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Essential Energy Services Announces Election of Board of Directors

May 17, 2022 via Globenewswire Tagged With: TSX:ESN

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

Essential Energy Services Announces First Quarter Financial Results

May 12, 2022 via Globenewswire Tagged With: TSX:ESN

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

Essential Energy Services Announces Fourth Quarter and Year End Financial Results and Its 2022 Capital Budget

March 10, 2022 via Globenewswire Tagged With: TSX:ESN

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 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

Essential Energy Services Announces Normal Course Issuer Bid

December 17, 2021 via Globenewswire Tagged With: TSX:ESN

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

November 26, 2021 via Globenewswire Tagged With: TSX:ESN

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

November 9, 2021 via Globenewswire Tagged With: TSX:ESN

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

November 3, 2021 via Globenewswire Tagged With: TSX:ESN

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

Essential Energy Services Announces Second Quarter Financial Results

August 5, 2021 via Globenewswire Tagged With: TSX:ESN

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

Essential Energy Services Announces Fourth Quarter and Year End Financial Results and Its 2021 Capital Budget

March 3, 2021 via Globenewswire Tagged With: CA29669R1010, TSX:ESN

CALGARY, Alberta, March 03, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces fourth quarter and year end results and its 2021 capital budget.

SELECTED INFORMATION

(in thousands of dollars except
per 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 margin⁽ⁱ⁾   5,810     3,016     20,418     26,055     32,681   Gross margin %   24%     11%     21%     18%     17%   EBITDAS⁽¹â¾â½â±â¾   4,105     1,729     13,530     16,975     19,719   EBITDAS %   17%     6%     14%     12%     10%   Net loss⁽ⁱ⁾⁽ⁱⁱ⁾  … Continue Reading

Essential Energy Services Announces Director Resignation

January 26, 2021 via Globenewswire Tagged With: CA29669R1010, TSX:ESN

CALGARY, Alberta, Jan. 26, 2021 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) 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

November 9, 2020 via Globenewswire Tagged With: CA29669R1010, TSX:ESN

CALGARY, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces third quarter 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, 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

August 10, 2020 via Globenewswire Tagged With: CA29669R1010, TSX:ESN

CALGARY, Alberta, Aug. 10, 2020 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) 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 – basic and diluted   (0.04 )   … Continue Reading

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