05:44 PM EDT, 07/25/2024 (MT Newswires) -- Stampede Drilling ( STPDF ) reports that second quarter loss widened as revenue fell.

The company, which provides contract drilling services in Western Canada, said its loss widened to $2.25 million, from a loss of $61,000 a year ago. This was due to lower revenue and depreciation expenses, Stampede said.

Revenue fell 28% to $9.9 million, from $13.8 million, last year. The decrease was primarily due to fewer operating days.

Stampede currently has 13 out of its 19 rigs operating, and it expects to maintain this positive momentum into the back half of the year.