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STEP Energy Services Ltd. (T:STEP)

Business Focus: Oil Related Services

Sector:  Energy Industry:  Oil Related Services and Equipment
Company Contact
Address: Bow Valley Square II
1200, 205-5th Ave SW
Tel: N/A
IR: See website
Key People
Stephen Glanville
President, Chief Executive Officer, Executive Director
Klaas Siert Deemter
Chief Financial Officer
Rory Thompson
Chief Operating Officer
Joshua Kane
Vice-President - Legal, General Counsel
Michael Edward Burvill
Vice President - Business Development and Innovation
Business Overview
STEP Energy Services Ltd. is a Canada-based energy services company. The Company is engaged in providing coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. It delivers completion and stimulation services to exploration and production (E&P) companies in Canada and the United States. In Canada, the Company delivers coiled tubing and fracturing services in the Western Canadian Sedimentary Basin. The Company's Canadian services are focused on the Western Canadian Sedimentary Basin (WCSB), while in the United States, its fracturing and coiled tubing services are focused on the Permian and Eagle Ford in Texas, the Uinta-Piceance and Niobrara-DJ basins in Colorado and the Bakken in North Dakota.
Financial Overview
For the nine months ended 30 September 2023, STEP Energy Services Ltd revenues increased 2% to C$750.7M. Net income decreased 29% to C$55.7M. Revenues reflect Canadian Operations segment increase of 3% to C$468M, Canadian Operations segment increase of 3% to C$468M. Net income was offset by Impairment reversal of property and equi decrease from C$32.7M (income) to C$0K, Employee costs increase from C$5.7M to C$20.3M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $429.68M as of Sep 30, 2023
Annual revenue (TTM): $1,002M as of Sep 30, 2023
EBITDA (TTM): $189.06M as of Sep 30, 2023
Net annual income (TTM): $72.36M as of Sep 30, 2023
Free cash flow (TTM): $65.94M as of Sep 30, 2023
Net Debt Last Fiscal Year: $115.02M as of Sep 30, 2023
Shares outstanding: 72,233,064 as of Oct 23, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization