Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PHX ENERGY SERVICES CORP. We currently have 22 research reports from 1 professional analysts.
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Research reports on
PHX ENERGY SERVICES CORP
PHX ENERGY SERVICES CORP
ANNOUNCES COMMERCIALIZATION OF EDR PRODUCT LINE
06 Sep 16
Impact: Positive. PHX has announced that it has commercially released its DataStream EDR product line in Canada. The Company expects to be operating on 15 rigs in Canada by the end of 3Q16e and will aim to double capacity by early 2017e. This is a positive step for PHX in that it now has another business segment to which it can deploy capital. Commercialization is a positive step for PHX's EDR business, but it is still in its infancy and the Company will be competing against a much larger Company in Pason Systems Inc.
Announces Bought Deal and Concurrent Private Placement Totaling $24.8 mm
09 Jun 16
PHX has announced a bought deal totaling gross proceeds of $23.3 mm (8.625 mm shares). The issuance price was $2.70/share, which is a 5.6% discount to the June 8, 2016 closing price of $2.86/share. Concurrent with the bought deal, there will be a private placement of 0.55 mm shares to officers, directors, and employees and their associates, for proceeds of $1.5 mm.
Reports 1Q16 Financials
05 May 16
PHX reported EBITDAS of $4 mm, adjusted for one-time costs, which was an increase from $2 mm in 1Q15 and in line with our estimate. This is impressive in the context of the Canadian rig counts being down 45% y/y and U.S. rig count falling 61% over the same period. We continue to view PHX as an excellent example of cost reduction and capital discipline, which allows it to remain profitable despite inordinately challenging market conditions. We are forecasting PHX to generate FCF of $13 mm in 2016e and $25 mm in 2017, which alludes to further debt reductions.
1Q16e Preview and Commodity Update – All Is Quiet on the Western Front
13 Apr 16
We are updating our oilfield industry forecasts post the release of FirstEnergy’s new commodity price forecast for crude oil and natural gas on March 24, 2016. We have updated our 2016e Canadian well count/drilling days forecast to 3,209/37,335 from 3,800/43,325. In 2017e, we have left our forecast unchanged at 6,200 wells/70,200 days. In the U.S., our 2016e rig count forecast is now 482 (prior: 610) and 2017e is 675 (prior: 775). Data for 1Q16e came in weaker than our prior forecast anticipated, and we have lowered our estimates across our coverage universe accordingly. We are currently below 1Q16 consensus for 15 of 18 companies in our coverage universe, but the percentages are misleading given the absolute size of EBITDAS being earned this quarter.
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.
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)
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.