Last C$0.25 CAD
Change Today -0.01 / -3.92%
Volume 437.9K
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As of 3:59 PM 12/22/14 All times are local (Market data is delayed by at least 15 minutes).

gasfrac energy services inc (GFS) Snapshot

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01/3/14 - C$2.16
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gasfrac energy services inc (GFS) Details

GASFRAC Energy Services Inc., an oil and gas service company, provides liquid petroleum gas fracturing services to oil and natural gas exploration and production companies in Canada and the United States. Its services are designed to enhance oil and natural gas production, and maximize recovery from a range of conventional and unconventional reservoirs. As of December 31, 2013, the company had three 32 tonne and sixteen 100 tonne sand storage vessels, fifty-four fracturing pumpers, and one hundred and eighty LPG storage tanks, and related equipment. GASFRAC Energy Services Inc. was incorporated in 2006 and is headquartered in Calgary, Canada.

Founded in 2006

gasfrac energy services inc (GFS) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: C$62.5K
Senior Vice President of Operations
Total Annual Compensation: C$220.0K
Senior Vice President of Corporate Services
Total Annual Compensation: C$210.0K
Compensation as of Fiscal Year 2013.

gasfrac energy services inc (GFS) Key Developments

GASFRAC Energy Services, Inc. Terminates Proppant Supply Contract

GASFRAC Energy Services Inc. announced the termination of a proppant supply contract. The supply contract had required the purchase of material volumes of ceramic proppant in excess of the company's current requirements. The termination of the contract will reduce GASFRAC's contractual expense obligations going forward. In consideration of the termination of the supply contract the company forfeited the deposit under the supply contract and returned 3,000 tonnes of proppant to the counter party, the costs and liabilities related thereto, having been reflected in the company's unaudited interim financial statements as at September 30, 2014.

GASFRAC Energy Services, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

GASFRAC Energy Services, Inc. announced earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of CAD 11.252 million against CAD 30.423 million a year ago. Adjusted LBITDA was CAD 8.069 million against adjusted EBITDA of CAD 3.364 million a year ago. Loss for the period was CAD 15.200 million or CAD 0.24 per share against CAD 5.061 million or CAD 0.08 per basic and diluted share a year ago. Revenue in the third quarter fell 63% from CAD 30.42 million in last year period, which management attributed to reduced activity with its legacy customers, partly offset by a fracturing project in eastern Canada and a CAD 1.2 million sale of frac sand. Funds flow from operations was negative CAD 8.07 million or 13 cents per share, down from positive CAD 3.36 million or five cents per share in last year quarter. For the nine months, the company reported revenue of CAD 30.751 million against CAD 92.442 million a year ago. Adjusted LBITDA was CAD 23.989 million against adjusted EBITDA of CAD 5.851 million a year ago. Loss for the period was CAD 61.058 million or CAD 0.96 per share against CAD 17.756 million or CAD 0.28 per basic and diluted share a year ago. Funds flow from operations was negative, at CAD 23.99 million or 38 cents per share, down from positive CAD 6.38 million or 10 cents per share in last year period.

GASFRAC Considers Strategic Alternatives

GASFRAC Energy Services, Inc. (TSX:GFS) is considering strategic alternatives. Mark Williamson, Executive Chairman and Chief Executive Officer of GASFRAC, said, that the Special Committee of GASFRAC's Board has engaged CIBC World Markets Inc. to identify, examine and consider a range of strategic alternatives available to GASFRAC, with a view to enhance and maximize shareholder value.


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