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GASFRAC Energy Services, Inc. Message Board

  • shapiro.sanford shapiro.sanford Mar 13, 2014 11:32 AM Flag

    Customers supplying their own fluid

    On the web call (going on now) they have admitted to customers buying their own fluid. I would think that cuts down on their revenue; let alone any profit from that particular job. Also, they keep pointing out to a year from now. And putting off giving out info till they get and I quote from the webcast "Till we get sufficient dats". Which they have used from the last 2 I have heard.

    Sentiment: Sell

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Gasfrac needs to purchase the fluid, and keep reusing it for each job. This will make their cost more attractive.

    • I had to disconnect from the call right when it started.
      Yes, a hit to revenue, but;
      1) may also make the process more attractive and saleable to a client.
      2) eliminates risk management for propane/butane/pentane pricing.
      Was disappointed that Munro wasn't present (at least not introduced by Hill at the start). On the other hand, maybe he is in the Eagle Ford meeting with customers and selling - his primary job.
      A disappointing Q. I'll have to listen to the recorded call and reassess. Munro needs to be given a chance to perform, which will take through Q3 or all of 2014 to see results.
      It appears that liquidation price is still above share price, but without sales and equipment utilization - that will eventually reverse with continued red ink.

      • 2 Replies to eternal_optimist
      • The total impression I got from the call is that things are in a holding pattern. At the end I did like they would be concentrating efforts overseas (saudia arabia) to sell their services to this area because of lack of water there. A little disturbing at the same time is Hill said they have 9 sets of equipment ( I think I got that word right) with 3 operating in Canada and 2 in the U.S. (or vice versa) with 4 that are idle. Personally, I want to sell but the optimist in me keeps giving it a second chance each quarter.

        Sentiment: Hold

      • The total impression I got from the call is that things are in a holding pattern. At the end I did like they would be concentrating efforts overseas (saudia arabia) to sell their services to this area because of lack of water there. A little disturbing at the same time is Hill said they have 9 sets of equipment ( I think I got that word right) with 3 operating in Canada and 2 in the U.S. (or vice versa) with 4 that are idle. Personally, I want to sell but the optimist in me keeps giving it a second chance each quarter.

        Sentiment: Hold

 
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