Thread regarding Newpark Resources Inc. layoffs

Why does NPDF sell below cost?

That ain’t gonna stop the bleeding in US fluids boys. Negative margins are negative margins no matter how you slice it...

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Post ID: @OP+14WqueRm

19 replies (most recent on top)

Oxy lost a boatload of $$$ during the past year. And they CUT the Top Salary for ANY Executive to $250K/year, and how many employees does Oxy have compared to nr. (This after BP cut their Top Leadership positions in half). Think nr would do this– yeah right. These misfits could not make money if they had their own Printing Press. Predicted to lose 6 cents per share for present Quarter. That will probably be on the generous side. And this after the 900K share slush fund giveaway.

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Post ID: @jybp+14WqueRm

Article out on web yesterday to Google with title of "Why US energy CEO's will get big Payouts despite Oil Meltdown". Got the perfect candidate located.

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Post ID: @ffbj+14WqueRm

API crude oil inventory UP 8.7M bbls for Last Week.. All that Mid-East crude starting to find a home and More on the way. and for the joke of the day , NR is adopting a Share holders right plan to protect against a Takeover. I Know, pretty unbelievable, but the brilliant BOD believes the company is undervalued and some mystery Person is going to come and buy all the stock needed to engineer a takeover at this "distressed" price. What is the saying " A Fool and his Money are soon Parted".

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Post ID: @feed+14WqueRm

What can you say. The perfect car for commuting from River Oaks to the Woodlands ( never sold a sack of mud or checked a well along the way). Car at the Company's expense. Just Wondering for a moment, if ph knows one lives in a house with Twice the Appraisal value of ph's.

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Post ID: @dipf+14WqueRm

Just like the sweetheart deal given to PV. There was absolutely NO way anyone would have hired him from NP, what does PH do? Let’s give him a contract so he can walk away with a cool $1.5m for doing absolutely NOTHING - unless you count his INCOMPETENCE!

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Post ID: @cwgn+14WqueRm

A dime a dozen company lawyer ( in this day and age) gets 131,000 shares of free stock. Not to mention a Car Allowance to drive back and forth to the office. Answer me this. Where else is he going to go and get this kind of deal ?. He got laid off from the last company he worked for before coming to nr. Oh , i get it now–cut the salary and give free stock to make up for it? Duh-huh. Did the everyday employee get this type deal?

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Post ID: @bgkd+14WqueRm

Judging the actions of the Board, they don’t give a flip! The complete illiteracy of this executive management team is insane. Bad decisions followed by more bad decisions. How to run a mud company into the ground 101. Author: PH with forewords by PV

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Post ID: @adgh+14WqueRm

US rig count down to 318 rigs . Probably right at 300 or so next week.

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Post ID: @9uyl+14WqueRm

NR just gave out over 940,000 shares of restricted stock to the top 6 people. ph got 415,000 shares alone. The hits just keep on coming. It just can't get any better.

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Post ID: @9bci+14WqueRm

BP just announces they will cut their Leadership Positions in HALF. Going from 250 to apprx 120 people.

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Post ID: @9czi+14WqueRm

nr's laundry list of problems cannot be solved by the magic wizard. A complete redo is needed starting directly at the Top 2 places. It's that simple. The people with the true Drilling Fluids Knowledge and true Customer Relations that made nr a success all left by late 2015, as stated. (Bottom line, could not take ANY more of pv). So, Top mgt more or less admitted LATER they totally screwed up the situation by showing pv the highway in Nov 2018. It was TOO Late, the Damage had been done. The Mistake was TOO Big. Hal and Slb can overcome these mistakes DUE to their Size and Strength. This is simply Not the case for Little nr. The bod is knee deep in letting this situation continue. They are obviously as Uninformed as TM.

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Post ID: @9dsp+14WqueRm

The fact is (since 2015) the new regime in fluids has failed miserably to attain decent margins. In fact, their performance has been abysmal. Sad but true....

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Post ID: @8mkm+14WqueRm

And least we forget. The Fluids Division had a MINUS 1.7% Product Operating Margin in the 1st Quarter of 2020. Straight off the 10Q.

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Post ID: @8xqq+14WqueRm

For the record. SLB just announced that they are restructuring their operations and their entire Executive team. The Executive team previously got a 20% Pay cut- NR only did 15%. On NR- Just look at the Operating Income for the Fluids side for 2019 was ONLY $3.8M vs Mats Operating Income for the same period of $47.4M. The Corporate Office expense WAS $40.8M LEAVING a Operating Income (not net income) of ONLY $10.4M for NR . ( The Corporate office expense was Nearly 13 times the size of NR's Fluids division Operating Income). And this piss poor performance occurred with Fluids Division having OVER 3 times the Total Sales as the Mats Division. Essentially the same thing happened in 1st Q of 2020 and will be like that for 2nd Q of 2020. Tell me those aren't the facts. Maybe nr needs to take a page from the SLB playbook (probably need to get the Whole playbook). As an aside , HAL cut their dividend 75%. nr has no dividend to cut.

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Post ID: @8gcb+14WqueRm

They are blocking individuals IP address from posting the truth.

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Post ID: @7chl+14WqueRm

someone must be monitoring this board seems as if a couple of recent posts have been taken down

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Post ID: @6eme+14WqueRm

Now. There is a Name From the Profitable Past.

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Post ID: @5cqt+14WqueRm

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