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STEP Energy Services Ltd. (T:STEP)

Business Focus: Oil Related Services

Sector:  Energy Industry:  Oil Related Services and Equipment
See Regulatory Filings on SEDAR
Company Contact
Address: Bow Valley Square II
1200, 205-5th Ave SW
Tel: N/A
IR: See website
Key People
Douglas C. Freel
Chairman of the Board
Regan Davis
President, Chief Executive Officer, Director
Michael G. Kelly
Chief Financial Officer, Executive Vice President
Brock Duhon
President, U.S. Operations
Michael Edward Burvill
Vice President - Business Development and Innovation
Business Overview
STEP Energy Services Ltd. is a Canada-based oilfield service company. The Company is engaged in providing stand-alone and fully integrated fracturing, fluid and nitrogen (N2) pumping, and coiled tubing 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. In the United States, the Company provides coiled tubing and fracturing services in the Permian Basin and Eagle Ford shale play in Texas along with coiled tubing services in the Bakken Shale Play in North Dakota and the Uinta-Piceance and Niobrara-DJ Basin in Utah and Colorado, respectively. It is also operating eight coil units in the United States and eight coil units in Canada.
Financial Overview
For the three months ended 31 March 2022, STEP Energy Services Ltd revenues increased 60% to C$219.5M. Net income totaled C$9.2M vs. loss of C$7.9M. Revenues reflect U.S. Operations segment increase from C$27.5M to C$72.7M, Canadian Operations segment increase of 34% to C$146.8M, U.S. Operations segment increase from C$27.5M to C$72.7M, Canadian Operations segment increase of 34% to C$146.8M.
Reporting Currency: Canadian Dollars
Enterprise value: $486.73M as of Mar 31, 2022
Annual revenue (TTM): $619.04M as of Mar 31, 2022
EBITDA (TTM): $72.56M as of Mar 31, 2022
Net annual income (TTM): -$11.01M as of Mar 31, 2022
Free cash flow (TTM): -$11.01M as of Mar 31, 2022
Net Debt Last Fiscal Year: $231.82M as of Mar 31, 2022
Shares outstanding: 68,204,590 as of Apr 27, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization