Cordy Oilfield Services Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of $3.316 million against $2.129 million a year ago. Operating earnings were $0.103 million against $0.200 million a year ago. Normalized operating earnings were $0.326 million against $0.200 million a year ago. Loss before tax was $0.365 million against $0.544 million a year ago. Net loss was $0.365 million against $0.544 million a year ago.

For the six months, the company reported revenue of $8.443 million against $5.823 million a year ago. Operating earnings were $0.874 million against $0.868 million a year ago. Normalized operating earnings were $0.874 million against $0.868 million a year ago. Loss before tax was $0.170 million against $0.673 million a year ago. Net loss was $0.170 million against $0.673 million a year ago.

The company believes the second half of 2018 will trend similar to the first half, Cordy anticipates continued growth similar to levels seen in the first six months of 2018 as compared to 2017. The steady rise in crude oil pricing continues to improve optimism on increased future capital investment on infrastructure projects as well as drilling, both of which would benefit Cordy. Cordy expects pricing for its services to remain stagnant as competition and over abundance of equipment remains a market reality.