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.
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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).
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
19 Jan 17
Aggregated Micro Power* (AMPH): Funding for first peaking power plant project (CORP) | The Mission Marketing Group* (TMMG): Positive trading update (CORP) | Cello (CLL): Increasingly backed by, and leveraging, technology (BUY) | 4imprint (FOUR): Growth backed by strong cash flow continues (BUY) | Allergy Therapeutics (AGY): Positive trading update and market share gains drive upgrades (BUY) | Shanta Gold (SHG): Q4 operating results (BUY) | Sound Energy (SOU): Tendrara extended well test result (BUY) | Revolution Bars (RBG): Price target increase (BUY)