Thread regarding Trican Well Services layoffs

Big trouble! Pumping and cement sold?

The word around the field is that trican is selling off or in the process of selling all their pumping and cementing in the USA. What's left after that? Completion sales? Will this keep them going? Doubtful, with the nearly non existent sleeve frac market and the odd burst toe sub they sell it is not sustainable. They have creditor obligations and that is difficult to pay with zero liquid cash flow.

They constantly are still laying of staff 1 by 1 to this day. With their skeleton crew they have trouble filling the simplest of orders, let alone pay any of their bills.

It is difficult to say if they can hold on. The Oil market needs to drastically reverse or trican will be out of the American play. With the expected $25/bbl there may not be many companies left to pick up the pieces.

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Post ID: @FpLwKQi

2 replies (most recent on top)

As stated in the main section. They have now officially announced what was stated here:

http://calgaryherald.com/business/energy/trican-announces-negotiations-to-sell-u-s-fracking-business-to-keane-group

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Post ID: @FpLwKQi-1wcd

It's all part of the new business model. Trican is exiting the energy sector and converting to a chain of Sunglass Hut franchises.

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Post ID: @FpLwKQi-yhu

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