ENSV - Enservco Shares Surge Following Acquisition Announcement

2024-03-20 11:14:08 ET

A Denver-based %Energy company is gaining a lot of traction on Wednesday after the company announced an agreement to acquire Buckshot Trucking LLC for $5.0 million dollar, which is made up of a combination of cash and common shares of the acquiring company.

Traders were excited on the news as they pushed shares of %Enservco (AMEX: ) up to $0.255/share (+26.24%) at the early session high. This move should be seen as confirmation of the recent support found at January levels for this micro cap.

Enservco Corp is a player in the oil and gas industry. It works in the conventional and unconventional oil and gas fields throughout the United States providing well enhancement and fluid logistics and management services to exploration and production companies operating in the U.S. onshore oil and gas industry. It functions through its subsidiaries namely; Heat Waves Hot Oil Service, Heat Waves Water Management, Adler Hot Oil Service, HE Services and Dillco Fluid Service. Its reportable business segments are Well Enhancement Services and Water Transfer Services.