Welcome to our dedicated page for Enservco news (Ticker: ENSV), a resource for investors and traders seeking the latest updates and insights on Enservco stock.
Enservco Corporation (NYSE: ENSV) delivers essential well-site services to the U.S. onshore energy sector, specializing in hot oiling, acidizing, and frac heating solutions. This page serves as the definitive source for verified company developments, operational updates, and strategic announcements.
Investors and industry professionals will find timely updates on earnings reports, service expansions, and operational milestones. Our curated collection includes press releases detailing ENSV's technical innovations across key regions like the Permian Basin and Marcellus Shale, alongside strategic partnerships in the energy services sector.
Key updates cover service capacity changes, safety initiatives, and market positioning within competitive oilfield services. All content undergoes strict verification to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for direct access to ENSV's official communications, including quarterly performance updates and operational strategy announcements. Check regularly for insights into how the company maintains its position as a critical service provider in domestic energy production.
Enservco (ENSV) announced several significant operational changes and challenges in Q1 2025. The company completed the sale of its subsidiary Buckshot Trucking on April 1, 2025, resulting in the cancellation of $2.7M in promissory notes. Through its subsidiary Heat Waves, Enservco refinanced its Utica debt, reducing monthly payments from $168,075 to $78,165 through September 2029.
The company also settled its Libertas Funding debt, decreasing monthly payments by $92,000. However, Enservco faces significant challenges as it failed to file its Form 10-K for fiscal year 2024 and has not engaged auditors for financial statements. The company received notice that its stock will likely be delisted from OTCQB if compliance is not achieved by May 15, 2025.
Enservco (NYSE American: ENSV) reported Q2 2024 results, highlighting recent strategic moves to improve performance. Key points include:
1. Revenue grew slightly to $3.8 million in Q2 2024.
2. Net loss improved to $2.3 million ($0.08 per share) from $2.6 million ($0.12 per share) in Q2 2023.
3. Adjusted EBITDA for H1 2024 was $1.6 million, up from a $0.1 million loss in H1 2023.
4. The company sold its Colorado frac water heating assets and acquired Buckshot Trucking.
5. Enservco entered a strategic relationship with Star Equity Holdings, including equity investments.
CEO Rich Murphy emphasized these moves aim to enhance financial position, reduce reliance on seasonal businesses, and drive growth through logistics services.
Enservco (NYSE American: ENSV) has announced the closing of its acquisition of Buckshot Trucking and a strategic partnership with Star Equity Holdings. The Buckshot Transaction, valued at $5 million, transforms Enservco by entering the energy logistics business with an immediately accretive acquisition. The Star Transaction includes a $2.5 million equity exchange and a $1 million short-term promissory note.
Key highlights include:
- Diversification into year-round energy logistics services
- Improved financial strength and visibility
- Strategic alignment with Star Equity Holdings
- Addition of Star CEO Rick Coleman to Enservco's Board
- Potential for future growth and expansion
Enservco also provided an update on its plan to regain compliance with NYSE American listing standards and announced the timing of its Q2 2024 earnings release and conference call.
Enservco (NYSE American: ENSV) has announced the sale of its Colorado-based frac water heating assets to HP Oilfield Services for $1,695,000. This strategic move aligns with Enservco's goal to reduce reliance on seasonal businesses and focus on year-round operations. The transaction proceeds will be used to pay down debt, particularly the Utica Facility. Additionally, Enservco is nearing completion of its acquisition of Buckshot Trucking, , expected to close within days.
The company aims to redirect resources towards the transportation and logistics market in the energy sector. Enservco will continue providing frac water heating and hot oil services in the Marcellus/Utica basins. The company's CEO, Rich Murphy, emphasized that these moves, along with the recently approved Equity Line of Credit facility, support efforts to regain compliance with NYSE American Listing Standards and improve Enservco's financial position.
Enservco provided an update on its efforts to regain compliance with NYSE American listing standards. The Updated Plan includes a strategic shift from seasonal frac water heating to more stable hot oiling and energy logistics services, aided by acquiring Buckshot Trucking. Key actions include securing a $10 million equity line of credit, converting $2.2 million of debt to equity, and issuing $1.25 million of equity for the Buckshot acquisition.
The company aims to address its equity deficit and retain its NYSE American listing by achieving a minimum of $6.0 million in stockholders' equity. Despite making significant progress, there is still a risk of delisting if all elements of the Updated Plan are not successfully executed.
Enservco (NYSE American: ENSV) announced that NYSE Regulation staff has decided to delist the company from the NYSE American exchange due to failure to meet the required $6 million stockholders' equity by June 9, 2024. Enservco plans to appeal this decision and submit a remediation plan to address its equity deficit. During the appeal process, Enservco's stock will remain listed and traded. The company's Updated Plan includes securing a $10 million equity line of credit, converting $2.2 million in convertible notes to equity, and completing the acquisition of Buckshot Trucking with an issuance of $1.25 million in equity. Enservco aims to meet the NYSE American standards to avoid delisting, although there is no assurance of successful compliance.
Enservco reported its first-quarter 2024 results, showing a 10% year-over-year revenue increase to $9.8 million. The company's segment profit grew by 62%, driven by a 21% increase in completion and other services revenue. Net income reached $0.7 million, a significant turnaround from a $1.0 million loss in Q1 2023. Adjusted EBITDA rose by 125% to $2.2 million. Key highlights include reduced general and administrative expenses by 18% and an agreement to acquire Buckshot Trucking , expected to enhance year-round business operations.
Completion services saw robust growth due to colder weather and increased service prices in Pennsylvania and Colorado. However, production services revenue fell by 13%, attributed to decreased activity in Texas and Pennsylvania. Enservco plans to close the Buckshot acquisition in Q3 2024 and is evaluating financing options. The company continues to focus on reducing reliance on seasonal services and improving long-term cash flow and profitability.
Enservco (ENSV) announced changes to its Board of Directors, appointing transportation industry investor Marc Kramer. The company aims to reduce reliance on seasonal business with the Buckshot Acquisition, transitioning into the logistics business segment. Strategic initiatives are being explored to generate year-round cash flow and growth.
