Total reported 4Q15 EBITDAS of $7 mm, below our estimate of $9 mm due to weaker than expected utilization. We believe the Company is parking additional equipment in light of weak pricing. This is a prudent decision to manage equipment quality. The Company’s liquidity position remains robust with an undrawn $65 mm credit facility and $14 mm ($0.47/share) in cash and marketable securities exiting 4Q15. We remain optimistic that acquisitions will occur if oilfield activity remains weak through 2016 ....
11 Mar 2016
Reports 4Q15 Results
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Reports 4Q15 Results
Total Energy Services Inc. (0S9F:LON) | 0 0 0.0% | Mkt Cap: 638.1m
- Published:
11 Mar 2016 -
Author:
Ian B. Gillies -
Pages:
6
Total reported 4Q15 EBITDAS of $7 mm, below our estimate of $9 mm due to weaker than expected utilization. We believe the Company is parking additional equipment in light of weak pricing. This is a prudent decision to manage equipment quality. The Company’s liquidity position remains robust with an undrawn $65 mm credit facility and $14 mm ($0.47/share) in cash and marketable securities exiting 4Q15. We remain optimistic that acquisitions will occur if oilfield activity remains weak through 2016 ....