Newpark is not the place to be. Heritage MI Swaco rejects run the place with no experience or quantified skills. It's a hostile environment for those not from MI Swaco. Business operates reactivity instead of proactively because no one has a clue of what to do. It's no wonder it's being sold. Unless you are MI Swaco you have no chance of career growth.
30 replies (most recent on top)
Well. They just announced the sale to SCF Partners. The opening page on the website say they that their secret to success is get this….people. And the shared commitment to their Core Values: Integrity, hard work, and discipline. So proves they are coming in to fire everyone. Because no one with Newpark lives, works, or adheres to any of those. Dust up the resumes fellas.
NDF sells. What was the major loss mentioned previously?
The 4 main things that ki-l mud companies: Poorly qualified Houston based mgmt trying to manage from Houston (rather than regional mgmt), too much overhead/non revenue producers, dead inventory and lack of sales. Newpark is suffering from all 4!
Ex MI-SWACO leaders did the same thing with Q-MAX Drilling Fluids. I bet BAKER is next to go.
Please share the latest snafu
I think it’s funny everyone keeps saying nothing is going to change. It will be good for everyone. Guess when they mean everyone they just mean the executive team that will prob get a meaty severance and dump their stocks for a premium after mats investors waiting for them the close NDF. It will be a glorious day when NDF lets all the id--ts still hanging around there go.
Hmm, then why have employees gone to Core agency on-site for help securing another job and told sorry we are not to place Newpark employees. This has happened to several people. Truth is here. Not like the lies at meetings management gives. 10 years of Ahmed's work on tenders and not one successful tender. DP's friendship with Ahmed's dad was tight. Poor DP can't get over having to let Ahmed go. DP stop moping and crying. See what happens with your great leadership. Hmm, lies. Just check the internet for property sale and lease of Katy location. Might as well check all the other locations closed and sold. It's right there. Proof, not lies. Even your MI Swaco people are now saying management lies. Hmm, and how about the contractors hired to help disassemble lab equipment and pack up chemicals. Let's hear more about the latest snafu! I'll share that soon. It was a huge loss.
Could the hold up be they are trying to sell 30 mil in dead inventory?
No. This blather is not factual but the spread of hurtful rumors and is an overstepping of the line.
See. This person knows how to use this sight. Air it all out. Would love to see DP and NL sitting at their executive cubicles. They have been lying to shareholders and corporate about rig count and market share for years.
Newpark now down to just one small lab area, other lab area is leased. Cimbar bought out Excalibur Minerals and leases one section of first floor. Core Group agency leases the second floor. Third floor executives moved down to first floor cubicle area. Walk into the building and you see the Receptionist gulping down food or asleep. Um, yeah she gets a little too close to clients kissing men from middle east hoping to strike gold. Very unprofessional. BD retired. Let me tell you about CS. He has a personal relationship with ZC. Ever wonder how she git pro.oted to Lab Manager. Same old thing wgen they were both at Weatherford. For which they were both let go. DP also has a personal relationship with CH. Both if who are married. At Newpark, this is acceptable and everyone knows about it. AA was booted out. He ghosted clients. No place for him in the middle east. Companies in the middle east refuse to hire him for ghosting big players. So, Newpark had to get him go or lose tender. Over and over DP message to the troops that business outlook is good are lie after lie. At Newpark staff are moved up or given key roles based on if they will lie. Not a great strategy to do business. Watch out when doing business with Newpark.
All you PH and PV delusional bootlickers are getting exactly what you deserve. Your meager 4.6% fluids margins BEFORE corp overhead contributes to another quarterly loss, which is same story-different quarter since 2015. The sharks smell the blood and are circling Mason road. Watch AES take it over for .10 cents on the dollar 🤣🤣🤣
Yup! Newpark fluids has been for sale a year or so. Third floor of katy location has moved to first floor and leased third floor. Not a pretty picture when executives move down to the cubicles. Do you still believe all the lies from management? Lab equipment being sold. Company decisions made have been bad. Most staff left are old MI Swaco rejects. First Excalibur was sold, then GOM closed. Now Fluids. Piece by piece it's crumbling. And management has blocked people from getting other jobs. It's a darn shame.
Based on the financials fluids is not worthy to continue on. Industrial solutions was primarily discussed in report. They won't mention what is going on with the sale. No one is buying a low margin and declining segment. It's looking like no buyer and that they are piecing off assets for sale to not completely lose all money.
