One optomistic development that hasnt been hit on is the work being done and the opportunity being created by the center for sustainable shale (cssd). Requiring 90 % of wastewater to be recycled. That starts this year and chevron who is one of nes largest customers is at the forefront of this. Nes stated earlier that they have the largest enviro footprint in the utica. With a large # of drilled but non producing wells ready to go in 2014 this could be a big jolt. Management needs to execute. Industry widening adaption of recycling nedds to be a game changer.
Looking at spn conference call transcript reveals not a lot of good info on fluids division. Doesnt bode well. Trucking demand low with oversupply as a result of oil companies moving their own h20. Shall see how this translates for nes. Tough operating environment for that business right now it appears.
In the coment section of latest article by michael filloon on seeking alpha a poster asked a question on nes . The response was not encouraging. Question asked by bbubbs was whether new drilling methods are beneficial to nes. Check it out. Under eog
unfortunately wont know how much more was covered by shorts yesterday or more covered before earnings on 7th. next dissemination date is nov 11. interesting
Strong quarter and good guidance going forward in north america for bhi. May have something to do with volume spike and stock price today.