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PHX Energy Services Corp PHXHF


Primary Symbol: T.PHX

PHX Energy Services Corp. is a Canada-based oil and natural gas services company. The Company, through its directional drilling subsidiary entities, provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada and the United States. It also rents performance drilling motors and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, United States, Albania, and the Middle East regions. It also develops and manufactures technologies that are made available for internal operational use. The Company operates in two operating segments on a geographical basis throughout the Gulf Coast, Northeast and Rocky Mountain regions of the United States and throughout the Western Canadian Sedimentary Basin. Its technologies include PowerDrive Orbit RSS, Atlas Motors, Performance Drilling Motors, Velocity Real-Time System, Echo, 360 RWD System, and North Seeking Gyro.


TSX:PHX - Post by User

Post by energeeon Aug 08, 2024 12:08pm
146 Views
Post# 36169615

Good Q2 Results Share Buybacks and Dividend Continues

Good Q2 Results Share Buybacks and Dividend Continues
Just bought some of this.  Like the CEO share purchases, revenue growth, earnings, balance sheet, technology and sales locations in CDA, TX (Permian), OK. 

Strong US results even though the M&A activity there is likely resulting in fewer clients through consolidation. Could be some pricing pressure on day rates going forward. Growing CDN market share and revenues.

Good cash position, essentially debt free with liabilities that show certain normal lease obligations etc.  Dividend yield is ~8% now.  This Company could be a good target  for another large player in the space.
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