Down 13. Not good for any service company
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CHK gust filed bankruptcy today.
"same boat as Anchor"- as in Chap 7 as of May 2020?.
10-4. Telling Noah about the flood. Was just curious your thoughts on market share they may have. See that Wyoming had 32 rigs running last year - Zero now, Oklahoma 102 rigs last year —10 now. Total GOM and Inland barge-11 now. New Mexico 99 last year–50 now. Canada 124 Rigs last year—13 Now. US horizontal 233 now of 265 Total Rigs. Total sideways last year 850 rigs.
Rig count/market share means nothing when you are selling at cost or wholesale for market share. Post 2015, NDF has failed miserably at any kind of profitable fluids business. If it weren’t for the NESI sale and mats biz, NP might be in the same boat as Anchor. The problem in fluids is they have NO ONE who can sale on relationships. Their ONLY success is undercutting other vendors. My .02
XOM to layoff 5-10% of reviewed employees in the next 6 months.
B— Rig count in North Am 278 (US +Canada)—What is your swag on nr's present rig count in NA?
NG now $1.47 and Oil @$38. $38 -$42 oil is worst scenario possible. No one can make any money and no one will quit/shut in. Goes over $42 and here comes the Permian back in full force. Anything under about $2 is bad for NG and it is a Buck 47. With NG inventory apprx 700+B's ahead of last year. The whining on the conference call is going to be unending.
And ML spent 45k on a custom conference room table. The entitlement is sickening.
AES is soundly kicking NP’s Butt in Canada and US.
see that they have taken on their latest shill out of NY to push the stock. " A LEADING Provider of drilling fluids with a Global presence" Yeah right. What you figure their market share vs Hal and Slb and others 10-15%? "Worth more liquidated then alive"– yeah right. Maybe for "some" of Mats assets. Who needs more assets in the Worst drilling fluids market in memory- including ALL that office space and idle equipment, empty and under used warehouses, mud plants, inflated executive office staff, etc,etc. Oh, how could I forget the MB's and BMW's in the parking lots. And the best for last . "An INTERESTING ( now that is a special description of your products ) Portfolio of Products and Services". Remember , we are talking about a mud company here in a DOWN market in which the OIL company as Operator is trying to CUT SERVICE Company costs ANY way possible..
Last Quarter sales was $164 M and Lost Money. This Quarter sales estimates $110-115M, Lose MORE Money.
The new Prez is getting a mouthful of what It’s like to work for an independent mud company. So far, failing miserably
Can't argue with your numbers -just think .14-16 cents share /Loss is a Gut Cinch (90M shares). But will it get the BOD attention. I doubt it. Remember the Leader is a guy whose TOTAL Oilfield related experience, prior to joining NR in 2006, was asking for directions to the gas station to fill up his MB. Prior engagements in St Louis and Michigan or not considered oilfield hot spots.
I say $17-20m Q2 loss. Wait and see
$14-16 Million LOSS looks assured for 2nd Quarter with No relief in Sight at Present Way Too Much Overhead. With Bean counters running co with No Hands On OFS practical experience. Dysfunctional BOD. Actual numbers out in 5-6 weeks. As they say "Proof will be in the Pudding". Stand By