Western Energy Services (TSX:WRG) Long-Term Capital Lease Obligation : C$4.0 Mil (As of Mar. 2024)

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What is Western Energy Services Long-Term Capital Lease Obligation?

Western Energy Services's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$4.0 Mil.

Western Energy Services's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (C$2.1 Mil) to Dec. 2023 (C$1.9 Mil) but then increased from Dec. 2023 (C$1.9 Mil) to Mar. 2024 (C$4.0 Mil).

Western Energy Services's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (C$5.2 Mil) to Dec. 2022 (C$2.9 Mil) and declined from Dec. 2022 (C$2.9 Mil) to Dec. 2023 (C$1.9 Mil).

Western Energy Services Long-Term Capital Lease Obligation Historical Data

The historical data trend for Western Energy Services's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Western Energy Services Long-Term Capital Lease Obligation Chart

Western Energy Services Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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8.14

5.86

5.18

2.91

1.90

Western Energy Services Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															2.68	2.66	2.06	1.90	3.96

Western Energy Services (TSX:WRG) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Western Energy Services Long-Term Capital Lease Obligation Related Terms

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Western Energy Services (TSX:WRG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Western Energy Services Corp (TSX:WRG) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

WEEEF:USA

Address

215 - 9th Avenue SW, Suite 1700, Calgary, AB, CAN, T2P 1K3

Website

https://www.wesc.ca

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment. It generates revenue mainly through its Contract drilling operation segment.

Executives

Sime Armoyan	10% Security Holder
Tomer Cohen	Director

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