Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TOTAL ENERGY SERVICES INC. We currently have 19 research reports from 1 professional analysts.
|27Mar17 23:29||MKW||Total Energy Services Inc. Announces Acquisition of Shares of Savanna Energy Services Corp. on the TSX|
|27Mar17 12:00||MKW||Total Energy Services Inc. Provides Update Regarding its Acquisition of Savanna Energy Services Corp.|
|25Mar17 07:27||MKW||Total Energy Services Inc. Announces Take-Up of Savanna Common Shares and Extension of Period for Tender of Additional Savanna Common Shares under its Offer|
|23Mar17 16:02||MKW||Total Energy Reaffirms Savanna Shareholder Support For Its Offer|
|22Mar17 21:04||MKW||Total Energy Services Inc. Announces Acquisition of Shares of Savanna Energy Services Corp. on the TSX|
|21Mar17 21:04||MKW||Total Energy Services Inc. Announces Acquisition of Shares of Savanna Energy Services Corp. on the TSX|
|21Mar17 12:00||MKW||Total Energy Reaffirms Reasons Savanna Shareholders Should Tender to its Offer|
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TOTAL ENERGY SERVICES INC
TOTAL ENERGY SERVICES INC
2Q16 Results Include Large Compression Contract Award
12 Aug 16
Total reported 2Q16 EBITDAS of $2 mm, which was in line with our estimate. Revenue of $44 mm far exceeded our forecast of $32 mm, with EBITDAS being negatively impacted by a lower-than-expected gain on sale of PP&E. We believe the outlook has improved for the Compression and Process Services division due to a $21.3 mm contract win. The Rentals division market share growth strategy appears to be working through expected higher revenue and margins. We continue to believe that Total will use its strong balance sheet to expand its operational footprint.
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.
Reports 4Q15 Results
11 Mar 16
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 2016e. Backlog in Compression and Process Services exiting the quarters was $49 mm, modestly lower than 3Q15 when backlog was $51 mm. Total has included an $8.1 mm order that has supposedly been cancelled, but no cancellation fee has been paid. The Company intends to litigate this issue. Post 4Q15, Total received a meaningful compression order from Australia. The amount was not disclosed.
Energy Services 4Q15e Preview and Updating Activity Outlook – Buckle Up
09 Feb 16
In conjunction with the new oil price forecast released by FirstEnergy on February 8, 2016, we have updated our 2016e Canadian well count/drilling days forecast to 3,800/43,325 from 4,950/54,853. In 2017e, we are now forecasting wells/drilling days of 6,200/70,200 from 7,900/86,600. In the U.S., our 2016e rig count forecast is now 610 (prior: 763) and 2017e is 775 (prior: 1,063).
27 Mar 17
Elecosoft* (ELCO): Steadily building profits (CORP) | Bioventix* (BVXP): Interim results lead to upgrades (CORP) | Hurricane Energy (HUR): Halifax discovery (BUY) | KBT Business Technology* (KBT): interims and contract win (CORP) | Independent Oil & Gas* (IOG): Licence updates (CORP)
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)
GMP FirstEnergy ― UK Energy morning research package
27 Mar 17
Amerisur Resources (AMER LN)6; HOLD, £0.30: Reduced 2017e production outlook and year-end 2016 reserves | Condor Petroleum (CPI CN)8 ; BUY, C$3.50: Reports 4Q16 results and remains on track for first production from Turkey in mid-2017e | Hurricane Energy (HUR LN) (not covered): Halifax well update in the UK | Cairn Energy (CNE LN): BUY, £2.90: Update on the VR-1 well in Senegal by Far (FAR AU) (Not covered) | Royal Dutch Shell (RDSA/B LN) (not covered): Divestment of Gabonese assets
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.