Enservco Announces Exit of Colorado Frac Water Heating Business Through Sale of Assets
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 09 2024
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Source: Newsfilter
Asset Sale and Debt Reduction: Enservco Corporation has sold its Colorado frac water heating assets for $1.7 million to HP Oilfield Services, with proceeds aimed at reducing debt under the Utica Facility, thereby facilitating a future debt restructuring.
Strategic Shift Towards Logistics: The company is transitioning from seasonal operations to focus on year-round businesses, highlighted by the pending acquisition of Buckshot Trucking, which will enhance operational stability and cash flow visibility.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
