News Column

Disruptive Oil Services Company, NXT Energy Bolsters Outlook After Strong Earnings

May 23, 2014



Category: Baystreet Newswire

Company: Global Metal News

ID: 415999

Date: Friday, May 23, 2014

Ticker: TSX.V:SFD

TORONTO / ACCESSWIRE / May 23, 2014 / Posting a Q1, 2014 profit margin of 66% is an unexpected bonus for a disruptive technology company. But NXT Energy Solutions (SFD-TSX.V) did that implementing its proprietary SFD technology that identifies trapped oil and gas reservoirs at stage 1 of the exploration cycle. On May 22, 2014 the company reported Net Earnings of $2.6 Million for Q1 2014 on Revenues of $3.9 million. Thats a profit margin higher than Google (GOOG-NASDAQ), Exxon Mobile (XOM-NYSE) or Facebook (FB-NASDAQ). New technology companies normally hemorrhage money for a decade while NXT is adding to the treasury. Image: http://www.accesswire.com/images/317/SFDmay22.jpg "Our Q1-2014 results generated very profitable operations," stated Liszicasz, "and has put us in one of the strongest working capital positions in our history. Dealing with National Oil Companies and other exploration companies can be a long process, but we feel that our ongoing perseverance will continue to be rewarded." With a typical frontier exploration well costing $40 million, oil companies are looking to reduce drilling risk. One of NXTs clients, PEMEX - the National Oil Company of Mexico - spends billions of dollars a year on exploration. PEMEXs stated agenda is to partner with technology companies to increase drilling efficiency and production rates. NXTs proprietary Airborne Survey Technology significantly reduces the cost and time of oil exploration. SFD(R) (Stress Field Detection) technology detects orientation changes in the horizontal gravity field and provides prospect anomalies for clients to follow up with additional exploration tools. NXT recently achieved a ranking in the 2014 TSX Venture 50, from over 2,100 companies listed on the TSX Venture Exchange. Specifically, NXT was ranked #8 in the Diversified Industries category. The TSX Venture 50 is a ranking of the prior years top performers on the TSX Venture Exchange, spanning the Clean Technology, Diversified Industries, Mining, Oil & Gas and Technology & Life Sciences sectors. NXT currently has $8 million in cash, Developing and marketing a truly disruptive technology is no small challenge. Big publically traded oil companies tend to stick to what they know. NXTs challenge is continue to impress the existing national and private clients, and to add demonstrable value to their oil and gas exploration campaigns. Stress Field Detection has the potential to the change the way big oil does business. Pemex has bought in. It is certainly unusual for a technology company to post robust profits this early in their growth cycle. NXT Energy is currently trading at $1.00 with a market cap of $44.7 million. SOURCE: NXT Energy Solutions


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Source: ACCESSWIRE (Canada)


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