).
• Adjusted EBITDA: Q3 2025 – $4,199 K (‑14% YoY); Nine months – $8,705 K (‑36% YoY).
• Free Cash Flow: Q3 2025 – $2,121 K (‑38% YoY); Nine months – $3,710 K (‑52% YoY).
• Operating Days: Q3 2025 – 802 days (‑11% YoY); Nine months – 1,833 days (‑17% YoY).
• Rig Utilization: Q3 2025 – 51%; Nine months – 39% (down from 42% YoY).
• Capital Expenditures: $4,981 K in Q3 2025 (↑59% QoQ); $14,212 K for the nine‑month period (↑10% YoY).
• Credit Facility Extension: Extended term to September 20, 2028; facility unchanged at $50 M ($20 M term loan + two $15 M revolvers).
• Asset Sale: Closed May 5 2025 transaction on Oct 31 2025 – cash $5,000 plus equipment valued ~$290 K transferred to Stampede; assets classified as held‑for‑sale at $1.251 M (previously $0).
• Outlook Commentary: Management cites volatile commodity prices, geopolitical tensions, and Canadian policy changes as headwinds; expects modest capital needs to achieve full rig utilization.

Notable Quotes

• “The extension of our credit agreement provides the financial flexibility needed to pursue growth opportunities while navigating a challenging market environment,” – Lyle Whitmarsh, President & CEO.