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Trican Well Service Ltd TOLWF


Primary Symbol: T.TCW

Energy Oil & Gas Equipment & Services
Trican Well Service Ltd. is a Canada-based oilfield services company. The Company supplies oil and natural gas well servicing equipment and solutions to its customers through the drilling, completion and production cycles. Its services include hydraulic fracturing, cementing, acidizing, coiled tubing and technical solutions. Its cementing solutions combine equipment, quality cement blends and ongoing research and development. Cementing solutions include pre-flushes and spacers, surface cementing, intermediate cementing, liner cementing, cement plugs and others. The coiled tubing includes milling, coiled tubing fracturing, E-Coil and others. It provides equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Its milling services include fracturing plugs, fracturing ports, stage tool/debris sub and others.


TSX:TCW - Post by User

Trican Well Service Ltd > Dennis da Silva - BNN - TOP PICK
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Post by Possibleidiot01on Apr 26, 2023 2:29pm
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Post# 35415170

Dennis da Silva - BNN - TOP PICK

Dennis da Silva - BNN - TOP PICK
TOP PICK

Trican Well Service Ltd.(TCW-T)

26/04/2023


 
 

His theme today is leverage, nice yield, and ability to grow cash. No debt. Trades at 2.5x EBITDA multiple, down from its historic 5x. Services are picking up. Advantaged on the gas side, purest publicly listed frack play in Canada. First Nations issues resolved. LNG Canada could mean a 10% rig pickup. Ultra-clean balance sheet. Nice yield of 1.25%.

(Analysts’ price target is $5.53)
oil / gas field services
 
N/A
Owned

Trican Well Service (TCW TSX)

 

Last purchased early April at $3.00.

The only publicly traded pure-play frack services provider in Canada. Offers leverage to increases in Canadian drilling activity and/or improving margins. Stock is trading at half its historic multiple despite strong industry fundamentals, margins that have increased 50 per cent since 2021, a five per cent yield and a net cash position. Near-term activity increases from NE B.C. due to First Nations resolution and longer-term, think of services needed once LNG Canada is running in 2025/26. Downside protection from having no debt.


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