The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Jul 26, 2023. Its latest SEC filing is a 15-12G from Sep 12, 2023.
10-Q for Q2 FY2023, filed Jul 26, 2023
The sections below describe the company as of the FY2022 annual report.
Provides hydraulic fracturing, wireline, pumping, proppant logistics and storage, and cementing services to oil and natural gas exploration and production companies.
10-K for FY2022, filed Feb 16, 2023NexTier Oilfield Solutions Inc. is a predominately U.S. land focused oilfield service company, with a diverse set of well completion and…View ↗
Completion Services, which consists of the following business lines: (1) hydraulic fracturing services; (2) wireline and pumping services…View ↗
Our completion services are designed in partnership with our customers to enhance both initial production rates and estimated ultimate…View ↗
Hydraulic Fracturing. Hydraulic fracturing services are performed to enhance production of oil and natural gas from formations with low…View ↗
Wireline and Pumping Services. Our wireline services involve the use of a truck equipped with a spool of wireline that is unwound and…View ↗
Cementing. Our cementing services incorporate custom engineered mixing and blending equipment to ensure precision and accuracy in providing…View ↗
Customers pay for services as the work is performed, generally by stage or at a fixed monthly rate. The company bills for completed stages or at month-end, and invoices are typically due within 30 to 60 days.
10-K for FY2022, filed Feb 16, 2023The majority of the Company’s performance obligations are satisfied over time. The Company has determined this best represents the transfer…View ↗
In line with industry practice, the Company bills its customers for its services in arrears, typically when the stage or well is completed…View ↗
The Company provides hydraulic fracturing, wireline and pumpdown services pursuant to contractual arrangements, such as term contracts and…View ↗
Once a stage has been completed or products and services have been provided, a field ticket is created that includes charges for the…View ↗
$3.2B
10-K for FY2022, filed Feb 17, 2023
$3.2B ↗
Projects are often awarded through competitive bids.
10-K for FY2022, filed Feb 16, 2023The markets in which we operate are highly competitive with significant potential for fluctuation in capacity. Projects are often awarded…View ↗
10-K for FY2022, filed Feb 16, 2023
Our customers primarily include major integrated and large independent oil and natural gas E&P companies. Significant customers are those…View ↗
Yes. It kept 10 cents of every revenue dollar as net income in FY2022 and turned 7 cents into free cash flow.
10-K for FY2022, filed Feb 17, 2023
$332.7MView ↗
10-K for FY2022, filed Feb 17, 2023
$315MView ↗
10-K for FY2022, filed Feb 17, 2023
$239MView ↗
10-Q for Q2 FY2023, filed Jul 27, 2023
$150.1MView ↗
8-K, filed Sep 1, 2023
On September 1, 2023, the Company completed its previously announced merger with Patterson-UTI Energy, Inc. (“Patterson-UTI”) in accordance…View ↗
Grew. Revenue grew 52% in 4 years, from $2.1B in FY2018 to $3.2B in FY2022, about 11% a year.
Added gas and logistics services
The latest report describes a natural gas treatment and delivery service and proppant hauling, storage, and last-mile logistics as part of completion support. The older report did not include these offerings.
10-K for FY2019, filed Mar 12, 2020 10-K for FY2022, filed Feb 16, 2023Following the C&J Merger, we are organized into three reportable segments, consisting of:View ↗
Completion Services, which consists of the following business lines: (1) fracturing services; (2) wireline and pumping services; and (3)…View ↗
Our completion services are designed in partnership with our customers to enhance both initial production rates and estimated ultimate…View ↗
Exited well support services
The older report described rig, fluids management, and specialty well-site services in a separate segment. The latest report says the company sold that segment and describes two reportable segments instead.
10-K for FY2019, filed Mar 12, 2020 10-K for FY2022, filed Feb 16, 2023Well Support Services, which consists of the following business lines: (1) rig services; (2) fluids management services; and (3) specialty…View ↗
Well Support Services segmentView ↗
On March 9, we sold our Well Support Services Segment. For additional information on this transaction, see Note (24) Subsequent Events of…View ↗
In March 2020, we divested the legal entities and the majority of the assets that comprised our Well Support Services segment.View ↗
We are currently organized into two reportable segments, consisting of:View ↗
Completion Services, which consists of the following business lines: (1) hydraulic fracturing services; (2) wireline and pumping services…View ↗
Competes with Halliburton, Liberty Oilfield Services, Patterson-UTI Energy, ProPetro Services, RPC, and ProFrac Holding
10-K for FY2022, filed Feb 16, 2023The markets in which we operate are highly competitive with significant potential for fluctuation in capacity. Projects are often awarded…View ↗
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