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NexTier Oilfield Solutions (NYSE: NEX) and NOV, Inc. (NYSE: NOV) have successfully completed the initial phase of field testing for NOV's Ideal™ eFrac pump. The pump, designed to enhance hydraulic fracturing while minimizing emissions, operated over 300 hours and facilitated 172 stimulation stages. The system is versatile, functioning on various electrical sources. Both companies plan further trials to advance low-carbon operational goals in the oil and gas sector.
NexTier Oilfield Solutions reported Q4 2020 results with total revenue of $215.1 million, a 31% increase from Q3 2020. Fracturing and integrated wireline revenue reached $186.0 million, up 32%. The company reported a net loss of $60.2 million, improving from a loss of $102.4 million in Q3. Adjusted EBITDA was $7.7 million, compared to a loss of $2.4 million in Q3. Total liquidity stood at $349.5 million. For Q1 2021, NexTier anticipates a sequential revenue increase of 5% to 10% amid ongoing pricing pressures.
NexTier Oilfield Solutions Inc. (NYSE: NEX) will release its fourth quarter and full year 2020 financial results on February 15, 2021, after market close. A conference call will follow on February 16, 2021, at 7:30 a.m. CT, hosted by CEO Robert Drummond and CFO Kenneth Pucheu. The call can be accessed via webcast or phone. A replay will be available post-call until February 23, 2021. NexTier, based in Houston, Texas, is recognized for its oilfield services and commitment to safety, efficiency, and innovation.
NexTier Oilfield Solutions (NYSE: NEX) will participate virtually in the 2021 Goldman Sachs Global Energy Conference on January 6, 2021. Key management members, including Robert Drummond (President and CEO) and Kenny Pucheu (CFO), will engage in a panel discussion and hold investor meetings. An integrated leader in well completion and production services, NexTier focuses on safety, efficiency, and innovation to support its customers. For more details, visit NexTier's Investor Relations.
NexTier Oilfield Solutions reported Q3 2020 results with total revenues of $163.7 million, declining from $196.2 million in Q2 2020. The net loss decreased to $102.4 million compared to $112.5 million in Q2. Adjusted EBITDA saw a loss of $(2.4) million. The company maintained strong liquidity with $370.8 million available. NexTier expects Q4 revenues to rise by 10% to 15% amid ongoing market challenges. The firm is also enhancing its natural gas capabilities and targeting a fully integrated approach for oilfield services.
NexTier Oilfield Solutions has announced the release of its third quarter 2020 financial results on November 3, 2020, after market close. A conference call to discuss these results will be held on November 4, 2020, at 7:30 a.m. CT. The call will feature President and CEO Robert Drummond, and CFO Kenneth Pucheu. Investors can access the call via a live webcast on the company's website or dial-in using specified numbers. Replay options will be available until November 11, 2020.
NexTier Oilfield Solutions, based in Houston, has announced its participation in three upcoming virtual investor conferences. The events include the Barclays CEO Energy-Power Conference on September 9, 2020, BofA Digital Energy Day on September 21, 2020, and Simmons Energy SMID Completion Services Symposium on September 29, 2020. As a leading U.S. land oilfield service company, NexTier offers diverse well completion and production services, emphasizing core values such as safety, efficiency, and innovation.
NexTier Oilfield Solutions Inc. reported second quarter 2020 results, with revenue of $196.2 million down from $627.6 million in Q1 2020. The net loss widened to $112.5 million, compared to $71.8 million in the previous quarter. Adjusted EBITDA dropped significantly to $1.7 million from $72.0 million. Despite these challenges, cost-saving measures led to a decreased SG&A of $38.0 million from $56.9 million. NexTier ended Q2 with liquidity of $430.5 million.
NexTier Oilfield Solutions Inc. (NEX) announced it will host its Q2 2020 financial results conference call on August 4, 2020, at 7:00 a.m. Central Time, half an hour earlier than initially planned. This adjustment was made to avoid conflicts with another company's earnings call. The financial results will be released after market close on August 3, 2020. The call can be accessed via a webcast or by phone. NexTier is recognized for its well completion and production services, emphasizing safety, efficiency, and innovation.