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Subject: Environmental, Social, and Governance Criteria

Essential Energy Services Issues Inaugural ESG Report

CALGARY, Alberta, June 29, 2023 (GLOBE NEWSWIRE) -- Essential Energy Services Ltd. (TSX: ESN) ("Essential" or the "Company") is pleased to announce the release of its inaugural Environmental, Social and Governance ("ESG") Report. While Essential has been reporting its ESG highlights through the Company's Annual Information Form since 2019, this formalized report is a significant milestone for Essential as it demonstrates to shareholders and other stakeholders its commitment to meeting evolving ESG reporting expectations.

The ESG Report showcases the work of Essential's employees who provide services in an ESG responsible manner to meet the expectations of customers and communities in which the Company and its employees live and work. The Report provides enhanced transparency regarding the Company's ESG efforts and approach to managing ESG factors that have the greatest potential to impact Essential's value and success in the delivery of oilfield services in today's competitive marketplace.

"Our approach to ESG has been foundational to our operations for many years as we have led with the core belief that our services should be performed with care and attention to the safety of each other and the environment," said Garnet Amundson, President and CEO.

Building on the Company's commitment to ongoing transparency and disclosure, the ESG Report has been prepared in alignment with the Sustainability Accounting Standards Board ("SASB") Oil & Gas ? Services Sustainability Accounting Standard.

The ESG Report can be accessed on Essential's website at www.essentialenergy.ca.


This news release contains "forward-looking statements" and "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "continues", "plan", "projects", "potential", "budget" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward looking statements pertaining to: meeting ESG reporting expectations; the impact of ESG factors on the value and success of Essential.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements are made, undue reliance should not be placed on the forward-looking statements because the Company can give no assurances that such statements and information will prove to be correct and such statements are not guarantees of future performance. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual performance and results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to known and unknown risks, including those set forth in the Company's Annual Information Form (a copy of which can be found under Essential's profile on SEDAR at www.sedar.com). Accordingly, readers should not place undue importance or reliance on the forward-looking statements. Readers are cautioned that the list of factors is not exhaustive.

Statements, including forward-looking statements, contained in this news release are made as of the date they are given, and the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with applicable securities regulatory authorities and may be accessed under Essential's profile on SEDAR at www.sedar.com.

Essential provides oilfield services to oil and natural gas producers, primarily in western Canada. Essential offers completion, production and wellsite restoration services to a diverse customer base. Services are offered with coiled tubing, fluid and nitrogen pumping and the sale and rental of downhole tools and equipment. Essential offers one of the largest active coiled tubing fleets in Canada. Further information can be found at www.essentialenergy.ca.        

The TSX has neither approved nor disapproved the contents of this press release.

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