Business
SECURE Energy Provides Operational and Corporate Update, Capital Spending Cut and Dividend Reduction
SECURE Energy Provides Operational and Corporate Update, Capital Spending Cut and Dividend...
About this update from Secure Waste Infrastructure Corp.
[{"type":"text","content":"\n\n\n\nSECURE Energy Provides Operational and Corporate Update, Capital Spending Cut and Dividend Reduction\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, March 24, 2020\n\n\n\nCALGARY, March 24, 2020 /CNW/ - SECURE Energy Services Inc. (\"SECURE\" or the \"Corporation\") (TSX – SES) announced today an operational and corporate update on the actions SECURE is taking in response to the COVID-19 pandemic and the rapid decline in global energy prices.\nIn response to the COVID-19 pandemic, SECURE's action plan is focused on protecting the health of its employees, families, communities and other stakeholders. Safety is the Corporation's first priority and it continues to take steps to protect the health of its staff and the public in response to the COVID-19 pandemic. In line with recommendations from government authorities, SECURE employees are working from home unless required by business-critical functions and field operations. In addition, SECURE has implemented multiple business and operational continuity plans to ensure uninterrupted service to our customers. \n\"I want to thank our dedicated employees who are doing their part to slow down the spread of the virus to protect our health care system and those most vulnerable within our communities, while continuing to fulfill their work-place responsibilities from home. Despite unprecedented circumstances, we are executing well and are confident that we can meet the expectations of all SECURE stakeholders,\" said Mr. Amirault, SECURE's Chairman, President and Chief Executive Officer.\nGlobal energy prices have experienced a significant and rapid decline based on over supply concerns and the reduced demand resulting from COVID-19. The prudent response from SECURE's customers has been to significantly reduce capital spending in 2020. This decision will impact both drilling and completions activity in 2020 and will also have an impact on production volumes that are shut in due to uneconomic crude oil prices or production that naturally declines due to lower capital spending. Given these m...