Thread regarding Newpark Resources Inc. layoffs

It’s unfortunate that it came to this, but when folks are screaming for years and nobody listens, this is bound to happen

As a former shareholder, I wonder if executive management takes 1 minute of their day to read any of these posts. While I do understand that their are a lot or folks that have been done wrong by the company and post at times ridiculous comments, there are a lot of valid gripes and commentary on here to be honest. If half the board who actually does the work is saying this or that is wrong, I just don’t understand why it isn’t looked into as it’s any easy way make even small improvements. I’ve seen enough posts about Regional managers conflict of interest etc, etc, etc. over the years and I’ve always wondered if anybody looks into it because people just don’t make this stuff up. Bottom line, I know mgt is about their bonuses as are we all, but when your company s---s and people are giving you answers for free, why don’t you listen?

It’s unfortunate that it came to this, but when folks are screaming for years and nobody listens, this is bound to happen. Has upper management ever gone into the field once to see the job done and what it really takes to properly sale and service a well? I would be ashamed if I were them, but to be honest they only have half a brain. Their greed is unending.

Well said @Z5XwOdx-8nkz

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Post ID: @OP+ZdyKuRz

44 replies (most recent on top)

Newpark’s motto (since 2015): Get rid of the smarter higher paid employees, replace them with Lower paid employees with no knowledge.

PH, How’s that worked out for ya since 2015? You might want to polish up your resume. All the ones that carried you and made you millions are now gone. You will be exposed as an arrogant, incompetent id--t with NO knowledge of the mud business. Turn out the lights, the party is over

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Post ID: @Fuqa+ZdyKuRz

Got a picture in my mind of a dozen or so ex-employees leaning back in their chairs and having a tremendous Laugh. The runaway freight train coming straight down the tracks has finally Crashed -just as they all expected it to. Speaking of , our boy K has been awful quiet. Starting the 3rdQ going into the heart of Hurricane season for La and a Leveling off and actual decline in rig count in the only 2 places that matter-- WT and ET/NL. Oil struggling to hold close to $60 ($58 now). NG -$2.27 -bad news for the home team. Time to Hurry Up and get some MORE Dead Weight on board with the hiring of a new President who probably knows Nothing about the drilling fluids business. Their Savoir and Hero, little pv, sitting at the house and counting his millions. Life's a b--ch.

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Post ID: @Feio+ZdyKuRz

Newpark’s most profitable DF division EVER (East TX) is finished as of July 2019. Ship is officially sunk.

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Post ID: @Fpze+ZdyKuRz

Seriously, does anyone in Houston have 1/2 a Brain?

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Post ID: @Enbd+ZdyKuRz

This is what i hear, check it out. Remember the old Queen song "Another One bites the Dust." Well i believe it just happened in NLA. The last man standing of the old era of nr apprx 4 years ago is headed out. This final part of the turnover, if true, is now complete. The everlasting rule of pv, the resident id--t in charge who was displaced in 11-2018 , is now complete. Anyone with any knowledge of the mud business as a profitable entity at nr is now gone. ss gazing at the scene from a FAR distance in WT with feet propped up in the easy chair. Going to be a 3 ring circus for everyone to watch. Be sure and check fluids earning (or lack of ???) come 7-25-19. Mats Div , you really need to step up now, so the top corporate guys can continue to get their bonus $$$$

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Post ID: @Ehvf+ZdyKuRz

PV's, former employer Weatherford (before NR ), gets ready to file Chapter 11 bankruptcy tomorrow. And.......

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Post ID: @Cxur+ZdyKuRz

Seemed to have noticed that the post touting the arrival of another Scotsman has been taken down and/ or removed.

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Post ID: @sdeq+ZdyKuRz

No price and/ or volume movement on nr stock today after ph big conference presentation in NYC at noon today- while Dow up 350 points and Oil up about $2.

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Post ID: @qkni+ZdyKuRz

Bevo You will probably enjoy the headline in major city newspaper business section today."Merger seen as future of Oil Field Services". If so, know any company in their right frame of mind who would consider merging with nr? Unless if was a complete giveaway deal?

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Post ID: @ppvf+ZdyKuRz

I actually meant to say DH and HM retired (rather than DF).

But honestly, MCCF with CR running the show made more than EVERYONE. His margins were in the 65~75% range. Once again, leave it to PH and BS to screw that up! Had to give it away.

Meanwhile MH and CR started back up out in Western Okla and sold out when things were good for a cool $65 million. Guess that shows who really has a Brain!

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Post ID: @pfov+ZdyKuRz

I would imagine Nova, Buckeye or Stellar has as many rigs as NP in the Permian. Maybe more

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Post ID: @pdfc+ZdyKuRz

HAL 100+ rigs in Permian. That makes NP #4 at best.

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Post ID: @ofmv+ZdyKuRz

CHK actually went to .69 per share in Feb 99. Aubrey dug them out of a hole when nobody gave him any chance at all. Tough times in the patch back then for sure. Mud biz was horrible on a good day.

