Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CANADIAN ENERGY SERVICES & T. We currently have 22 research reports from 1 professional analysts.
|13Apr17 21:05||MKW||Canadian Energy Services & Technology Corp. Announces Cash Dividend and Provides Q1 Conference Call Details|
|17Mar17 21:30||MKW||Canadian Energy Services & Technology Corp. Announces Termination of Previously Announced Tender Offer and Concurrent Proposed Note Offering|
|10Mar17 14:03||MKW||Canadian Energy Services & Technology Corp. Announces Proposed Offering of $300 Million Senior Unsecured Notes and Tender Offer for Existing 7.375% Notes|
|09Mar17 21:01||MKW||Canadian Energy Services & Technology Corp. Announces Results for the Fourth Quarter and the Year Ended December 31, 2016 and Declares Cash Dividend|
|09Feb17 22:19||MKW||Canadian Energy Services & Technology Corp. Announces Cash Dividend, JACAM Management Changes and Provides Q4 Conference Call Details|
|12Jan17 21:25||MKW||Canadian Energy Services & Technology Corp. Announces Cash Dividend|
|29Mar16 22:02||MKW||Canadian Energy Services & Technology Corp. Announces Amendments to Its Senior Credit Facility|
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CANADIAN ENERGY SERVICES & T
CANADIAN ENERGY SERVICES & T
Announces 2Q16 Results; PureChem Increasing Market Share
15 Aug 16
CEU posted 2Q16 revenue of $98 mm, in line with our forecast of $102 mm. The Company generated EBITDAS of -$1 mm, in line with our expectation. CEU has increased its Drilling Fluids market share in the U.S. to 11% and the acquisition of Catalyst should improve the Company’s Production Chemicals U.S. market share. However, competitive pricing is likely to continue until there is a recovery in activity. We are increasing our 2017e EBITDAS estimate to $94 mm from $89 mm driven by an upward revision to our revenue assumption for the year from Canadian production chemicals and an increase in U.S. Drilling Fluids market share.
Announces Acquisition of U.S. Production and Specialty Chemicals Business
03 Aug 16
CEU has announced it has acquired Catalyst Oilfield Services, a private West Texas based Production and Specialty Chemicals company, with exposure to the Permian, Barnett and Eagle Ford. We believe the transaction price was in the C$75 mm range, and that annual EBITDAS contribution will be $5 mm to $10 mm. The midpoint EV/EBITDAS transaction metric is 10.0x, whereas CEU was trading at 14.2x 2017e EV/EBITDAS prior to this announcement. We have increased our 2016e EBITDAS by 4.5% to $34 mm and 2017e EBITDAS by 9.0% to $89 mm.
ANNOUNCES ACQUISITION OF U.S. PRODUCTION AND SPECIALTY CHEMICALS BUSINESS
01 Aug 16
Impact: Neutral, as no transaction price or financial metrics were provided. As such, it is challenging to assess the transaction impact, but it is strategically aligned with the Company's previously stated goal of expanding its production chemicals presence in the Permian.
16 May 16
CEU expects to realize $20 mm of annualized cost savings through restructuring that occurred in 1Q16. CEU has shuttered eight of eleven mud facilities in the U.S. in an effort to reduce costs. The Company will now be focusing its drilling fluids business on the Permian, Eagle Ford, Utica and SCOOP/Stack in Oklahoma. The U.S. drilling fluids business generated negative margins in 1Q16. We have lowered 2016e EBITDAS to $35 mm (prior: $37 mm) and 2017e EBITDAS to $71 mm (prior: $74 mm).
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.