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Stock impact report

Enerflex Ltd. Provides Update Related to Kurdistan Project [Yahoo! Finance]

Enerflex Ltd Common Shares (EFXT) 
Company Research Source: Yahoo! Finance
a modularized cryogenic natural gas processing facility in Kurdistan (the “EH Cryo project”). As previously announced, during the second quarter of 2024, Enerflex suspended activity at the EH Cryo project, demobilized its personnel and provided its customer with notice of Force Majeure following a fatal drone attack at an adjacent facility. Due to the continuing Force Majeure and circumstances that make it impossible for Enerflex to fulfill its obligations under the EH Cryo project contract, Enerflex today provided its customer with formal notice of termination. As previously announced, Enerflex's customer has commenced arbitration proceedings against the Company, asserting certain baseless and unsubstantiated claims. Enerflex is disputing these claims and, following today's termination, Enerflex will seek to recover amounts owing in connection with the EH Cryo project. At the end of Q3/24, the net asset position associated with the EH Cryo project was $161 million. Approximatel Show less Read more
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