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Post ID: @ntrs+ZdyKuRz

CHK now officially trading at TWENTY YEAR LOW -- $1.77. Maybe K can join them and help take them below $1

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Post ID: @noos+ZdyKuRz

And to top it off, King Phil had a direct hand in firing or retiring all but 1!!! Just goes to show the complete ignorance and lack of understanding of the mud biz on PH and BS part. The downfall is 100% their complete and total fault. You want to know how to screw up a mud company: put someone in charge with NO mud experience. This will run it in the ground 100% if the time

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Post ID: @mjmi+ZdyKuRz

Really quite easy: DV and CK in mud biz, WW and HD oilfield services, DF and HM retired and sadly JH deceased. There are others for sure but without most of the above (and PB), fluids is an average company at best. The above EXCELLED in gaining and maintaining margins which Newpark knows nothing about since late 2015

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Post ID: @mztq+ZdyKuRz

see that our boy p will now have some bragging rights for his narrative at the JPM conference in NYC on Tuesday. He can tell them how nr stock just closed at a yearly LOW on Friday. - $6.37

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Post ID: @lkvm+ZdyKuRz

Bevo OK ,I'll bite. Concerning your statement, How about initials for 2 in mud biz, 2 in oilfield serv and 2 retired --in that order. I do know exactly who you are talking about concerning the last one. And he is Definitely one of the 7/

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Post ID: @lujz+ZdyKuRz

Of the 7, I believe 2 of those are still in the mud business. 2 are in oilfield services, 2 retired and sadly, 1 is deceased.

Leave it to PH and King Phil to screw up one of the best runs EVER which will NEVER be duplicated.

OLDER AND WISER.

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Post ID: @kvjr+ZdyKuRz

nr stock $6.56 --- Just returned from second trip to woodshed

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Post ID: @jbso+ZdyKuRz

BV You are correct. Bottom line - Essentially 7 guys carried the bulk ( and I don't mean barite) of the Load from the start of p's reign in 2006 thru mid to late 2015. He was NOT one of them - he only enjoyed the FREE and Profitable ride. None of those 7 are there now.

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Post ID: @jtnf+ZdyKuRz

nr stock taken to the woodshed today

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Post ID: @iidy+ZdyKuRz

PH has been very lucky to have experienced many “booms” that were lengthy in nature. While there have been downturns, they were mostly short in nature. By and large his most damage has occurred from late 15 until now. This damage was largely inflicted by his poor decision making with upper management affecting experienced personnel. The “rob Peter to pay Paul” mentality has cost Newpark tremendously and will continue to occur. The bleeding may very well get worse into 2020 which will put Newpark in a precarious situation.

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Post ID: @ivmh+ZdyKuRz

ph starts his reign in 3- 2006 by hiring Sean Mikalean to run the mats division starting in July 2006. Sean's total oil experience--ZERO BUT he did work with ph at Flint Ink (how convenient). Only one guess needed to say how that deal worked out. ( but he got the 3 year deal). So next he replaces sm with Wm Moss- also with little to no oilfield experience in mats div. Same song-different verse. Next up is the hiring of Jeff Juergens. He lasts about 4 years and is now a consultant out of La. So over 10 years 2006-2016 he hires 3 guys who don't stay. ( See how easy is to forget these guys). Present guy over Mats came on board apprx spring 2016. bs as best i can tell is under contract until July 2019. He is 67 and has made enough in 21 years at nr not to have any worries . And, remember he was not awarded any free stock in last go round. Someone has to take it for the team for the pv fiasco. Nothing touches Teflon p. Guess who could be first in line- based on his past Recommendation concerning the deal. Be interesting to see the df leadership team (org chart) in about 60 days, say 8-15 (9-1) 2019. Only thing is certain is BOD is completely clueless. pv hired from WFT -now Chapter 11. New lawyer hired from Bristow Grp -now Chapter 11. Taking 7 months to find df leader replacement surely says something. Just not sure what but with a little more time it will probably surface. 2nd Quarter conference call is only 6 weeks away. Pretty sure the ? will come up. Notice that ph gives his presentation at NOON on the 18th. Bring your sack lunch- I'm sure all the analysts attending will.

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Post ID: @inqx+ZdyKuRz

p left Astaris Chemical in St Louis in 10-2005 when they were bought out by Israel Chem Co in 11-2005. He was essentially unemployed till Jim Cole (leader of nr at the time) hired him on in 3-2006. That is another story in and unto itself.

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Post ID: @eizw+ZdyKuRz

Didn’t one of PH’s previous employers go bankrupt while he was in charge? Some things never change

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Post ID: @eqlp+ZdyKuRz

just received notification on the trip agenda for nyc conference. p decides, by default, on taking ml (mats) with him, to handle the coffee service on the flight up and light questions at the conference.. Tells him we can talk some six sigma on the flight. p says he will drive over in his mb from his $800K home while waving ( he just wishes it would go bye-bye) as he drives past his Unsold Lot in Carlton Woods ($16K of Taxes and Maint fees per year) and tells him to be ready to be picked up outside your 6000 sf - $2.2M home, thinking man - how did I ever get Driver Duty for the trip to the airport?. Maybe there is Something to be Learned here.

