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DIVERGENT Energy Services Announces the Release of 2023 Third Quarter Results

DIVERGENT Energy Services Announces the Release of 2023 Third Quarter Results

DIVERGENT Energy Services宣佈發佈2023年第三季度業績
GlobeNewswire ·  2023/11/29 06:19

CALGARY, Alberta, Nov. 28, 2023 (GLOBE NEWSWIRE) -- DIVERGENT Energy Services Corp. ("Divergent", the "Company", or "DVG") announces the release of its financial results for the three and nine months ended September 30, 2023. All amounts are in thousands (000's) of United States Dollars, unless otherwise noted.

艾伯塔省卡爾加里,2023年11月28日(GLOBE NEWSWIRE)——Divergent Energy Services Corp.(“Divergent”、“公司” 或 “DVG”)宣佈發佈截至2023年9月30日的三個月和九個月的財務業績。除非另有說明,否則所有金額均以千(000)美元爲單位。

HIGHLIGHTS FOR THE QUARTER

本季度的亮點

  • The Company delivered positive operating income of $63 in the third quarter of 2023 despite lower revenue compared to the prior year.
  • Adjusted EBTIDA of $155 thousand in the third quarter of 2023 represents the twelfth consecutive quarter of positive adjusted EBITDA.
  • 儘管收入與去年同期相比有所下降,但該公司在2023年第三季度實現了63美元的正營業收入。
  • 2023年第三季度調整後的息稅折舊攤銷前利潤爲15.5萬美元,這是調整後息稅折舊攤銷前利潤連續第十二個季度爲正。

INDUSTRY OUTLOOK

行業展望

Global demand for oil remains constant as the world's major economies continue to rely on petroleum products in everyday life. Macroeconomic factors including continued inflationary pressures, extended voluntary production cuts by Saudi Arabia, ongoing geopolitical tensions creating concerns for security of supply, and record low North American oil inventory storage levels all point to continued strong oil pricing well into 2024. At these price levels the Company anticipates fairly consistent oilfield service activity levels as customers remain very positive on their current spending plans for 2023 and start to build budgets for 2024. The Company continues to add new oil customers and as such, a capital investment in oilfield equipment was made in the third quarter of 2023 to increase the Company's capacity to support a growing customer base.

由於世界主要經濟體在日常生活中繼續依賴石油產品,全球對石油的需求保持不變。宏觀經濟因素包括持續的通貨膨脹壓力、沙特阿拉伯長期自願減產、持續的地緣政治緊張局勢引發供應安全擔憂,以及創紀錄的低北美石油庫存儲存水平,都表明油價在2024年之前一直保持強勁。在這些價格水平下,公司預計油田服務活動水平將相當穩定,因爲客戶對當前的2023年支出計劃仍然非常樂觀,並開始制定2024年的預算。公司繼續增加新的石油客戶,因此,於2023年第三季度對油田設備進行了資本投資,以提高公司支持不斷增長的客戶群的能力。

While natural gas prices trended down and flattened out through the first quarter of 2023, the Company's primary customer remained busy through the first quarter of 2023. However, during the second quarter of 2023, this same customer significantly reduced their activity levels, in part due to lower gas prices, but primarily due to two of their primary offtake pipelines being taken offline for repairs and recertification, which resulted in reduced revenue for the quarter. The repairs and recertification were completed mid-way through the third quarter of 2023. The Company anticipates continued base level activity throughout the fourth quarters of 2023 while the customer works through a restructuring and sale process, the results of which are unknown. Market analysts are reporting that gas prices should remain flat in the fourth quarter of 2023 and into 2024 due to reduced gas-targeted drilling over the past year and increasing LNG exports.

儘管天然氣價格在2023年第一季度一直呈下降趨勢並趨於平緩,但該公司的主要客戶在2023年第一季度一直很忙碌。然而,在2023年第二季度,同一位客戶的活動水平大幅降低,部分原因是天然氣價格下跌,但主要原因是他們的兩條主要吸水管道下線進行維修和重新認證,這導致該季度的收入減少。維修和重新認證已於 2023 年第三季度中途完成。該公司預計,在整個2023年第四季度,在客戶進行重組和銷售的同時,基本水平將持續增長,結果尚不清楚。市場分析師報告稱,由於過去一年以天然氣爲目標的鑽探減少以及液化天然氣出口增加,天然氣價格將在2023年第四季度和2024年保持平穩。

Overall, the demand for energy services and the ability for the sector to improve over the next few years is seen as highly likely. The structural shortfall in global energy supply will be difficult for the industry to overcome for some time. The Company remains confident in the long-term viability of the oil and gas basins within its service region. These basins have significant future development opportunities that the Company is well positioned to address. However, in the near term, the Company will need to work through the challenges associated with the low activity levels of its largest customer as it works through its restructuring and sales process.

