Last C$0.42 CAD
Change Today -0.04 / -8.70%
Volume 427.0K
FFM On Other Exchanges
As of 3:50 PM 09/15/14 All times are local (Market data is delayed by at least 15 minutes).

formation fluid management i (FFM) Snapshot

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07/2/14 - C$0.63
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11/25/13 - C$0.12
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formation fluid management i (FFM) Details

Formation Fluid Management Inc., through its subsidiary, Formation Fluid Technologies Inc., provides water filtration services to the oil and gas industry. The company, through its produced water processing plant system, treats oilfield produced water to reuse and recycle water. The company was formerly known as Dobhai Ventures Inc. and changed its name to Formation Fluid Management Inc. in September 2010. Formation Fluid Management Inc. is headquartered in Sylvan Lake, Canada.

formation fluid management i (FFM) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$128.7K
Chief Financial Officer, Secretary, Executive...
Total Annual Compensation: C$90.0K
Compensation as of Fiscal Year 2013.

formation fluid management i (FFM) Key Developments

Formation Fluid Management Inc. Announces Consolidated Earnings Results for the Years Ended June 30, 2014

Formation Fluid Management Inc. announced consolidated earnings results for the years ended June 30, 2014. For the year, the company reported revenues of $3,751,430 against $549,470 a year ago. EBITDA was $1,218,745 or $0.03 diluted per share against LBITDA of $533,666 or $0.01 diluted per share a year ago. Funds from operations were $1,405,687 or $0.03 diluted per share against negative funds from operations of $413,546 or $0.01 diluted per share a year ago. Net earnings were $1,015,584 against net loss of $765,210 a year ago. Diluted per share income was $0.02 against LPS of $0.02 a year ago. Additions of property & equipment were $346,577 against $28,048 a year ago. The capital expenditures in 2014 were incurred to commence construction of additional water processing plants in the fourth quarter to meet expected customer demand. Cash provided by operations was $199,119 against cash used in operations of $41,084 a year ago.

Formation Fluid Management Inc. Announces Board Changes

Formation Fluid Management Inc. announced the appointment of Alan Archibald as a director of the company. Mr. Archibald is a Professional Engineer and is the CEO of Northpoint Resources Ltd. Alan has worked in the oil and gas sector for 32 years both with large major public companies and small private companies. Mr. Archibald is a past chair of the Petroleum Technology Alliance of Canada (PTAC) and has also served on the board of Canadian Energy Services LP, High Arctic Energy Services, MEG Energy, Strategem Energy Corp, Kerogen Petroleum Ltd, and currently is lead director for Mullen Group Ltd. With the appointment of Mr. Archibald, the company's Board will have a majority of independent directors. Chance Radford will be stepping down as a director of the company in order to achieve this goal. Mr. Radford will remain in his position with the company as the Chief Operating Officer, continuing with his valuable contributions to the company's success and growth.

Formation Fluid Management Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2014; Provides Earnings Guidance for the Fourth Quarter and Year Ending on June 30, 2014

Formation Fluid Management Inc. reported earnings results for the third quarter ended March 31, 2014. For the quarter, the company reported operating profit of $675,258 on revenues of $2.58 million. The company did not generate any revenues in the third quarter itself due to seasonal winter shutdown of operations, however commenced operations earlier than previously expected in April on another water remediation contract. The company anticipates profitable operations for the fourth quarter of fiscal 2014 as well as for the full year ending on June 30, 2014.


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