Essential Energy Services Ltd EEYUF

Primary Symbol: T.ESN

Energy Oil & Gas Equipment & Services

Essential Energy Services Ltd. is a Canada-based company that provides oilfield services to oil and natural gas producers, primarily in western Canada. The Company offers completion, production and well site restoration services to a diverse customer base. Its Essential Coil Well Service (ECWS) segment provides completion and production services throughout western Canada. The ECWS fleet is comprised of coiled tubing rigs, fluid pumpers, nitrogen pumpers and ancillary equipment. Its Tryton segment provides a range of downhole tools and rental services across the WCSB and in the United States for completion, production and wellsite restoration of oil and natural gas wells. Its services are offered with coiled tubing, fluid and nitrogen pumping, and the sale and rental of downhole tools and equipment. Its coiled tubing fleet is comprised of generation I, II, III and IV coiled tubing rigs, which are differentiated by their capability to service wells with varying depths and well pressures.

TSX:ESN - Post by User

Essential Energy Services Ltd

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Post by LuckyLuchon May 29, 2017 7:29pm

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Post# 26298036

Q2.early but let's look ahead

ESN posted revs of aboot 15M for Q2 in 2016 and we think it plausibe to see 30M in Q2 2017 based mostly on a solid April rig count, increasing rig counts in the SCOOP-STACK-PERMIAN which bode wel for the tool rental biz and a snap back in Canadian rig counts in June. Tool rental biz is surging in both mkts with margins of 27% vs. 17%-ish for coiled tubing. If the above scenario plays out then we could see EBITDA of 2-3M for Q2. Strongly beleive in 2017 we can see 25-30M of EBITDA and 50M for 2018. ESN is still moronically cheap, if HWO-High Arctic can acuire this stock for 2 Cad or less then it is an absolute steal as the above scenario implies a price of 3-3.50 Cad in 2018.

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