Enterprise Group (TSX: $E.TO) Adds Hart #Oilfield Rentals for #Mining and #Energy Sector @EnterpriseGrp
If you are building a #mining or #oil business Hart rents customized equipment for project sites and drilling
October 13, 2017 (Investorideas.com Newswire) Infrastructure news - Enterprise Group, Inc. (TSX: E) As a key component of parent Enterprise Group, Hart Oilfield Rentals brings a unique business approach to the group; just as other subsidiary's Westar Oilfield Rentals, Calgary Tunnelling and Artic Therm.
Simply, if you are building a mining or oil business Hart rents customized equipment for project sites, drilling & completions and facilities that require mobile infrastructure.
It makes zero sense to expend valuable capital to purchase generators, offices, WC's etc. As well, each project is different so flexibility, customization and ease of transport is key.
"Our large competitive advantage is the ability to what we refer to as ‘combo technology," states Joel Bardwell, Senior Manager at Hart. "Whether on a skid or one of our proprietary portable trailers, we can deliver not only the equipment required, but customize it to be the most cost effective. Customers appreciate the approach and with our ongoing R&D and patent/patent pending profile, both served us well during the downturn and positions us well for the rapidly increasing business, both from previous and new clients."
Hart currently has 6 locations are strategically located throughout west central and northern Alberta and northeastern British Columbia. These 6 locations have allowed Hart to establish 6 complimentary "service circles" that slightly overlap and allow Hart to deliver oilfield site set-up services and equipment rentals efficiently to its customers as well as respond quickly to requests for service or repairs to its equipment when required.
Early on, Hart realized that the uniqueness of its approach warranted patent filings for equipment as well as industrial designs. With approximately 25 equally divided between Canada and the US, the practice both cements Hart's reputation as an innovator as well as protect the Company and Enterprise shareholders from interlopers.
There are always interlopers.
It should also be noted that Hart does not sell the custom equipment. Hart is constantly developing equipment to add to its robust and state of the art rental pool: And all with safety the primary consideration.
Just as with all the Enterprise Group's subsidiaries, attention to detail is a given. Reactive and proactive to customer needs is what cuts it out of what is already a small herd. Whether resource, municipal needs, pipelines or any other infrastructure pursuit, that word-infrastructure - should be reflected to a greater or lesser degree in every portfolio. US peers are hitting new highs and others, such as Enterprise's share price is being wrongly assaulted by a volatile oil price.
The bottom line is that over the years Enterprise has made savvy, money making purchases and sales. TC Backhoe sold in 2016 for approximately C$20 million. The Company was purchased in 2007 for C$12 million and under the Enterprise umbrella generated $150 million. The sale was done during the recent downturn, but had been planned previously and drastically lowered and improved the Company's financials.
Having successfully steered through a blistering downturn, which seems to have unfairly punish a stock that has a breakup of C$0.85 but is trading at C$0.30, it seems a good addition to a junior portfolio.
Investors will also note that as the Company is traded on the TSX that adds to a list of bonafides to Enterprise that investors would be wise to take stock.
About Enterprise Group, Inc. (TSX: E)
Enterprise Group, Inc. is a consolidator of construction services companies operating in the energy, utility and transportation infrastructure industries. The Company's focus is primarily construction services and specialized equipment rental. The Company's strategy is to acquire complementary service companies in Western Canada, consolidating capital, management, and human resources to support continued growth. Enterprise acquired of Artic Therm International Ltd. in September 2012, Calgary Tunnelling & Horizontal Augering Ltd. in June 2013, Hart Oilfield Rentals in January 2014, and Westar Oilfield Rentals Inc. in October 2014. More information is available at the Company's website, www.enterprisegrp.ca. Also, today's filings can be found on www.sedar.com
Forward Looking Information
Certain statements contained in this news release constitute forward - looking information. These statements relate to future events or the Compan y's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressio ns and statements relating to matters that are not historical facts are intended to identify forward - looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company's Annual Information Form and other do cuments filed with securities regulatory author ities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors that co uld influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to p ublicly update or revise any forward - looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
For questions or additional information, please contact:
Leonard Jaroszuk: President & CEO , or
Desmo nd O'Kell: Senior Vice - President
Article source - Baystreet.ca
Disclaimer/disclosure- This news is published on the Investorideas.com Newswire - News that Inspires big ideas Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
Disclosure this news article is a paid for news release on the Investorideas.com newswire by Enterprise Group, Inc.( TSX: E) and was not created or originated by Investorideas. Learn more about costs and our newswire service http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.