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"Revenue for the three months ended March 31, 2019 was $47 million, a 21% decrease from the first quarter 2018, due to lower activity. This decrease was similar to the decline in industry activity in the Western Canadian Sedimentary Basin. EBITDAS was $7.5 million, $1.6 million lower than the first quarter 2018, due to lower revenue, partially offset by cost savings and the impact of adopting IFRS 16.
Essential continues to have low debt with long-term debt on March 31, 2019 of $12.8 million. Funded debt to bank EBITDA was 0.7x."
– Garnet Amundson