Fluids margins 1.5% (down from 2.4%). Words from the CEO: Additionally, in a scenario in which we successfully exit the Fluids business, we anticipate a further opportunity to simplify our overhead structure and drive a meaningful SG&A cost reduction within the remaining organization."
Boys in fluids, you better be polishing up those resumes. Y’all done run this straight into the ground. Enjoy those options 🤣🤣🤣
Oldest trick in the oilfield: 1 current mgmt runs company completely in the ground. 2. Mgmt buys company for pennies on the dollar. 3. New mgmt makes a mint
Old parent company licks their wounds. Has happened many times in the patch
NDF market share su-ks. MidCon only ones with a decent market share, however, not many total rigs in MC anyway. Less than 5% in the Permian 🤣🤣🤣
Wonder what Newpark DF market share is currently ?
NL having conference calls telling people that Newpark DF is better of today than they have ever been. Haha! Like telling everyone on a sinking ship “Everything is fine. Stay Aboard!” The only hustlers have either quit (OK) or been fired (WTX). Management buy out? Only they would be so d-mb.
You nailed it: “mismanagement and poor leadership”. Enough said!
Howes (with Vollands help) runs ANOTHER company into the dirt!
It will sell for Pennies on the dollar. If it sells at all. Mismanagement and poor leadership made it what it is today. Either way it will be disposed of shortly so Mats can turn a profit and call themselves “green.”
Word on the street is that NDF is not worth much. Fire sale
Further translation of CC: fluids in domestic USA su-king hind t-t. Clearly toast, will be sold off/gave away by year end.
Canada and International possibly salvaged.
No more domestic fluids company, buh bye NDF. 2nd generation completely trashed you, 3rd gen selling it off. So much for you young g-ns creating value 🤣🤣🤣
Think of all those severance payouts. And Newpark will pay every one of them even though they don’t deserve it.