46% year over year decline and 4.6% margins? Where can I invest….Buyers going to dump US operations immediately. Overseas the only one making money. Unless they are looking for a company to lose them money to offset the tax burden.
AES also has the work. Growing? Newpark has lost rigs year to year for the past decade. Newpark has lost money year to year for the past decade. And tech center? You ever been there? More like a storage unit. Plus they got rid of all the actual talent that worked there. To put in NL and DP boys. Pretty sure they are already or about to sell it too. Or lease it from what I’ve heard. Newpark being bought needs to change their name to Anchor 2.0. Should get a certified check before you deliver anything to them cause you might not get paid. Good luck.
Oh stop your part of the problem here. Why don’t you just go on somewhere else so we can get back to growing with good folks.
AES is nothing more than cheap products and doesn’t have the tech center either!
I agree. AES already has half the WTX Apache work. Newpark was supposed to get a couple more rigs from them but Apache is waiting to see who the buyer is. So AES will probably just take over all 7 of NDF WTX divisions rigs. Sad that an international company in the hotspot of the oilfield can only get enough rigs to count on 2 hands. Been telling everyone about all the rigs coming but the white board they had all the upcoming work written on is now wiped clean. When your “leaders” show up on Monday and call it a week on Tuesday afternoon or don’t show up at all you have a problem. Almost as many guys in the office as are in the field. Got one “field supervisor” who’s turned into an office guy and not even sure if the other still works for Newpark or is SS ranch hand on Newparks dime. Zero leadership. Zero Accountability. Should have jumped ship when management changes were made last year. No ones looking for mud hands right now though.
The Newpark party will be over once AES inherits the mess. Expect major culling. Wait and see….
Dang. Touchy subject for the last soldier standing I guess. Good luck. 6 months from now when you are job searching because they are either bankrupt or downsizing you can cry in the mirror saying…”but my co man was happy.”
You don’t know. Why do you care? It’s because we have the happy customers you want for your company. My co men are happy and it’s not like you’re trying to make it look. Go get your own work!
What is your market share. I bet less than 5 %!!
Plenty of good work? Diehard NDF guy. Betting the tune will change when they leave you on the curb. Must be somebody from STX. That you BD? Heard they have as many rigs down there as they do in WTX with a fraction of the rig count. You have operators waiting to see who the buyer is cause they are worried. NDF is headed the same direction as Anchor….Bankruptcy. Look at overall market share. Don’t look at Newparks numbers cause they are BS. Look what AES says Newpark has. That’s the real number. Can’t be more than 5%.
Where is the offer to buy? Why sell if customers are happy, profits are good, and lots of work?
As I said before: 1st generation (pre PV) builds it, 2nd generation (PV) runs it into the ground, 3rd generation (post PV) sells or gives it away. As bad as D-mb/PH & D-mber/PV were, this is a calamity of epic proportion. NL and DP have done NOTHING and are BOTH miserable failures.
No your probably mad because they let you go but we got plenty of good work and customers really happy. Not like yours!!!
Doing better than we think? Listened to an earnings call in the past decade? Don’t think Drilling Fluids has made a profit since 2014. Is that you DP? NL? Ask the CFO how good you guys are doing. Mats is offloading fluids cause they are tired of carrying you guys.
Nothing but a bunch of PV hand picked leftovers. All are worthless!
Really? I gather from the group of people repeatedly laid off from Newpark are all MI Swaco who can't find jobs elsewhere because of they don't know how to do anything follow each other on their next job. Then end up returning to Newpark when layoffs are over. Just checkout those resumes.
We’re doing a lot better than you think and that’s why were being bought and look forward to putting you out of work!
Is that who’s buying NDF? They are id--ts if so. Can only be for the inventory or the international work. Cause they don’t have any on land. Rig count is low everywhere. And if they are buying it for WTX all they can expect is Apache and alot of overhead (useless and overpaid employees). The old ADF era is about to come to an end (not soon enough) when they send diversity hire SS packing. The new guy they hired for “business development” out there is a joke. Like being a sign flipper on the side of the road for a going out of business sale. NL might be able to keep his job temporarily until they realize his true value. Nothing but a salesman. Get the resumes ready. Might put them on indeed cause no one in the mud business wants an old Newpark hand. Laughing stock of the mud business.