Essential Energy Services Ltd. (ESN.TO) Buy,…

Essential Energy Services Ltd. (ESN.TO)

0.40

-0.00 (0.00%)

as of Nov 15, 2023, 8:24:10 pm Market Open.

56 watching

BUY

Services for the oil industry. Have a takeover merger opportunity, which will help. Good balance sheet. BV around $2.28.

BUY ON WEAKNESS

Nuts and bolts energy services for the oil industry. Great company. Strong management and have been executing well. Would step in at the $1.50 range.

WAIT

Likes the company. Branching out into Colombia and moved a number of its service vehicles down. Just announced a merger with Technicoil Corp and will be the surviving company and operator. This will be accretive to their earnings. You are in a period now where you have arbitrage and people that owned Technicoil will be selling and the stock will go nowhere for a little while. This is also the shoulder season when drilling tapers off.

TOP PICK

Energy Services that has gone from being 80% gas oriented to 80% oil. Expanded from being just Alberta to BC and Sask as well. Just set up an operation in Colombia, where there is big demand and a lack of equipment. Clean balance sheet and no debt.

COMMENT

Not a bad company but not his preferred name. Likes companies that are doing directional drilling and doing the highest level of technology.

TOP PICK

Oil/gas services company. Clean balance sheet. Has been making and will continue to make small acquisitions. Focuses about 80% oil. Beginning operations in Colombia, which is a good market for oil exploration.

TOP PICK

Believes there is a lot of opportunity in the mid-cap oil services side. A lot of them are increasing their revenue year-over-year. Q2 revenues were almost double Q2 2009 revenues. No debt. Stock is not started to move yet.

BUY

It used to be just oil and now it is oil and gas. It used to be just Alberta and now it is Saskatchewan and BC. Severely undervalued. No debt. The market isn’t rewarding it yet.

TOP PICK

Natural gas service company, based in Alberta. Natural gas price has come back some and they are reducing the royalties next year so it should start seeing the benefit of increased drilling over the next year. No debt. Talking about expanding into Colombia with some of their customers.

BUY

Alberta-based oil and gas services company. It’s a trust on the way to become a corporation. Eliminated its dividend. They will be a logical buyer when assets become available. Double in the next year or so.

BUY

Oil service company. Excellent balance sheet. Long-term, a great company. Near-term, earnings are not going to be what they wear because of reduced drilling. At some point it could reduce or eliminate its payout. They would then use the cash flow to make good acquisitions at bargain prices.

TOP PICK

Oil/gas service Company in Western Canada. Selling for less than half of book value. Quite profitable. Clean balance sheet. Wouldn't be surprised if the company cut or eliminated its distribution to make acquisitions of the competition.

TOP PICK

This was a merger of Essential Energy and Builders Energy. On July 2 they sold their transport division, which allowed them to pay down all of their debt. Specialize in well completions but do not do the drilling. Stock sells for way below book value. Earnings are going up. Cut back their payout so distributions will be sustainable when they are not a trust. Yields about 10%.

COMMENT

Collection of different energy service companies. Sold their trucking division this summer. Rest of their assets includes some drilling rigs and rental equipment. Prefers other names in this sector such as Cathedral Energy Services (CET.UN-T).

DON'T BUY

Because of their balance sheet, they were forced to sell their trucking division so they are now a much smaller oil/gas service company. Would prefer something like Cathedral Energy Services (CET.UN-T).

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Essential Energy Services Ltd. (ESN.TO)