Next stop 400. Cowboy up, this ain’t no 8 second ride
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Folks, it’s looking like rig count could go as low as 250-300. If so, many service companies go Ch 11 or sell out for pennies on the dollar. Either way, bad for the home team. Watch and wait.......
Agree –it could be closer to $10M for 1st Q Loss. and probably another $10M or so in 2ndQ My guess on US rig count
on 5th June 2020. 385 Currently 529 Rigs Even with Crazy oil pricing on Monday. Expect pricing, after Tuesday (for June contract), to be no more than $18-22 for the next week or so. EIA storage number Thursday AM.
I expect $10-12m loss for q1. Newpark’s margins NEVER recovered the past 5 years, lower pricing for many operators before the bust. The bottom has fell out the past 30 days
nr Lost $13M in 2019. Will probably lose $5-6M for 1st Q 2020 when reports in 2 weeks and probably about same amount for 2Q 2020. BUT ph , even with the pay cut, STILL takes home a cool $58,000 /Month plus $1650/month Allowance for Losing $$$. Next to Unbelievable. bod need to turn in resignations.