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Heckmann Corporation Message Board

  • bogwa1406 bogwa1406 Apr 29, 2013 8:49 PM Flag

    Looking deeper into Basic Energy (BAS), Key Energy (KEG), Superior Energy (SPN) provides more insight

    on what I suspect should be happening. Except for HEK the above mentioned competitors all have fluid handling as a complementary offering as opposed to being the core businesses ( drilling and completions ). SPN is the most difficult to find anything about in regard to it's fleet size and geographic presence. In general , when you specialize, you maximize utilization of equipment and personnel which allows you to provide lower cost to customers and gain market share. The only company who has a fleet close to HEK ( 1200 trucks ) is Basic with ( 670 ). Superior also noted it's revenue dropped on fluid business and it's fluid business appears to be tied up in ( Complete Energy Services ) that Superior just acquired. When you look into Complete Energy it's a multitude of small drilling companies and it doesn't even provide any detail regarding water related fluid services. With Basic Energy Services being in the Bakken and Permian and offering services and capacity very similar to HEK , I think the PF performance should be in line with Basics and they actually gained a little ground 1qtr versus 4th quarter. LSP

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