總體而言,人們認爲未來幾年對能源服務的需求和該行業改善的能力極有可能。該行業在一段時間內將難以克服全球能源供應的結構性缺口。該公司對其服務區內石油和天然氣盆地的長期可行性仍然充滿信心。這些盆地擁有巨大的未來發展機遇,公司完全有能力解決這些機遇。但是,在短期內,該公司在重組和銷售流程中將需要努力應對與其最大客戶活動水平低相關的挑戰。

FINANCIAL AND OPERATING HIGHLIGHTS – NINE MONTHS ENDED SEPTEMBER 30, 2023

財務和運營亮點——截至2023年9月30日的九個月

Select Financial Information for the three and nine months ended September 30, 2023 have been summarized below. Tables contain results for 2023 and 2022. Refer to the Company's audited condensed consolidated financial statements and related management's discussion and analysis ("MD&A") for a full description.

截至2023年9月30日的三個月和九個月的部分財務信息彙總如下。表格包含2023年和2022年的結果。有關完整描述,請參閱公司經審計的簡明合併財務報表以及相關管理層的討論與分析(“MD&A”)。

(All figures in '000's of US dollars except number of shares and per share data, unless otherwise stated)

(除非另有說明,否則所有數字均以千美元計,股票數量和每股數據除外)

Unaudited Condensed Consolidated Statements of Net Income and Comprehensive Income
Three months ended
September 30,
Nine months ended
September 30,
2023 2022 2023 2022

Revenue
$1,828 $3,712 $6,810 $9,470
Cost of sales (1,422) (3,149) (5,121) (7,518)
Provision reversal for slow moving inventory 146 - 346 -
Gross profit 552 563 2,035 1,952

General and administration
(482) (419) (1,643) (1,216)
Depreciation and amortization (2) (1) (6) (7)
Share-based compensation (5) (10) (23) (35)
Results from operating activities 63 133 363 694
Finance (expense) income 59 445 (351) 289
Net (loss) income 122 578 12 983
Other comprehensive loss being foreign exchange gains and losses (177) (559) (34) (700)
Total comprehensive (loss) income for the period ($55) $19 ($22) $283
Income per share
Net income – basic and dilutive $0.00 $0.01 $0.00 $0.03
未經審計的淨收益和綜合收益簡明合併報表
三個月已結束
9月30日
九個月已結束
9月30日
2023 2022 2023 2022

收入
1,828 美元 3,712 美元 6,810 美元 9,470 美元
銷售成本 (1,422) (3,149) (5,121) (7,518)
爲流動緩慢的庫存撤消準備金 146 - 346 -
毛利 552 563 2,035 1,952

一般和行政
(482) (419) (1,643) (1,216)
折舊和攤銷 (2) (1) (6) (7)
基於股份的薪酬 (5) (10) (23) (35)
經營活動的結果 63 133 363 694
財務(支出)收入 59 445 (351) 289
淨(虧損)收入 122 578 12 983
其他綜合虧損是外匯損益 (177) (559) (34) (700)
該期間的綜合(虧損)收入總額 (55 美元) 19 美元 (22 美元) 283 美元
每股收益
淨收益-基本收入和攤薄收益 0.00 美元 0.01 美元 0.00 美元 0.03 美元
Unaudited Condensed Consolidated Statements of Financial Position
September 30,
2023

December 31,
2022
ASSETS (Unaudited) (Audited)
Current assets
Cash $157 $556
Prepaid expenses, deposits and advances 141 134
Trade receivables 2,057 1,114
Inventories 742 680
3,097 2,484
Non-current assets
Property and equipment 217 171
Right-of-use assets 322 457
Total Assets $3,636 $3,112
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities $2,032 $1,566
Current portion of lease obligations 144 168
Interest payable 214 132
Promissory notes 672 457
3,062 2,323
Non-current liabilities
Lease obligations 151 257
Promissory notes 1,466 1,726
Debentures 849 702
Government loan 33 30
Total Liabilities $5,561 $5,038
SHAREHOLDERS' DEFICIT
Share capital $19,613 $19,613
Contributed surplus 6,138 6,016
Warrants - 99
Accumulated other comprehensive loss (1,463) (1,429)
Accumulated deficit (26,213) (26,225)
Total Shareholders' Deficit ($1,925)
($1,926)
Total Liabilities and Shareholders' Deficit $3,636 $3,112
未經審計的簡明合併財務狀況表
9月30日
2023
十二月三十一日
2022
資產 (未經審計) (已審計)
流動資產
現金 157 美元 556 美元
預付費用、存款和預付款 141 134
貿易應收賬款 2,057 1,114
庫存 742 680
3,097 2,484
非流動資產
財產和設備 217 171
使用權資產 322 457
總資產 3,636 美元 3,112 美元
負債
流動負債
應付賬款和應計負債 2,032 1,566 美元
租賃債務的當前部分 144 168
應付利息 214 132
期票 672 457
3,062 2,323
非流動負債
租賃義務 151 257
期票 1,466 1,726
債券 849 702
政府貸款 33 30
負債總額 5,561 美元 5,038 美元
股東赤字
股本 19,613 美元 19,613 美元
繳款盈餘 6,138 6,016
認股證 - 99
累計其他綜合虧損 (1,463) (1,429)
累計赤字 (26,213) (26,225)
股東赤字總額 (1,925 美元)
(1,926 美元)
負債總額和股東赤字 3,636 美元 3,112 美元

The Company's complete set of September 30, 2023 quarter end filings have been filed on the SEDAR website at and are also available on the Company's website at .

