Total Energy Services Inc. (TOT) 2017年年度报告「TSX」.pdf

1、FOCUS DISCIPLINE GROW THAnnual Report 20172017T O TA L E N E R G Y S E RV I C E S I N C.MANAGEMENTS DISCUSSION AND ANALYSISreport to shareholders 1managements discussion and analysis 2managements responsibility for financial statements 26independent auditors report 27consolidated financial statement

2、s 28notes to consolidated financial statements 32corporate information 65Total Energy Services Inc.(“Total Energy”or the“Company”)is a public energy services company based in Calgary,Alberta that provides a variety of products and services to the oil and natural gas industry through its subsidiaries

3、 and aboriginal partnerships.Total Energy is involved in four businesses:contract drilling services,the rental and transportation of equipment used in the drilling,completion and production of oil and natural gas wells,the fabrication,sale,rental and servicing of new and used natural gas compression

4、 and oil and natural gas process equipment and well servicing.Together these businesses provide a platform for building long-term shareholder value.Total Energy has achieved its growth by maintaining a disciplined acquisition strategy and undertaking strategic internal growth.The shares of Total Ene

5、rgy are listed and trade on the Toronto Stock Exchange under the symbol TOT.T O TA L E N E R G Y S E RV I C E S I N C.REPORT TO SHAREHOLDERS1F O C U S D I S C I P L I N E G R OW T H2017 was a transformative year for Total Energy Services.For the first half of the year our focus was on completing the

6、 acquisition of Savanna Energy Services,which occurred in June after a long and,at times,challenging process.Our focus during the second half of the year was on achieving the significant cost synergies we believed were attainable by integrating Savanna and Total Energy.With the exception of remediat