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Post ID: @ecmf+ZdyKuRz

You are exactly right! And what is more funny than the circus is the insane clown show that PH and BS are the ringmasters. Allowing a educated illiterate convince them he could handle fluids with exactly NO experience. Anyone in their right mind (that knows fluids) would NEVER hire PV as a sales manager much less a president. But the old saying holds true: you get what you pay for. If it smells like a Turd it probably is a real Turd. PV was a real Turd. Anyone with ANY real mud knowledge picked up on that the 1st time we met the egotistical Bloke

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Post ID: @espj+ZdyKuRz

Let's see now. At the end of next week, it will be 7 months and no hire of a New President for Drilling fluids div. ( Candidate saying he can't come until he gets his Bonus from previous employer in Feb-March 2019 story line is no longer valid- this is June). But ph is going to jpm investor conference in NYC on 6-18 to give a presentation on nr. A presentation on drilling fluids and mats. 2 subjects he has little to no knowledge about since there is Nothing is his background before coming to nr that suggest he had Any experience in either of those 2 type work divisions before hiring on. ( Don't think a Ink Cartridge company and a wholesale chemical company in St Louis qualify). He had Never worked in Oilfield Services prior to nr. But he did get rid of the Waste Disposal/Enviro division of nr ( which he had no experience in also) after a failed sale attempt that went thru only after a Huge write down and the giving back of the Escrow money.. OK, you say, take gp. He has even LESS experience, if that is possible. Can't take bs- his title is Temporary prez. And he gets to talk about the DF division (75% of the company revenues) losing $$$$$$$ for over 3 1/2 straight years. Must going to be a great magical show for this circus performance. And it is not even a fun weekend trip to the circus.

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Post ID: @ecld+ZdyKuRz

If Oil tanks again, all the Newpark stock in the world won’t matter. With the non performance of fluids, this is another oilfield service company stock that could very well follow Weatherford, Basic Energy and others. Newpark is basically a one trick pony with an enormous overhead dragging them down. Fluids may never perform to pre 2015 levels, if so NP’s future is precarious at best.

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Post ID: @esol+ZdyKuRz

nr stock struggling to stay above $7. (While Dow up 175 Points at present) . Guess it is time Time for our Leader to put in that request to BOD for more Free Shares for the Executive Mgt Team. His timing for request would follow his great timing on buying The Lot in Carlton Woods in 2014 which seems he can't Unload at any Price since now been For Sale for nearly 400 days.

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Post ID: @cfza+ZdyKuRz

And let’s not forget Newpark’s touted technology:

Deepdril: dead

Flexdril: dead

Evolution: MIA

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Post ID: @aysc+ZdyKuRz

You scored a 100 on that And yes, pv was his boy. One Scotchman/One Englishman= well you see the results.

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Post ID: @ajzg+ZdyKuRz

Funny you brought BS name up, what has he ever done? As I recall, he rode PB’s coat tails for a LONG time. He brought on the debacle known as Brazil and Australia. Didn’t he also take over Arkansas and NE (after the Oklahoma boys started those 2 and made both profitable). Now both are either gone or in the toilet.

Didn’t he have a direct hand in the hiring of PV?

As we all know, his people skills are zilch. Wore out his welcome a long time ago. OVERRATED!!!

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Post ID: @avjf+ZdyKuRz

My Point exactly. Why has it taken over 6 months to hire someone? Think anyone in their right mind is that desperate a Person to leave any good job for the circus.. Or you get some unemployed person promising HE is the Person that can turn it around. Yeah, right. Don't you imagine that Employment agencies are digging Everywhere to collect this hiring fee.

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Post ID: @avab+ZdyKuRz

The largest division hasn’t made squat ~ going on 5 years. Think about that~5 years! Who in their right mind would want to take over this dumpster fire???

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Post ID: @aqut+ZdyKuRz

And they are sitting there wondering to themselves, going " And I wonder why we can't get a QUALITY person to run the Drilling fluids Division, the LARGEST Division by FAR in the Company, when we are going to pay the Company Lawyer ( a one man show who probably contracts out as much as possible) $25,000 more a YEAR than the Prez of the Drilling Fluids Division. It's all public knowledge in the SEC filings. $410K (Earle) versus $385K (Vollands).

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Post ID: @9foy+ZdyKuRz

i guess everyone noticed that the new lawyer they hired in apprx Sept 2018 came from the Bristow Group that Just filed Chapter 11 Bankruptcy last month. And they give the guy over 110,000 Free shares to leave a floundering company to join the team.. Remind anyone of the hiring of little pv who they hired from Weatherford to save the drilling fluids division? How did that work out? How is Weatherford doing today in Chapter 11? The fun JUST NEVER stops here. At least the new hand has to slum down and drive from River Oaks to the Woodlands every day. Bet he just hated giving up all that Downtown life smoozing with the Corporate heads and Tennis at the Met,etc

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Post ID: @9luw+ZdyKuRz

Notice that NO free shares of any type given to bs . Guess with the new guy coming, time get ready to saddled up and for that ride into the distance.

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Post ID: @6zik+ZdyKuRz

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