S&P Capital IQ announced today that it has commenced Standard & Poor’s Factual Stock Report coverage on Canadian Energy Services & Technology Corp.
Canadian Energy Services & Technology Corp. (TSX: CEU; OTCQX: CESDF) (''CES'' or ''the company'') engages in designing and implementing technically advanced drilling fluid systems, and production and well stimulation fluid systems in Canada and the United States. The company offers drilling fluid systems for drilling horizontal wells, vertical, and directional wells. It also provides environmental and drilling fluids waste disposal services and trucks and trailers to off-highway oilfield work. CES has operations in the Western Canadian Sedimentary Basin (WCSB) and in various basins of the United States, through its indirect wholly owned subsidiary, AES Drilling Fluids, LLC (“AES”). Canadian Energy Services' current client base consists of approximately 300 oil and gas entities that represent a cross-section of the Canadian and US oil and gas industry from junior oil and gas exploration and production entities to large multinational producers.
Drilling fluid, also referred to as ''drilling mud'', is a term that includes most fluids used in the drilling business to facilitate the drilling of oil and gas wells. The designed drilling fluid encompasses the functions of cleaning the hole, stabilizing the rock drilled, controlling subsurface pressures, enhancing drilling rates and protecting potential production zones while conserving the environment in the surrounding surface and subsurface area. Canadian Energy Services' drilling fluid systems are designed to be adaptable to a broad range of complex and varied drilling scenarios, to help clients eliminate inefficiencies in the drilling process and to assist them in meeting operational objectives and environmental compliance obligations.
CES operates three separate laboratory facilities and works with various third party chemical laboratories to design and continually improve a suite of drilling fluid systems focused on the geological formations and drilling methods employed in North America. The company's key suite of proprietary drilling fluid systems consists of the following: it's patented Seal-AX and PolarBond lines along with its proprietary ABS40, PureStar, and Liquidrill/Tarbreak products.