Service & Supply | Oilfield Services
Nine Energy Talks Frac Market; Northeast The Fall
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Revenue : $202.3 million, this was less than the $209 million the company said it was expecting during the Q2 investor call. Net loss : 20.6 million Adjusted EBITDA $24.2 millionNortheast frac market
The company said
"The market was challenged in Q3 and worsened throughout the quarter. Our customers remain extremely focused on staying within capital budgets prompting many operators to scale back or slow down activity in the second half of the year to ensure they meet or come in under their budgets. With that, many of our competitors are acting irrationally from a pricing perspective to gain market share.
This behavior, coupled with activity declines throughout every region has led to increased pricing pressure, from which no service line is immune. The hardest hit region…
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