公司於2023年9月30日提交的全套季度末申報已在SEDAR網站上提交,也可在公司網站上查閱,網址爲。

For Further Information:

欲了解更多信息:

Ken Berg, President and Chief Executive Officer, kberg@divergentenergyservices.com

肯·伯格,總裁兼首席執行官,kberg@divergentenergyservices.com

Ken Olson, Chief Financial Officer, ken.olson@divergentenergyservices.com

肯·奧爾森,首席財務官,ken.olson@divergentenergyservices.com

ABOUT DIVERGENT ENERGY SERVICES CORP.

關於 DIVERGENT 能源服務公司

Headquartered in Calgary, Alberta, Divergent provides fluids management products and services for the water, gas and oil industries through its wholly owned subsidiary Extreme Pump Solutions LLC.

Divergent總部位於艾伯塔省卡爾加里,通過其全資子公司Extreme Pump Solutions LLC爲水、天然氣和石油行業提供流體管理產品和服務。

DIVERGENT Energy Services Corp., 2020, 715 – 5th Ave SW, Calgary, AB T2P 2X6, (403) 543-0060, (403) 543-0069 (fax),

DIVERGENT 能源服務公司,2020 年,715 — 5第四 Ab Calgary SW Ave T2P 2X6,(403) 543-0060,(403) 543-0069(傳真),

FORWARD LOOKING STATEMENTS

前瞻性陳述

This press release contains forward-looking statements, including, without limitation, statements pertaining to anticipated future operational activity levels of Divergent and of a majority of its customers, and statements pertaining to interest payments on the Company's debentures. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties, including: the risk that the anticipated slowdown in sales and service of submersible pumps by Divergent's customers lasts longer than expected or impacts Divergent's revenues more severely than expected, the risk that the COVID-19 pandemic and the low oil and gas price environment cause additional negative effects on Divergent's business, the risk that the suspension of trading of the Company's common shares by the TSXV cannot be lifted in a timely manner or at all, and the risk that the Company cannot remedy the outstanding interest payments under the terms of its debenture indenture in a timely manner or at all . There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at . Forward-looking statements are based on estimates and opinions of management of the Company at the time the information is presented, including expectations provided to Divergent by its customers. The Company may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

本新聞稿包含前瞻性陳述, 包括但不限於與Divergent及其大多數客戶未來預期運營活動水平有關的報表,以及與公司債券利息支付有關的報表。除歷史事實陳述外,此處包含的所有陳述均爲前瞻性信息,此類信息涉及各種風險和不確定性,包括:Divergent客戶潛水泵銷售和服務放緩的持續時間比預期更長或對Divergent收入的影響比預期更爲嚴重的風險,COVID-19 疫情和低油氣價格環境對Divergent業務造成額外負面影響的風險,暫停交易的風險公司的多倫多證券交易所的普通股無法及時或根本無法提取,而且公司有可能無法及時或根本無法補償債券契約條款規定的未償利息。無法保證此類信息會被證明是準確的,實際結果和未來事件可能與此類信息中的預期存在重大差異。對用於開發此類前瞻性信息的假設的描述以及對可能導致實際業績與前瞻性信息存在重大差異的風險因素的描述可在SEDAR網站上公司的披露文件中找到。前瞻性陳述基於發佈信息時公司管理層的估計和意見,包括客戶向Divergent提供的預期。公司可以在認爲必要時更新或修改此類前瞻性陳述,無論是由於新信息、未來事件還是其他原因,但除非適用的證券法要求,否則公司沒有義務更新或修改任何前瞻性陳述。

This press release contains financial outlook information ("FOFI") about prospective revenue reductions, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this press release was made as of the date hereof and was provided for the purpose of providing an update regarding an anticipated material reduction in near-term revenue. Divergent disclaims any intention or obligation to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this press release should not be used for purposes other than for which it is disclosed herein.

本新聞稿包含有關預期收入減少的財務展望信息(“FOFI”),這些信息受上述段落中規定的相同假設、風險因素、限制和條件的約束。本新聞稿中包含的FOFI是截至本文發佈之日發佈的,其目的是提供有關預計短期收入將大幅減少的最新情況。除非適用法律有要求,否則Divergent不打算或沒有義務更新或修改本新聞稿中包含的任何 FOFI,無論是由於新信息、未來事件還是其他原因。提醒讀者,本新聞稿中包含的FOFI不應用於本文披露的目的以外的其他目的。

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

多倫多證券交易所風險投資交易所及其監管服務提供商(該術語在多倫多證券交易所風險投資交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。

(Not for dissemination in the United States of America)

(不適用於在美利堅合衆國傳播)


譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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