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| TOP PICK | 0.940 | Norman Levine | 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. | 2008-12-30 | |
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| TOP PICK | 1.830 | Norman Levine | 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%. | 2008-09-24 | |
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| Comment | 1.560 | Michael Simpson, CFA | 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). | 2008-09-19 | |
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| DON'T BUY | 2.290 | Michael Simpson, CFA | 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). | 2008-08-13 | |
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| DON'T BUY | 2.880 | Ben Cheng | Not a fan of oil/gas services today. Have now moved to and on-cash distribution, but at the end of the day there is still a tremendous amount of pressure. Cost of capital is quite high and with low gas prices, there are still not robust enough cost structures for gas producers. Could be a potential distribution cut. | 2008-01-21 | |
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| BUY | 5.160 | Bruce Campbell | This is an “after drilling” services. Convinced the distribution is going to be maintained. Distribution is $1 and they are only paying 65% of EBITDA. A bit of an orphan. | 2007-02-05 | |
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| HOLD | 5.060 | Bruce Campbell | Was spun out of Avenir (AVF.UN-T). Operationally fine, pays $1 dividend and is being tax loss sold. Basically an orphan. No analysts cover it. 20% yield. Will probably have a bump after tax loss selling (Dec 22/06). Thinks it will be a takeover. | 2006-12-21 | |
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| TOP PICK | 7.760 | Jason Zandberg | Provide truck and rig based services to the oil/gas industry. Not dependent on new drilling activity. Well diversified geographically in western Canada. Trading at about 12.5% yield. Can see this at above average growth relative to their peers. | 2006-09-07 | |
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| BUY | 8.370 | Bruce Campbell | Almost 12% yield. Sees them making further acquisitions. Very good value. | 2006-08-25 | |
Experts that have talked about Essential Energy Services
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