Essential Energy Services Ltd 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.

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Essential Energy Services Ltd > Only option here is to hope for a take over.

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Comment by MiguelSanchez1on Dec 17, 2020 8:12am

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Post# 32126364

RE:Only option here is to hope for a take over.

Do you guys even realize there is a 7-8million change of control provision for management? Even if a takeover does happen, it's very possible it's a no premium as at this market cap any buyer would already be paying a 20+% premium just to buy out greedy old management.

Plus I am somewhat certain they cannot institute an NCIB under the conditions of their current borrowing facility. This is the most textbook definition of a value trap stock I have ever seen

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