Enservco(US:ENSV)2019-08-15 19:34Company Overview - ENSERVCO is a leading provider of well enhancement and water transfer services to domestic onshore oil and gas customers[5] - The company serves over 360 customers, with over 145 under Master Service Agreements[7] - ENSERVCO's primary services include frac water heating, hot oiling, acidizing, and water transfer[5] Financial Performance - Total revenue for the first six months of 2019 was $33.4 million, up 19% year-over-year[22] - Adjusted EBITDA for the first six months of 2019 was $5.1 million, up 16% year-over-year[22] - Full year 2018 revenue was $46.9 million, a 27% increase year-over-year[23] - Adjusted EBITDA for 2018 was $4.9 million, a 29% increase year-over-year[23] Service Lines - Frac water heating accounted for 58% of 2018 revenue[13, 18] - Hot oiling accounted for 25% of 2018 revenue[11, 18] - Water transfer accounted for 9% of 2018 revenue, growing from 6% in 2017[16, 18, 19] - Acidizing accounted for 6% of 2018 revenue[15, 18] Fleet and Expansion - The company's revenue capacity has more than doubled since 2014 due to fleet investments and acquisitions[20] - The company has 52 frac water heating units, 70 hot oil trucks, and 7 acid transports[11, 13, 15]