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CES Energy Solutions Corp. (T:CEU)

Business Focus: Oil Related Services and Equipment

Sector:  Energy Industry:  Oil Related Services and Equipment
 
See Regulatory Filings on SEDAR
Company Contact
Address: 332 6th Avenue SW, Suite 1400
CALGARY AB T2P 0B2
Tel: 1-403-2692800
Website: www.cesenergysolutions.com
IR: See website
Key People
Kyle D. Kitagawa
Independent Chairman of the Board
Thomas J. Simons
President, Chief Executive Officer, Non-Independent Director
Anthony Michael Aulicino
Chief Financial Officer
Richard Lee Baxter
President, US Drilling Fluids
Vernon James Disney
President, US Production Chemicals
Kenneth E. Zinger
Chief Operating Officer and President, Canadian Operations
James Murray Pasieka
Corporate Secretary
   
Business Overview
CES Energy Solutions Corp, formerly Canadian Energy Services & Technology Corp, is a Canada-based provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. The Company offers total solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and through to the pipeline and midstream market. Its solutions include corrosion inhibitors, demulsifiers, hydrogen sulfide scavengers, paraffin control products, surfactants, scale inhibitors, biocides and other specialty products. It operates in the Western Canadian Sedimentary Basin and in several basins throughout the United States. In Canada, the Company operates under the trade names Canadian Energy Services, PureChem Services, Sialco Materials Ltd, Clear Environmental Solutions and EQUAL Transport. In the United States, the Company operates under the trade names AES Drilling Fluids, AES Frac Fluids, Superior Weighting Products and JACAM Chemicals.
Financial Overview
For the six months ended 30 June 2020, CES Energy Solutions Corp revenues decreased 21% to C$508.9M. Net loss totaled C$250.6M vs. income of C$10.6M. Revenues reflect United States segment decrease of 24% to C$349.8M, Canada segment decrease of 14% to C$159.2M. Net loss reflects Depreciation in SGA increase of 6% to C$4.4M (expense), Foreign exchange gain decrease from C$145K (income) to C$103K (expense).
Employees: 1,993 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $1,140M as of Jun 30, 2020
EBITDA (TTM): $121.17M as of Jun 30, 2020
Net annual income (TTM): -$231.08M as of Jun 30, 2020
Free cash flow (TTM): $124.82M as of Jun 30, 2020
Net Debt Last Fiscal Year: $327.48M as of Jun 30, 2020
Shares outstanding: 264,883,808 as of Jul 10, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization