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.
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 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]
Operationsedit
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]
Controversyedit
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]
In July 2021, Secure acquired Tervita after the expiry of the statutory waiting period and having defeated an emergency injunction application brought by the Commissioner to prevent closing of the Merger. Secure therefore closed “at risk” knowing that its ownership of the Tervita business would be subject to complex, ongoing litigation that could ultimately result in significant divestitures.[9]
In March 2023, the Competition Tribunal ruled in favor of the Commissioner of Competition in his challenge of Secure Energy Services’ acquisition of Tervita Corporation. The Tribunal ordered Secure to sell 29 facilities to resolve the substantial lessening of competition found in 136 relevant markets.[10]
Referencesedit
^ abc"How a successful IPO helped Secure Energy Services grow - Alberta Oil Magazine". Alberta Oil Magazine. 2013-04-11. Retrieved 2018-02-27.
^"Secure Energy closes C$57.5 mln initial offering". Reuters. 2010-03-30. Retrieved 2018-02-27.
^ abc"Canadian water treatment companies cash in on U.S. shale development - Alberta Oil Magazine". Alberta Oil Magazine. 2014-07-09. Retrieved 2018-02-28.
^"Oilfield services companies face a 2016 where there's little left to cut". Financial Post. 2015-12-30. Retrieved 2018-02-28.
^"Mergers, acquisitions gain pace as oilfield service companies boost scale in search of lower costs". Calgary Herald. 2017-05-17. Retrieved 2018-02-28.
^ ab"Processing, Recovery and Disposal LOCATIONS" (PDF). Secure Energy.
^ abc"'It is a disgrace': Community opposes proposed oilsands landfill south of Fort McMurray". CBC News. Retrieved 2018-02-28.
^"Health, Safety, and Environment | Secure Energy". www.secure-energy.com. Retrieved 2019-01-03.
^Kilby, Michael (2023-08-11). "Commissioner Wins Secure Energy Appeal: Key Takeaways". Stikeman Elliott.
^Canada, Competition Bureau (2023-03-07). "Competition Bureau successful in challenge of Secure and Tervita merger". www.canada.ca. Retrieved 2023-09-07.
April 11, 2024
secure, energy, services, canadian, public, energy, services, company, based, calgary, alberta, specializes, oilfield, waste, treatment, disposal, listed, toronto, stock, exchange, company, typepublictraded, astsx, sess, composite, componentindustrymidstream, . 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 Secure Energy Services Inc Company typePublicTraded asTSX SESS amp P TSX Composite ComponentIndustryMidstream InfrastructureFounded2007FounderRene AmiraultHeadquartersCalgary Alberta CanadaKey peopleRene Amirault President and Chief executive officer Websitehttp secure energy com Contents 1 History 2 Operations 3 Controversy 4 ReferencesHistory editSecure 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 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 editSecure 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 editIn December 2017 local residents and Metis 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 In July 2021 Secure acquired Tervita after the expiry of the statutory waiting period and having defeated an emergency injunction application brought by the Commissioner to prevent closing of the Merger Secure therefore closed at risk knowing that its ownership of the Tervita business would be subject to complex ongoing litigation that could ultimately result in significant divestitures 9 In March 2023 the Competition Tribunal ruled in favor of the Commissioner of Competition in his challenge of Secure Energy Services acquisition of Tervita Corporation The Tribunal ordered Secure to sell 29 facilities to resolve the substantial lessening of competition found in 136 relevant markets 10 References edit 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 Secure Energy closes C 57 5 mln initial offering Reuters 2010 03 30 Retrieved 2018 02 27 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 Oilfield services companies face a 2016 where there s little left to cut Financial Post 2015 12 30 Retrieved 2018 02 28 Mergers acquisitions gain pace as oilfield service companies boost scale in search of lower costs Calgary Herald 2017 05 17 Retrieved 2018 02 28 a b Processing Recovery and Disposal LOCATIONS PDF Secure Energy a b c It is a disgrace Community opposes proposed oilsands landfill south of Fort McMurray CBC News Retrieved 2018 02 28 Health Safety and Environment Secure Energy www secure energy com Retrieved 2019 01 03 Kilby Michael 2023 08 11 Commissioner Wins Secure Energy Appeal Key Takeaways Stikeman Elliott Canada Competition Bureau 2023 03 07 Competition Bureau successful in challenge of Secure and Tervita merger www canada ca Retrieved 2023 09 07 Retrieved from https en wikipedia org w index php title Secure Energy Services amp oldid 1189433554, wikipedia, wiki, book, books, library,
