some joining our press over today. the provide as Jay. thanks call am going QX overview a Today, Welcome, a results of financial well XXXX. the on quarter the will events to brief of issued for recent the the on will for be as performance focused and what for turn of then we release I closed. to first I our remainder macro and Margie everyone call we market comments numbers. Thanks, after XXXX recap
and weathering particular are of begin saying you state. of impact by are I the to want well social all I your shutdown distancing hope whatever in facing mandates and you
to waters no And our learning doing time least at living at an that governments, individuals You are on exception. instruction lifetimes. are navigate in best uncharted are manual this absent and is times fly their the Enservco pandemic certainly businesses, extraordinary in for
virus are and Fortunately, remarkably our for by and been grateful we that. workforce the unscathed have staff
observing am happy have customers and we social to about field I corporate interacting and to returning have the distancing and back with when best remotely part for most our are our safety slowly working the been colleagues. Our staff practices. office been personnel vigilant say corporate
first the we provides mission-critical severe of reduced Nevertheless, essential most our the work and by doing business to impact The drilling of oil has country’s mix revenue economic leading in interrupted contributor shutdown along it’s and component the orders. on gas been slowdown earlier are Enservco quarter which the activity, work our Because our pandemic is caused oil price producers, services amount the customers. completions not deemed by the we the to being an largest and and metrics. profit are collapse largest our our is for with
Oklahoma On an unseasonably Pennsylvania, top winter in decline of into heating services we had a in translated those and warm sharp locations. that, which in
same million the As reported quarter net QX quarter from to year. XX% typically revenues what of $X.X a loss result, most $XX.X million our last $X.X $X.X in is the same a of million million net year, profitable a we versus profit of quarter year. last In declined the
But not something times. as EBITDA are We possible also extraordinary we X said, reported ago. months we would I adjusted even have of in living negative thought
regarding to our industry services is a now There specifically nothing created peers right war. in Saudi-Russia weakness due can price downturn price The entire are is oilfield macro do demand these the to by in facing economic unprecedented trends. plummeting headwinds oil related we the pandemic – difficulty both and the
the related upside we are position when and exercise focused on market over market So further control we the our returns. the eventually can’t strengthen to leadership things
foremost, the First taking are and to of drive steps business. additional we cost out
related million to redundant Hot of we costs XXXX, that in $X.X You in Oil will half recall Adler the our second eliminated acquisition.
location. have we XXXX business our transfer alone. EBITDA in contributed in $X facility taken We $X.X of burn Oklahoma after closed additional that We across million have serving downturn. in organization. in annualized facilities, workforce and in from operations those last instituted had reduced our benefits favor year also water customers scaled two nearly We Thus remotely we out our back closed the costs. excess XXXX, We Colorado pay our million And due far capacity reductions other XX%. where total by to the we
In $XXX,XXX. addition, by maintenance CapEx approximately we have budget reduced our
some us primarily major made development. Another area through area and year, our have is We momentum of focus the Adler into first last in quarter. this carried for customer of strides that acquisition new
We couple these hasn’t areas are customers in It us. Texas and smaller for are that significant competitive in and advantage are customer and the that discussions we particularly water and geographic and largest remind nation’s the have heating broad of one North will new our a our door frac several coverage a of I us. has struggling of oiling fleet that work hot size you is heard our services provider prospects, Dakota. with promising with in additional competitors opened the for
our mentioned we is a outside business afternoon, hopeful conjunction say, provide options done earnings prepared in and and they are our positive further at we very details time. forward. with not our continue field difficult our administrative by not key this to time, to running discussions outcome moving I debt keeping for who in These to and to forward that extraordinary all remarks up going on able this ongoing but As an lender this my debt. a our restructure will during and priority result to challenging for and am job we close work will concerns. are personnel again Suffice in us advisors reduction have our with release I
call turn of our the a highlights. And Margie? that, will to review financial I over Margie so with for
