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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Enquest Energy Ser Corp | TSXV:ENQ | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
ENQUEST ENERGY SERVICES CORP. (TSX VENTURE:ENQ) ("EnQuest" or the "Corporation") Recent industry reports and numerous announcements by industry participants indicate there will be a significant reduction in the capital spent on drilling programs in North America for 2009, in large part in response to market volatility and the collapse of the prices for crude oil and natural gas. EnQuest is currently experiencing strong utilization rates and maintaining its market share in respect of its US operations. It has experienced a slowdown with respect to its Canadian operations. The Canadian revenue has, in the past, accounted for approximately 10% of EnQuest revenue. The extent of the impact from the slow down expected in the United States is not known at this time. EnQuest believes that its broad geographic scope, technical capabilities, diverse employee base and equipment configuration provide a strong foundation for its ability to adapt to the changing economic environment and may provide some opportunities in the US market. In response to the current economic environment, EnQuest has struck a committee comprised of all of the independent directors to consider a number of strategies to strengthen the Corporation's position going forward, with a particular focus on debt reduction and sale of assets. The Committee may consider retaining advisors, including financial advisors, to provide guidance to the Committee in making its recommendations to the Board. EnQuest provides energy services throughout North America in the following primary business segments: transportation services, rig moving, crane services, specialized heavy hauling, oilfield equipment rentals, retailer of new and refurbished Oil Country Tubular goods and pipe storage. Forward Looking Statements Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
1 Year Enquest Energy Ser Corp Chart |
1 Month Enquest Energy Ser Corp Chart |
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