Great Prairie Energy Services Inc. Announces Financial Results for the Third Quarter of 2014

CALGARY, ALBERTA--(Marketwired - Nov. 26, 2014) -

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Great Prairie Energy Services Inc. (TSX VENTURE:GPE) ("Great Prairie" or the "Company") is pleased to announce its financial results for the three and nine month periods ended September 30, 2014. The full text of Great Prairie's third quarter report containing its unaudited interim financial statements and the related MD&A are available under the Company's profile on SEDAR at www.sedar.com.

Third Quarter Financial Highlights:

1. Revenue of $10.2 million for the three months ended September 30, 2014.
2. EBITDAS of $3.5 million for the three months ended September 30, 2014.
3. Capital expenditures of $2.5 million.

The third quarter was marked by a strong operational effort focused on integration of the Company's May 15, 2014 acquisition of oilfield rental, hauling and frac fluid businesses from Calmena Energy Services Operating Limited Partnership and Calmena Energy Services Inc. ("Calmena").

Activity levels in the quarter were high and the outlook for the remainder of 2014 remains positive with continuing strength despite the current weakness in WTI crude oil pricing. The fall in $U.S. WTI has, in Canada, been somewhat tempered by a stronger U.S. foreign exchange rate and strong capital markets activity and equity financings in the first three quarters of the year which reduced debt levels and provided capital to exploration and production companies.

Beyond 2014, the Petroleum Services Association of Canada ("PSAC") is forecasting 10,100 wells will be drilled in 2015 compared to their 2014 forecast of 10,830 wells. The Company has been monitoring 2015 exploration and production company budgets and expects activity levels to persist through to spring break-up in the first quarter of 2015. The Company has less visibility into the second half of 2015 and possible impacts of a sustained drop in WTI crude oil price.

With the major integration of the Calmena assets complete, the Company will focus on operational best practices and continue to build operational flexibility in its captured asset base.

The Company continues to evaluate strategic acquisition opportunities to increase market presence in existing operating areas as well as add operations in new geographic locations.

About Great Prairie Energy Services Inc.