Secure Energy Services

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Secure Energy Services Inc.
TypePublic
TSXSES
S&P/TSX Composite Component
IndustryMidstream Infrastructure
Founded2007
FounderRene Amirault
Headquarters
Calgary, Alberta
,
Canada
Key people
Rene Amirault (President and Chief executive officer)
Websitehttp://secure-energy.com/

Secure Energy Services Inc. is a Canadian public energy services company, based in Calgary, Alberta. It specializes in oilfield waste treatment and disposal.[1] It is listed on the Toronto Stock Exchange.

History[edit]

Secure Energy Services was founded in 2007 by Rene Amirault and several partners.[1] It held an IPO in April 2010, raising C$57.5 million.[2] At the time, it had nine facilities. In 2011, it acquired Marquis Alliance Energy Group for $131 million.[1] By 2014, Secure Energy had 24 facilities, and 13% of the Canadian environmental services market.[3]

In 2014 and 2015, due to the decrease in oil prices, Secure Energy experienced significant challenges due to decreasing oil prices.[4] The company responded by laying off 300 workers, and its stock price decreased by half.[3] In 2017, it acquired Ceiba Energy Services for $26 million, as part of the consolidation among energy services firms.[5]

Operations[edit]

Secure Energy Services primarily provides oilfield waste treatment and disposal, including of wastewater.[3] As of 2018, it has 47 facilities in Western Canada and North Dakota, mostly in Alberta.[6] Most of the locations are for waste processing and disposal, but the company also runs 4 rail terminals.[6]

Controversy[edit]

In December 2017, local residents and Métis leaders protested a planned oilsands landfill by the company outside of Conklin, Alberta.[7] The protesters were concerned the landfill would contaminate waterways, scare wildlife, and create unpleasant smells.[7] SECURE held an open house on December 7, 2017[7] to inform stakeholders about the project and the measures they take to ensure safe conditions in the communities they live and work in.[8]

References[edit]

  1. ^ a b c "How a successful IPO helped Secure Energy Services grow - Alberta Oil Magazine". Alberta Oil Magazine. 2013-04-11. Retrieved 2018-02-27.
  2. ^ "Secure Energy closes C$57.5 mln initial offering". Reuters. 2010-03-30. Retrieved 2018-02-27.
  3. ^ a b c "Canadian water treatment companies cash in on U.S. shale development - Alberta Oil Magazine". Alberta Oil Magazine. 2014-07-09. Retrieved 2018-02-28.
  4. ^ "Oilfield services companies face a 2016 where there's little left to cut". Financial Post. 2015-12-30. Retrieved 2018-02-28.
  5. ^ "Mergers, acquisitions gain pace as oilfield service companies boost scale in search of lower costs". Calgary Herald. 2017-05-17. Retrieved 2018-02-28.
  6. ^ a b "Processing, Recovery and Disposal LOCATIONS" (PDF). Secure Energy.
  7. ^ a b c "'It is a disgrace': Community opposes proposed oilsands landfill south of Fort McMurray". CBC News. Retrieved 2018-02-28.
  8. ^ "Health, Safety, and Environment | Secure Energy". www.secure-energy.com. Retrieved 2019-01-03.