Nextier Oilfield Solutions Inc Stock Price, News & Analysis

NexTier Oilfield Solutions (NYSE: NEX) has successfully completed the acquisition of Alamo Pressure Pumping, enhancing its role as a key player in low-carbon well completion solutions within the Permian Basin. President Robert Drummond stated that this acquisition is expected to bolster their low-cost, low-carbon strategy and strengthen market leadership in next-generation technologies. The integration with Alamo aims to improve service quality and deliver significant value to shareholders and customers.

NexTier Oilfield Solutions Inc. (NYSE: NEX) announced the launch of its IntelliStim fracturing optimization system, successfully completing its first project with a major operator in the Mid-Continent. This proprietary system integrates NexHub® digital technologies, enabling real-time monitoring and detailed downhole visualizations for enhanced completion operations. Partnering with Silixa, the system utilizes advanced fiber-optic sensing to optimize fracture design and performance, aiming to reduce costs and improve efficiency for oilfield operators.

NexTier Oilfield Solutions reported second quarter 2021 results, showcasing a revenue of $292.1 million, a 28% increase from Q1 2021. The company recorded a net loss of $31.8 million, an improvement from $54.5 million the previous quarter. EBITDA rose to $15.2 million, marking an $18.8 million increase. NexTier aims for Q3 2021 revenue to exceed $390 million, driven by fleet activation and the acquisition of Alamo Pressure Pumping. Total liquidity stood at $372 million with no debt maturities until 2025.

NexTier Oilfield Solutions (NYSE: NEX) announced the acquisition of Alamo Pressure Pumping for approximately $268 million, expected to close by August 31, 2021. This strategic move consolidates two leading providers of low-carbon well completion solutions in the Permian Basin, adding 9 hydraulic fracturing fleets and enhancing NexTier's position in CAT Tier IV Dual Fuel technology. The transaction is projected to yield $10 million in annualized cost synergies within six months, supporting NexTier's path to positive cash flow generation.

NexTier Oilfield Solutions (NYSE: NEX) has launched its Power Solutions division, aimed at providing natural gas fueling services to fleets in the Permian Basin. This initiative integrates compressed natural gas (CNG) technologies with existing services, significantly reducing fuel costs and emissions. Operations have begun with an 80% diesel displacement rate in its ESG Platinum frac fleet. A strategic partnership with EagleClaw Midstream ensures a reliable natural gas supply, enhancing operational efficiency and sustainability in the oil and gas sector.

NexTier Oilfield Solutions Inc. (NYSE: NEX) will release its Q2 2021 financial results on August 4, 2021, post-market. A conference call will follow on August 5, 2021, at 7:30 a.m. CT, featuring CEO Robert Drummond and CFO Kenneth Pucheu. Investors can access the call via a live webcast or by phone. A replay will be available until August 12, 2021. NexTier offers comprehensive oilfield services and emphasizes safety, efficiency, innovation, and partnerships.

NexTier Oilfield Solutions Inc. (NYSE: NEX) announced a successful field test of its NOV Ideal eFrac pump powered by natural gas reciprocating engines in West Texas. The engine outputs 2.5 MW at 13.8 kV and supports leading emissions reductions, with minimal maintenance needs. This scalable solution is set to power NexTier's first eFrac fleet, expected for deployment in H1 2022. The collaboration with Caterpillar emphasizes a commitment to low-carbon solutions in the oil and gas sector, enhancing operational efficiency and mobility in well completions.

NexTier Oilfield Solutions reported Q1 2021 results with total revenues of $228.4 million, up 6% from Q4 2020. Fracturing and integrated wireline revenue reached $189.0 million, a 2% increase.
Despite a net loss of $54.5 million, improved cash position was noted with $271.6 million in cash and $353.0 million total liquidity. Adjusted EBITDA decreased to $0.7 million, with an expected revenue growth of at least 25% in Q2 2021. The company remains focused on low-emission technologies and plans to exit 2021 with double-digit Adjusted EBITDA margins.

NexTier Oilfield Solutions Inc. (NYSE: NEX) has scheduled its first quarter 2021 financial results release for May 4, 2021, post-market close. Following this, a conference call will take place at 7:30 a.m. CT on May 5, 2021, hosted by President Robert Drummond and CFO Kenneth Pucheu. Investors can join the call via a live webcast on their website or by phone. A replay will be available until May 12, 2021. NexTier focuses on innovative oilfield services, enhancing safety, efficiency, and customer partnerships.