New West Energy Services Inc. Announces Its Second Quarter Results
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 12/30/14 -- New West Energy Services Inc. (TSX VENTURE: NWE) (the "Corporation") is pleased to announce the financial results for the Corporation for the second quarter ended October 31, 2014.
Operational and Financial Results for the Second Quarters Ended October 31, 2014 and 2013:
Company Developments:
Total capital expenditures during the quarter amounted to $1.5 million for additional trucks and equipment. During the quarter the Corporation sold approximately five units from the equipment fleet which resulted in net proceeds of approximately $300,000. The sold units consisted of older model vacuum and water trucks as well as some underutilized end dump trucks and trailers.
Outlook and Strategy:
The Corporation has a solid client base and is looking to leverage this client base to offer its new diversified services. Management plans on continuing the diversification growth into the production sector and increasing the plant turnaround and bulk transport service in the future.
OVERVIEW
From the Slave Lake and Medicine Hat centres, the services provided are to the drilling projects while from Beaverlodge centre, the services are provided mainly to completions and production operations. Through its subsidiaries, the Corporation operates a fleet of straight, combo and hydro vac trucks as well as end dumps, water and tank trucks with quad wagons and tri trailers, steamer/boiler units and environmental services. The Corporation operates throughout Western Canada in the drilling, completions and production sectors of the oil and gas industry with its main service centres located in Beaverlodge, Medicine Hat and Slave Lake, Alberta.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Gerry E. Kerkhoff
New West Energy Services Inc.
President & Chief Executive Officer
Phone - 403.984.9798 or 1.888.977.2327 (BEAR)
Fax - 403.984.9799
Email -
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Datum: 30.12.2014 - 17:49 Uhr
Sprache: Deutsch
News-ID 1327601
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Equipment
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