Enerflex Ltd. Q3-2018 Earnings Update
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Enerflex is a single-source supplier of natural gas compression, oil and gas processing, refrigeration systems, and electric power generation equipment with in-house engineering and mechanical services expertise. The Company's broad in-house resources provide the capability to engineer, design, manufacture, construct, commission, and service hydrocarbon handling systems. Enerflex's expertise encompasses field production facilities, compression and natural gas processing plants, CO2 processing plants, refrigeration systems, and electric power equipment serving the natural gas production industry. Total assets as of Sept-30-2018 were $2.1B, term debt was $426M.
Headquartered in Calgary, Enerflex was formed in 1980 and today operates in 15 countries worldwide, including Canada, the United States, Argentina, Bolivia, Brazil, Colombia, Mexico, Australia, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Indonesia, Malaysia, and Thailand. Manufacturing facilities are located in Canada, Australia and its tidewater location in Houston, Texas.
Enerflex has operations in the US, Canada and the rest of the world (ROW). US revenues come from manufacturing natural gas compression equipment and process equipment in addition to generating revenue from product support services and contract compression rentals; the Rest of World generates revenue from manufacturing (focusing on large-scale natural gas process equipment), service, and rentals. In addition, the Rest of World segment has been successful in securing BOOM (build, own, operate. maintain) projects; Canadian revenues are mainly from manufacturing (primarily processing and compression equipment), service and rentals. US operations contribute 45% or revenues, ROW – 35% and Canada – 20%.
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