Hatchet man is back over fluids. No loyalty to anyone. Big reduction taking place.
33 replies (most recent on top)
Hey man right now I just hopeing I don’t make the cut😄😄, I still say it’s going to go back up this is Oil . If U can’t stand the heat get out the kitchen . Sitting here trying to see if they are done cutting heads.😠😠 KATY
hey katy 2 months ago you posted the stock price was going UP UP UP. At $6.68 looks like DOWN DOWN DOWN to me.
A likely candidate just popped up. Gary Rich (you like the name already) Prez of Parker Drilling in Houston and a former Baker Hughes hand (another paper pusher). He has managed to take PKD stock from over $20/share to today's price of $0.43 cents a share in less than 11 months while filing for Chapter 11 today.
Don’t know anyone has the answer to that question .
Not nearly enough-especially in the woodlands
What is the head count lost so far due to this reduction in staff?
Are there going to be any more head cutting in KATY . Anyone knows it not too many people left to cut. What U’ll think. Joe Blow.
Kind of like the Post from 6 Months back where a Poster said he saw ph meeting with the Baroid Big Cheese (Brown). Can you imagine this, as an example, of what probably went thru that guy"s mine on the way back after the meeting? Something like-- Can you visualize that they approached Me to come over and Run that Clusterf___ over at ndf. When i have this job where i am. I am insulted.
And one other thing to consider, after they finish with the layoffs this week, the unfolding story really begins in the 1st Quarter of 2019. The NEW person they hire (whoever it might be) is SURELY going to want to bring SEVERAL of His/Her Key team members along on the new ride... SO got to make room for them - In with the New and OUT with the Old. katy- may want to get ready. May want to start working on that contract update.
Who was responsible for the ludicrous contract given PV? That person and or Board should be flat out sh-- canned tomorrow. Hiring PV was bad enough, that contract and buyout was complete insanity. And to think - Paul, we told you so!!!!
PH is up Sh-- creek without a paddle. He rode a good horse out to pasture with the pre 2015 management of fluids who made the company insane amounts of $$$$. And his hiring of PV completely drove NP into the mud.
NP and Dumb and Dumber are the complete laughing stock of the oilfield. Time to put up or shut up!
Here is the situation. No Qualified Candidate is going to take this job. That is why pv held it for as long as he did. The Peter Principal was in full effect for him (rising to the level of Incompetence). He could work at a middle management level job at a big company and survive. But at NDF he had to LEAD and he had NO concept/ and or experience in drilling fluids or leadership. NDF cannot survive doing things the way HAL/SLB do it. That is why the person they are seeking is probably NOT available. He/She would have to give up a Really Good job (still assuming they are Qualified) if they are Employed in today's market to come over to NR to go to work with ph and gp who they would KNOW from the get go that HE/SHE needs to be running the Show and not Sitting around taking orders from ph and gp... It is really that simple. A Really Qualified candidate would never consider working under the present Upper MGT of NR. They (He/She) know the road to Success and it is NOT becoming the Prez of NDF under the current situation. He/She would stay put or look elsewhere.
I guess PV got the last laugh.
He fired everyone that had a brain, knew he was a morron and understood how to make money the first year he was at NP.
Then surrounded hisself with yes men, to last this long.
Cheers to the Brit:
Stock price just visited with the devil @ $6.66
They Lumped all his pay into 2018 SO the TAX MAN gets 35% +1.45% from $400K -$600K And 37% +1.45% for the $$$ above $600K. Still the Best Pay Day pv Will Ever Have- and For accomplishing ABSOLUTELY NOTHING.
Sound like U hit them over the head.😄😄Happy News also. JOE BLOW.
You go, I see U stuck it in them. Hope U left some for me.
Thank you for the generous going away gift. I wish the rest of you to enjoy what’s left of your tenure with NP. As a result of my pathetic decision making and overall lack of management skills, you all will be seeing a 25 percent reduction in fluids. Merry Christmas, PV
Sound like He’s set right. He shouldn’t hav no complaints . KATY 😎
8K filed for pv. He gets 1. $1.1M as a Severance Payment ( to cover the 20 or so months left on his Employment contract). 2. He gets up to $40K for Medical and Health Insurance. 3. He gets $20K for Outplacement services. 4. He gets $225K for accelerated vesting of the special time-based cash reward granted to him on 6-10-2017 under the NR 2015 Employee Equity Incentive Plan. 5 He gets $69.4K under the 2010 Annual Cash Incentive Plan for Super-Over Achievement Award Payment for the remaining part of the 2017 Annual cash incentive award. Strange thing is - I Don't remember NR making any $$$ MONEY during 2016 or 2017 but they PAID Bonus $$$$ under the Equity Incentive Plan and on the Super Achievement Level of all things. This is beyond mind blowing. I did not even go in to the pv Stock and Stock options that are being granted Accelerated Vesting. AND the BOD wonders why the drilling fluids Division is ONLY barely profitable after nearly 3 years of Losses. ABSOLUTELY UNBELIEVABLE
Sitting here looking in the Mira Saying dam to myself, Just how could this happen to myself. 😩😩😩.
Numnuts, what part of 25 percent do you not understand?
Are they done chopping heads anyone know, want my bonus 😄😄.
This Fact remains. Between ALL of the UPPER Management of NR and the BOD , they can find/recommend NO Qualified Candidate for the Job Without the Help/Paying of an "Executive Search Firm." (Pass the Buck) If there was ever a case for the quote "Blind leading the Blind"- it applies here. Their last recommendation was pv. Enough said. People/Competitors/Operators Do realize how sick a situation this is. The BOD should look Carefully how this company was constructed for Success BEFORE the arrival of pv about 4 1/2 years ago ( and ph HAD NOTHING to do with it). He was just along for the FREE ride and very Profitable , in his case, ride. Then, again, that is probably a stretch for This BOD.
Hiring someone without a mud background and understands how to make money in a commodity oil mud market!
You can hire a sales team.
🤡🤡🤡🤡
With Dumb and Dumber captaining the Newpark ship what kind of stupid move is next? This stuff is so good, you couldn’t script it any better. Brazil, Australia, PV’s reign, reckless spending of NESI $$$, what could possibly top this? LMAO
NR stock now trading firmly at a yearly/52 week LOW. Lining up to go under $7 /share next week. How can the BOD even entertain the thought of paying out Bonus $$$ to Upper Management?
😠😠 when is all this is to take place.
kATY and Blow Joe no comment-both standing in soup line.
Should have been done 8-9 months ago. But look who was in charge. And are talking about ALL the way up to the boy -mister NO Results with BIG Paycheck. Wonder how that Carlton Woods Lot selling program is going? Seven months on market-- This time and still NO results. Property tax payment due shortly and Summer selling season at least 6 months away.
What a POS company laying people off before Christmas. No loyalty whatsoever.
Merry Christmas
From NP Upper Management
Double digit reduction in fluids company wide
Where is going to be Denver , Katy,or Woodlands. What U think. JOE BLOW