Looks like they are finally trying to make changes in WTX. New leadership promoted from within is a good thing for company morale but a bad thing for the division. A million + in salesmen salaries for salesman that don’t and prob won’t hold any accounts. Guys that were under the lacking leadership of SS for the past 10 years still they’re collecting a paycheck when it should be unemployment. Have 60% of the rigs out there with what? 3-4% market share? Getting run over by the mom and pops. OK and STX both have more rigs than them with a fraction of the overall rig count. Corporate is either ignorant or negligent to the fact that it is a failed division. Need to wipe the slate clean and start over with fresh faces. The old ones can’t/won’t/don’t cut the mustard.
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If you don't agree with the original post then you are part of the problem.
WTX was doing great at the start but because of lack of management and accountability it's getting ran into the ground.
Since it involves WTX I’d imagine it involves giving stuff away for free or funding a customers operation with things like mud swaps or free engineering.
Do your “due diligence “. Everyone in West Texas is well aware of that “situation “ between SS and CY (EOG).
I am curious about the EOG mud credit too.
What is the EOG OBM credit?
A declining rig market certainly won’t help new Permian management or NR. Rigs are dropping in all basins. Hopefully, just a short term correction, time will tell.
Someone sounds like a bitter ex- employee. Man get a hobby. Sorry you couldn’t make it in the industry bro!
Looks like they had a “packed” house for the AADE in Midland. More people from Katy than they could get out of the office two blocks away. Typical WTX. No matter who you put in charge. With the same people come the same results. Nada
SS had everyone hypnotized into thinking he was the greatest thing in the mud business but turns out he was just lucky and Newpark is just d-mb. Not sure why they think he can sell anything if all he did was run things into the ground for the last decade.
Anybody who knows anything about the mud biz knew Alliance was a joke of a mud company. So what’s happened is no big surprise. The EOG OBM credit issue should have been a big red flag!!!!!