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Last C$0.07 CAD
Change Today -0.005 / -6.67%
Volume 5.3K
As of 9:30 AM 10/2/15 All times are local (Market data is delayed by at least 15 minutes).

hanwei energy services corp (HE) Snapshot

Previous Close
Day High
Day Low
52 Week High
10/6/14 - C$0.18
52 Week Low
08/26/15 - C$0.0050
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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hanwei energy services corp (HE) Details

Hanwei Energy Services Corp., through its subsidiaries, manufactures and sells high pressure fiberglass reinforced plastic pipes for the oil and gas, salt mining, water transmission, and industrial and infrastructure applications in the China, Middle Asia, and the Middle East. It operates through two segments, FRP Pipe Business and Oil and Gas Business. The company offers a range of pipe diameters, fittings, and fixtures, as well as connection methods. Its products include line pipes, such as anhydride and amine cured pipes; connecting systems comprising API thread, DSJ, rex-bonding, and rex-lock key connecting systems; downhole pipe and casing products; and fittings and flanges for piping systems, including elbows, equal tees, reducing tees, flanges, reducers, saddle reducers, couplings, and nipples. The company also owns and operates petroleum and natural gas production assets. It holds interests in the Leduc Lands covering an area of 5,000 acres located near Edmonton, Alberta, Canada. As of March 31, 2015, Hanwei Energy Services Corp. had a total proved reserves of 681.3 thousand barrels of oil equivalent (Mboe); and total proved and probable reserves of 1,303.7 Mboe. The company was formerly known as Y&O Ventures Corp. and changed its name to Hanwei Energy Services Corp. in December 2006. Hanwei Energy Services Corp. was founded in 2002 and is headquartered in Vancouver, Canada.

210 Employees
Last Reported Date: 06/18/15
Founded in 2002

hanwei energy services corp (HE) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: C$125.0K
Chief Financial Officer and Member of Disclos...
Total Annual Compensation: C$153.1K
Executive Vice President of Strategic Develop...
Total Annual Compensation: C$125.7K
Compensation as of Fiscal Year 2015.

hanwei energy services corp (HE) Key Developments

Hanwei Energy Services Corp. Executes Lease Issuance, Drilling Commitment Agreement

Hanwei Energy Services Corp. announced that it has executed a lease issuance and drilling commitment agreement with a Canadian company (the lessor) for certain oil and gas interests occupying some 9.5 sections (approximately 6,000 acres) located approximately five kilometers south of Chestermere, Alberta. Under the terms of the commitment agreement the company has been granted exclusive production rights within the Chestermere Lands on the basis that it drills and completes at least one oil and gas well to a depth of 2,100 meters within an initial two-year term ending on July 30, 2017. Upon completion of this drilling commitment the primary term would be extended for a further one-year period ending on July 30, 2018. The lessor would issue a petroleum lease to Hanwei for each quarter section oil well spacing unit drilled by Hanwei during the aforementioned three-year period. Hanwei has paid to the lessor at execution of the commitment agreement consideration (including a primary term rental) of approximately $88,000. The lessor will receive a royalty payment of 17.5% of the market value of all petroleum substances produced, saved and marketed by the company from the Chestermere Lands.

Hanwei Energy Services Corp. Reports Earnings Results for the First Quarter Ended June 30, 2015

Hanwei Energy Services Corp. reported earnings results for the first quarter ended June 30, 2015. Total revenues were some CAD 1.7 million as compared to CAD 3.2 million for same period of the prior year with both segments of the Company impacted by the downturn in the oil and gas industry. EBITDA from continuing operations totalled some negative CAD 0.5 million as compared to negative EBITDA of CAD 0.1 million for the same period of the prior year. Negative EBITDA was primarily driven by corporate expenses and losses from the FRP pipe segment. The Company had a loss from continuing operations of CAD 1.5 million as compared to a loss from continuing operations of CAD 1.2 million for the same period of the prior year. The increase in loss from continuing operations was primarily due to the aforementioned reduction in FRP pipe sales.

Hanwei Energy Services Corp., Q1 2016 Earnings Call, Aug 06, 2015

Hanwei Energy Services Corp., Q1 2016 Earnings Call, Aug 06, 2015


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