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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
Tel: 1-403-2692800
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 nine months ended 30 September 2020, CESEnergy Solutions Corp revenues decreased 30% to C$675.2M.Net loss totaled C$263.4M vs. income of C$18.2M. Revenuesreflect United States segment decrease of 33% to C$463.6M,Canada segment decrease of 22% to C$211.6M. Net lossreflects Financial derivative loss (gain) increase fromC$17K to C$240K (expense), Depreciation in SGA increase of3% to C$6.5M (expense).
Employees: 1,993 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $990.79M as of Sep 30, 2020
EBITDA (TTM): $90.48M as of Sep 30, 2020
Net annual income (TTM): -$251.45M as of Sep 30, 2020
Free cash flow (TTM): $142.12M as of Sep 30, 2020
Net Debt Last Fiscal Year: $292.12M as of Sep 30, 2020
Shares outstanding: 258,204,960 as of Feb 19, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization