SECURE Announces Consolidation Under One Brand Name and Provides Second Quarter Operational Update

SECURE Announces Consolidation Under One Brand Name and Provides Second Quarter 
Operational Update 
FOR: Secure Energy Services Inc. 
JUNE 12, 2014 
SECURE Announces Consolidation Under One Brand Name and Provides Second Quarter
Operational Update 
CALGARY, ALBERTA--(Marketwired - June 12, 2014) - SECURE Energy Services Inc.
("SECURE" or the "Corporation") (TSX:SES) today announced
that it has consolidated all of its operating entities and services under the
SECURE Energy Services brand name and provided an update in respect of second
quarter operations. 
Acquisitions have always been a part of the Corporation's growth strategy,
with the following brands joining the family over the past seven years: Marquis
Alliance, XL Fluid Systems, Imperial Drilling Fluids, Target Rentals, Frontline
Integrated Services, Infinity Oilfield Services, NextGeneration Solutions,
Dynomite Environmental Contracting and Dril-X Fluids. The Corporation has also
acquired assets from Heemskirk Canada, New West Drilling Fluids and Quadrise
Consolidated under the SECURE brand name the Corporation now has over 1,300
employees, over $2.5 billion in enterprise value and carries on operations in 4
Canadian provinces and 2 U.S. states. Its operations are grouped under three
divisions: Processing, Recovery, & Disposal ("PRD"), Drilling
Services ("DS") and OnSite Services ("OS").  
With all of its services under one brand, SECURE is better positioned to
support its clients throughout the entire lifecycle of a well - from drilling
and completions to production, final abandonment and reclamation. "Many of
our clients are increasingly seeing the value of integrated and innovative
services", said Rene Amirault, President and CEO at SECURE. "As their
services partner, SECURE can deliver total cost and operational efficiencies
along with clear accountability for quality, safety, and environmental
Much of the effort required to implement the brand consolidation has been
completed, with full implementation expected by the end of the year.  
The first two months of operations for the second quarter of 2014 have
delivered exceptional results with higher than anticipated demand for the
Corporation's services in all three divisions and increased operating days
compared to the same period in 2013. Due to the late onset of spring break-up
and the prolonged winter drilling season, activity levels were above
expectations during April and May that have typically been subject to a
significant slowdown in the industry as a whole. As a result, these first two
months of the second quarter of 2014 are above management's expectations
thus far. 
SECURE also completed and commissioned both the Edson, Alberta and Keene, North
Dakota full service terminals in April of 2014 and continued to execute on
acquisition strategies both in the DS and OS divisions that have been accretive
to overall results. 
As a result of the factors above, SECURE anticipates consolidated net earnings
excluding depreciation, depletion, amortization and accretion, share-based
payments expense, interest, and taxes ("EBITDA") for the first two
months of the second quarter of 2014 to be between $19 million and $24 million.
These exceptional results would be considered significantly above
management's expectations as the impact of spring break-up in any given
year is difficult to predict. In addition, underlying market fundamentals,
spending expectations by producers, and future growth prospects are all
trending above Q2 2013 levels, and as a result management anticipates strong
results for the month of June and for the second quarter in total. This
estimate is subject to completion of the second quarter interim financial
report and review by SECURE's auditors. SECURE will release the second
quarter interim report on August 12, 2014.  
Certain statements contained in this document constitute "forward-looking
statements" and/or "forward-looking information" within the
meaning of applicable securities laws (collectively referred to as
forward-looking statements). When used in this document, the words
"may", "would", "could", "will",
"intend", "plan", "anticipate",
"believe", "estimate", "expect", and similar
expressions, as they relate to SECURE, or its management, are intended to
identify forward-looking statements. Such statements reflect the current views
of SECURE with respect to future events and operating performance and speak
only as of the date of this document. In particular, this document contains
forward-looking statements pertaining to: anticipated EBITDA for the first two
months of the second quarter ended June 30, 2014; performance expectations for
the month of June and the second quarter ended June 30, 2014, in total; general
market conditions; activity levels in the oil and gas sector including market
fundamentals and drilling levels; demand for the Corporation's services;
expansion strategy; completion of facilities; the impact of new facilities on
the Corporation's financial and operational performance; and acquisition
Forward-looking statements concerning expected operating and economic
conditions are based upon estimated results as well as the assumption that
increases in market activity and growth will be consistent with industry
activity in Canada, and the United States, and growth levels in similar phases
of previous economic cycles. 
Forward-looking statements involve significant risks and uncertainties, should
not be read as guarantees of future performance or results, and will not
necessarily be accurate indications of whether such results will be achieved.
Readers are cautioned not to place undue reliance on these statements as a
number of factors could cause actual results to differ materially from the
results discussed in these forward-looking statements, including but not
limited to those factors referred to and under the heading "Business
Risks" and under the heading "Risk Factors" in the
Corporation's Annual Information Form ("AIF") for the year ended
December 31, 2013. Although forward-looking statements contained in this
document are based upon what the Corporation believes are reasonable
assumptions, the Corporation cannot assure investors that actual results will
be consistent with these forward-looking statements. The forward-looking
statements in this document are expressly qualified by this cautionary
statement. Unless otherwise required by law, SECURE does not intend, or assume
any obligation, to update these forward-looking statements. 
Non-GAAP Measures 
The Corporation uses accounting principles that are generally accepted in
Canada (the issuer's "GAAP"), which includes, International
Financial Reporting Standards ("IFRS"). In addition, this press
release refers to the Non-GAAP financial measure EBITDA. EBITDA is not a
recognized measure under IFRS and does not have any standardized meaning
prescribed by IFRS. EBITDA as used by the Corporation may not be comparable to
similar measures presented by other reporting issuers. See the
management's discussion and analysis available at for a
reconciliation of historical EBITDA to the equivalent IFRS measure. Management
believes that in addition to net earnings, EBITDA is a useful supplemental
measure as it provides an indication of the results generated by the
Corporation's principal business activities prior to consideration of how
those activities are financed or how the results are taxed. EBITDA should not
be considered in isolation or as a substitute for measures of performance
prepared in accordance with GAAP. 
SECURE is a TSX publicly traded energy services company that provides safe and
environmentally responsible fluids and solids solutions to the oil and gas
industry. The Corporation owns and operates midstream infrastructure and
provides environmental services and innovative products to upstream oil and
natural gas companies operating in the Western Canadian Sedimentary Basin
("WCSB") and the Rocky Mountain Region in the United States.  
The Corporation operates three divisions:  
PRD: The PRD division owns and operates midstream infrastructure that provides
processing, storing, shipping and marketing of crude oil, oilfield waste
disposal and recycling. Specifically these services are clean oil terminalling,
custom treating of crude oil, crude oil marketing, produced and waste water
disposal, oilfield waste processing, landfill disposal, and oil purchase/resale
service. SECURE currently operates a network of facilities throughout western
Canada and in North Dakota, providing these services at its full service
terminals, landfills and stand-alone water disposal facilities. 
DS: The DS division provides equipment and chemicals for building, maintaining,
processing and recycling of drilling and completion fluids. The drilling fluids
service line comprises the majority of the revenue for the division which
includes the design and implementation of drilling fluid systems for producers
drilling for oil, bitumen and natural gas. The DS division focuses on providing
products and systems that are designed for more complex wells, such as medium
to deep wells, horizontal wells and horizontal wells drilled into the oil
OS: The operations of the OS division include integrated fluids management
through frac pond rentals; waste container services; environmental services
which include pre-drilling assessment planning, drilling waste management,
remediation and reclamation of former wellsites, facilities, commercial, and
industrial properties, and laboratory services; pipeline integrity (inspection,
excavation, repair, replacement and rehabilitation); demolition, and
decommissioning. These services are offered throughout the WCSB. 
SECURE Energy Services Inc.
Rene Amirault
Chairman, President and Chief Executive Officer
(403) 984-6100
(403) 984-6101
SECURE Energy Services Inc.
Allen Gransch
Chief Financial Officer
(403) 984-6100
(403) 984-6101 
INDUSTRY:  Energy and Utilities - Oil and Gas  
-0- Jun/12/2014 20:30 GMT
Press spacebar to pause and continue. Press esc to stop.