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 Reading

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 except
per 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

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.

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(in thousands of dollars except
per 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

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

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

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

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 except
per 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

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 Reading