Wed, Sep. 28, 2:38 PM
- The Canadian government's approval of the Pacific Northwest LNG project is good news for oilfield service companies that operate in Canada - if the project actually is built - says RBC Capital analyst Kurt Hallead.
- The companies would include Precision Drilling (PDS +9.8%), Trican Well Service (OTCPK:TOLWF +6.7%), Calfrac Well Services (OTCPK:CFWFF) and Western Energy Service (OTC:WEEEF), as "increased takeaway capacity for Canadian natural gas would be a positive catalyst for service activity levels," according to Hallead.
- Andrew Bradford at Raymond James thinks accommodations providers such as Black Diamond (BDE +1.5%) would benefit most, while also highlighting fracturing companies including Calfrac, Trican and Canyon Services (OTC:CYSVF), as well as contract drilling providers Precision, Trinidad and Ensign Energy Services (OTCPK:ESVIF).
Tue, Aug. 9, 9:26 AM
Mon, May 9, 9:28 AM
- Ensign Energy Services (OTCPK:ESVIF): Q1 EPS of -$0.10
- Revenue of $258.5M (-42.5% Y/Y)
Jul. 20, 2011, 11:30 AM
Rowan (RDC +3%) is selling its land drilling business to Ensign Energy Services (ESVIF.PK +1.4%) in a deal worth $510M, plus ~$30M in working capital. Rowan says the sale is part of its strategy to shed non-core businesses, and proceeds will be invested in offshore drilling. (PR)| Jul. 20, 2011, 11:30 AM