Thread regarding Newpark Resources Inc. layoffs

Lack of confidence in NP leadership

Dow up 1,100 points, NP down 18%. Many oil stocks up

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| 1146 views | | 6 replies (last )
Post ID: @OP+13Ugib7U

6 replies (most recent on top)

Stock Mkt futures down the Max limit for Monday am stock mkt open (over 1000 Points). Currently, Oil at $31 and NG @ $1.82 and SA and Russia pumping at the MAX. 10Yr Treasury trading at $.66 % Yield. Nr has not announced ANY Definitive Action Plan on Go Forward basis that i have seen for the future. Monday could Well be the Day nr slips under a $1/share. Maybe bod decided to go on Spring Break.

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Post ID: @6jbj+13Ugib7U

Tetra is trading at $0.42 cents. nr would be trading lower than that– if not for the Mats Division.

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Post ID: @4hzs+13Ugib7U

Have not seen any announcements of Senor Executive Management taking ANY type Pay Cuts, Giving up Company cars/ Car Allowances (for cars they drive back and forth to work and are not on 24 Call), country club memberships and dues for Non Selling and Hanger on Executive types (including lawyers), and Restrictions on awards of company stock and Eliminating Bonus Plans.. Probably don't have to Worry about any Stock Options since EVER PRESENT STOCK OPTION is out of the money by more than $2 and most are out of the money $6-8

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Post ID: @3jlb+13Ugib7U

Most operators cutting capex 30% or more. Many on the brink of bankruptcy before this crisis, now are completely underwater. Service companies about to eat major $$$ for unpaid invoices/poor credit. Huge amounts of $$$ coming due from 20-22. No credit for ANYTHING related to oilfield. Hedges may not mean anything-only worth paper that it’s written on. Rig count going to 600-650. Book it. CASH IS KING

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Post ID: @2eqs+13Ugib7U

FWIW -First indications are the rig count in US should drop 15-20% by mid summer. Rig count now 790. If the 15-20% reduction occurs, then Looking at apprx 650 -680 rigs drilling. It will be ugly.

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Post ID: @1wyi+13Ugib7U

Hit the Lucky Thirteen, that is— $1.13

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Post ID: @1ojb+13Ugib7U

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