CALGARY, Alberta, May 17, 2022 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential”) announces that at its annual general meeting of shareholders on May 17, 2022, each of the six nominees proposed as directors and listed in the information circular dated March 9, 2022 (the “Circular”) were elected as directors. Detailed results of the vote are set out below.
VOTES FOR VOTES WITHHELD Nominee Number Percent Number Percent Garnet K. Amundson 50,180,921 97.42% 1,327,313 2.58% James A. Banister 48,895,524 94.93% 2,612,710 5.07% Felicia B. Bortolussi 50,062,423 97.19% 1,445,811 2.81% Robert T. German 50,071,746 97.21% 1,436,488 2.79% Nicholas G.… Continue ReadingEssential Energy Services Announces First Quarter Financial Results
CALGARY, Alberta, May 12, 2022 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces first quarter financial results.
SELECTED INFORMATION
(in thousands of dollars exceptper share and percentages) For the three months ended
March 31, 2022 2021 Revenue $ 37,741 $ 30,150 Gross margin 6,021 6,738 Gross margin % 16% 22% EBITDAS(1) 3,615 4,888 EBITDAS %(1) 10% 16% Net loss $ (3,921 ) $ (2,593 ) Per share – basic and diluted $ (0.03 ) $ (0.02 ) Operating hours Coiled tubing rigs 10,016 8,629 Pumpers 13,014 11,603 As at March 31, 2022 2021 … Continue Reading
Essential Energy Services Announces Fourth Quarter and Year End Financial Results and Its 2022 Capital Budget
CALGARY, Alberta, March 09, 2022 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces fourth quarter and year financial results and its 2022 capital budget.
SELECTED INFORMATION
(in thousands of dollars exceptper share and percentages) For the three months ended For the years ended December 31, December 31, 2021 2020 2021 2020 2019 Revenue $ 35,104 $ 24,554 $ 121,208 $ 96,173 $ 141,133 Gross margin 5,105 5,810 23,228 20,418 26,055 Gross margin % 15% 24 % 19% 21% 18% EBITDAS (1) 2,423 4,105 15,181 13,530 16,975 EBITDAS % (1) 7% 17 % 13% … Continue Reading
Essential Energy Services Announces Normal Course Issuer Bid
CALGARY, Alberta, Dec. 17, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted the Company’s notice of intention to implement a normal course issuer bid (“NCIB”) during the 12-month period commencing December 21, 2021 and ending December 20, 2022, or until such earlier time the NCIB is completed or terminated at the option of Essential.
At December 16, 2021, Essential had 141,856,813 common shares (“Shares”) issued and outstanding. Under the NCIB, Essential may purchase up to 10,374,478 Shares, representing 7.5 percent of the public … Continue Reading
Essential Energy Services Announces Extension And Amendment of Its Credit Facility
CALGARY, Alberta, Nov. 25, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces it has entered into the second amending agreement to its June 26, 2018 credit facility agreement (together with the first amending agreement, the “Amended Credit Facility”) with a syndicate of lenders comprised of National Bank of Canada, ATB Financial and Canadian Western Bank (the “Lenders”). The Amended Credit Facility provides Essential an extension of the maturity date of the revolving secured credit facility to November 30, 2024, along with amendments to certain terms and conditions.
Primary Amendments
The primary changes in … Continue Reading
Essential Energy Services Announces Appointment of a New Board Member
CALGARY, Alberta, Nov. 09, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) is pleased to announce the appointment of Ms. Felicia Bortolussi to the Company’s Board of Directors effective immediately.
Ms. Bortolussi is an experienced securities lawyer with over 25 years dealing with corporate and commercial legal matters, corporate governance, mergers, acquisitions and divestments, capital formation, securities regulatory compliance, continuous disclosure, risk management and executive compensation and incentive programs. Ms. Bortolussi is the principal of her independent legal and advisory practice, which she established seven years ago and which includes acting in the capacity … Continue Reading
Essential Energy Services Announces Third Quarter Financial Results
CALGARY, Alberta, Nov. 03, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces third quarter financial results.
