RE:Bough more last few daysOne of several Cad OFS co's with great balance sheet but no one gives a F. Pull up the TSX quote page and day after day...8 of the top 10 quote requests are for marijuana stocks. Would have thought by now that Wilks bro's would have pushed the co into a merger deal. I own a block of 400k @ .89, not going arywhere.
What OFS execs urgently need to do is accelerate the pace of m+a deals. Still way 2 much equip chasing too few $. Some deals I think make sense...
Trican should take out Essential Energy Svcs, become the #1 coilted tubing operator...buy far and sell off ESN's tool rental div to either NOV(like they did theirs in 2016) or to Total Energy Svcs or High Arctic.
Calfrac should spilt into 2 companies...Canadian and a US/other co
Totoal Energy should rengage with Strad Energy and finally buy them out.
High Arctic should buy out CWC. Would become, by far the largest service rig company and add WCSB drilling and CT.
WRG should at the very least sell off its service rig division to either PD, ESI, CWC or HWO.
CET should either sell out to Wilks or a private equity firm(Arc or Brookfield)
These are all make sense which is the reason most wont happen. It would put a lot of low talent execs in the unemployment line.
BargainHunter88 wrote: Very low volumes... had to buy at limit all the time.
Executive teams owning large pieces of the company is a good sign.
This thing is so incredibly cheap, at 3.5X EV/EBITDA with no debt.
Further increase in EBITDA, Multiple expansion, and buyout are all likley.