Thread regarding Newpark Resources Inc. layoffs

Rig count 664

Down 64. Next stop 400

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Post ID: @OP+14idK7Lh

19 replies (most recent on top)

There are ONLY 17 rigs Working in the ENTIRE Gulf of Mexico and One Inland barge. Yes , I know some of the papers show GOM rig count at 32 or so. That number counts rigs Under Contract–The 32 rigs counted are not all working ( only under contract and drawing a specific day rate till their contract runs out) Last time i looked, nr had at least 4 offshore (water) stock points.

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Post ID: @cjjn+14idK7Lh

EST $165m sales with noooooo margin. Let’s spend more money for GOM😂😂😂😂

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Post ID: @czmx+14idK7Lh

Last Q of 2019 had Sales of $190 M and Lost $17M. Imagine what it is going to be like for 1st Q 2020 with $165M in Sales. Actual Results in 3 weeks.

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Post ID: @cadz+14idK7Lh

LAK was bad enough but her boy BC (HR in fluids) was the biggest POS ever. Lied every time he opened his mouth. Wouldn’t stop and piss on him if he was on the side of the road on fire.....

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Post ID: @baqk+14idK7Lh

lak what a piece of work she was. Right up ph's alley. I got a Big Picture of them playing a round together. How would you like to be in that foursome and have to listen to an id–tic, meaningless conversation for 4 or so hours.?

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Post ID: @8okf+14idK7Lh

And he can also put LAK in charge of the annual Newpark putt putt contest. They were Golf buds after all............

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Post ID: @7bzv+14idK7Lh

ph can set up a port-a can and tent over on his 3/4 acre Empty Lot in Carlton Woods , which he bought 6 years ago and has been paying property taxes and maintenance fees on ever since, and have a little pre-party stockholders meeting next month ( to avoid the corona virus meeting problems) with all his buddies and the bod to discuss EXECUTIVE Strategies for the rest of 2020. Don't you know the brain thoughts will be travelling a light speed at that Meeting. Give them plenty of time to go over the Bonus Plan (to pay bonus $$$ when you are losing money) and Stock Giveaways in 2020. gp and the lawyer can be in charge of arrangements since they did such on outstanding job on their last assigned task.

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Post ID: @7uol+14idK7Lh

The fact is Newpark cares nothing about ANYONE except for PH’s executive cronies. The sooner everyone realizes this, the better off you will be. Newpark staffs up when business is good, cuts you when any sign of a downturn appears. THE NEWPARK WAY!

In fact, they cut MANY 50+ employees in 2015-2016. Clearly age and wage discrimination at its finest. Do they care? Evidently not, same thing occurring 4-5 years later.

If you can’t see this, then you are clearly delusional. The old Newpark (pre 2015) has clearly left the building. Enjoy your time away from Newpark🤣🤣🤣

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Post ID: @7rmq+14idK7Lh

Slashing the 40 + workforce by hundreds that makes too much money. Just wait for the EEOC and class action considering they also canned the HR leaders. Enjoy the dollar share price while you can.

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Post ID: @7rwg+14idK7Lh

3-13 rig count –792 4-9 rig count–602 5-15 rig count guess? 450-460 Oil currently $23.20 After OPEC+ meeting

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Post ID: @6eor+14idK7Lh

Typical NP. The rich get richer, piss on the actual workers doing the work. Some things NEVER change...

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Post ID: @6jfh+14idK7Lh

The 14A Proxy statement is out. Enjoy. BTW, per the 14A , Piontek and Earle ( the lawyer) EACH got a $50,000 BONUS in 2019 " in recognition of their efforts toward implementing our New STRATEGIC Initiatives and Assumption of Additional Responsibilities for the Year". Wow AND we paid Consultants 7 seven figures to do WHAT?

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Post ID: @6pnu+14idK7Lh

Well, finally a pr. 1st Q 2020 sales will be down $24M from 4th Q 2019 (and this Q report was terrible). No statement on Earnings (due 5-5-2020) yet—but it will be Bad. While other companies are cutting top exec pay 30-50% - nr will give top exec's ONLY a 15% pay cut and nothing mentioned about cutting their auto allowances and /or club memberships. Mentions cutting regular employee numbers and pay but no specific numbers. No more match on 401Ks. US employment numbers out tomorrow and rig count Friday. Both predictions are not good.. Wonder if any board member knows what they cut regular employee salaries by?

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Post ID: @6rcy+14idK7Lh

Patterson-UTI Drilling Entire Executive /Mgt team takes a 50% PAY CUT. They have apprx 15-18% of the rigs working in the US.

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Post ID: @4vfa+14idK7Lh

The Board and Exec Mgmt of NR simply do not have a Brain. Put ignorant, folks. They will try and sell it off.... or pay someone to take it off their hands.

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Post ID: @3dfc+14idK7Lh

Another brilliant move by nr Management AND the BOD . Per the 10K , in January , 2019 NR repurchased 655,666 Shares of NR Common Stock for $5,000,000.00 or apprx $7.62 /per share. At present price of $.70 cents /share that $5M Investment is now worth $459,000.00 .

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Post ID: @2hll+14idK7Lh

The OPERATING Income (Not Net Income) for the 4th Q of 2019 for the Drilling Fluids Segment Was MINUS 13%. The Operating Income for the Mats section during the same Period was 27%. Looking for a $4-5M total Net income Loss number for 1st Quarter 2020 for NR Total NET income was 0.5% for ALL of 2019 for NR

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Post ID: @1doe+14idK7Lh

They can hire the same consulting firm for $1-2M rate they hired last year to tell them what to do.

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Post ID: @1ske+14idK7Lh

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