SELECTED INFORMATION
(in thousands of dollars exceptper share and percentages) For the three months ended For the nine months ended September 30, September 30, 2021 2020 2021 2020 Revenue $ 33,513 $ 19,241 $ 86,104 $ 71,619 Gross margin 6,094 5,314 18,123 14,608 Gross margin % 18% 28% 21% 20% EBITDAS (1) 4,441 4,033 12,758 9,425 EBITDAS % 13% 21% 15% 13% Net income (loss)⁽ⁱ⁾ $ 684 $ (1,529 ) $ (6,928 ) $ (12,584 )… Continue Reading
Essential Energy Services Announces Second Quarter Financial Results
CALGARY, Alberta, Aug. 05, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces second quarter financial results.
SELECTED INFORMATION
For the three months ended For the six months ended (in thousands of dollars except June 30, June 30, per share and percentages) 2021 2020 2021 2020 Revenue $ 22,441 $ 10,955 $ 52,591 $ 52,378 Gross margin 5,291 876 12,029 9,294 Gross margin % 24 % 8 % 23 % 18 % EBITDAS (1) 3,429 (492 ) 8,317 5,392 EBITDAS % 15 % (4 %) 16 % 10 % Net loss⁽ⁱ⁾ $ (5,019 )… Continue ReadingEssential Energy Services Announces Fourth Quarter and Year End Financial Results and Its 2021 Capital Budget
CALGARY, Alberta, March 03, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (âEssentialâ or the âCompanyâ) announces fourth quarter and year end results and its 2021 capital budget.
SELECTED INFORMATION
(in thousands of dollars exceptper share and percentages) For the three months ended For the years ended December 31, December 31, 2020 2019 2020 2019 2018 Revenue $ 24,554 $ 27,323 $ 96,173 $ 141,133 $ 189,894 Gross marginâ½â±â¾ 5,810 3,016 20,418 26,055 32,681 Gross margin % 24% 11% 21% 18% 17% EBITDASâ½¹â¾â½â±â¾ 4,105 1,729 13,530 16,975 19,719 EBITDAS % 17% 6% 14% 12% 10% Net lossâ½â±â¾â½â±â±â¾ … Continue Reading
Essential Energy Services Announces Director Resignation
CALGARY, Alberta, Jan. 26, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (âEssentialâ or the âCompanyâ) announces that Mr. Steven Sharpe has resigned from its Board of Directors. The Company would like to thank Mr. Sharpe for his contributions and wishes him well in his future endeavors.
ABOUT ESSENTIAL
Essential provides oilfield services to oil and natural gas producers, primarily in western Canada. Essential offers completion, production and wellsite restoration services to a diverse customer base. Services are offered with coil tubing, fluid and nitrogen pumping and the sale and rental of downhole tools and equipment. Essential has … Continue Reading
Essential Energy Services Announces Third Quarter Financial Results
CALGARY, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (âEssentialâ or the âCompanyâ) announces third quarter results.
SELECTED INFORMATION
(in thousands of dollars exceptper share and percentages) For the three months ended For the nine months ended September 30, September 30, 2020 2019 2020 2019 Revenue $ 19,241 $ 39,278 $ 71,619 $ 113,810 Gross margin 5,314 8,873 14,608 23,039 Gross margin % 28% 23% 20% 20% EBITDAS (1) 4,033 6,294 9,425 15,246 Net (loss) income before impairment loss (1) (1,529) 1,555 (3,763) 1,605 Per share – basic and diluted (0.01) 0.01 (0.03) 0.01 … Continue Reading
Essential Energy Services Announces Second Quarter Financial Results
CALGARY, Alberta, Aug. 10, 2020 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (âEssentialâ or the âCompanyâ) announces second quarter results.
SELECTED INFORMATION
(in thousands of dollars except
For the three months ended
June 30,
For the six months ended
June 30,
per share and percentages)
2020
2019
2020
2019
Revenue
$
10,955
$
27,086
$
52,378
$
74,532
Gross margin
876
3,607
9,294
14,166
Gross margin %
8%
13%
18%
19%
EBITDAS(1)
(492
)
1,408
5,392
8,952
Net (loss) income before impairment loss(1)
(6,030
)
(1,357
)
(2,232
)
50
Per share â basic and diluted
(0.04
)
… Continue Reading
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