21:25:22 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Essential Energy Services Ltd
Symbol ESN
Shares Issued 141,856,813
Close 2016-11-11 C$ 0.55
Market Cap C$ 78,021,247
Recent Sedar Documents

Globe/CP say Essential Energy warns of staff shortages

2016-11-11 07:10 ET - In the News

The Globe and Mail reports in its Friday, Nov. 11, edition that an oil-field services company that laid off almost 66 per cent of its workers over the past two years is now warning it cannot find enough new staff to take full advantage of a recent increase in activity. A Canadian Press dispatch to The Globe reports that Calgary-based Essential Energy Services (57 cents) says it cut more than 400 workers in 2015 and almost 250 in the first three months of this year, dropping its staff count from almost 1,000 to a low point of 343 last March. The cuts came as customers in Western Canada reduced spending and their appetite for Essential Energy's well completion and production services. Essential says demand has been rising this fall as producers react to modest improvements in commodity prices but it warns that it could be "constrained" in its ability to accept work because it needs to hire another 40 to 50 workers. Mark Salkeld, president of the Petroleum Services Association of Canada, said in an interview last week that the length and depth of the current energy industry downturn mean many laid-off oil-field workers have abandoned the profession.

© 2024 Canjex Publishing Ltd. All rights reserved.