| Address:
|
400 W. ILLINOIS, SUITE 800
|
| City: |
MIDLAND |
|
State: |
TX |
|
Zip Code: |
79701 |
| Telephone: |
432-620-5500 |
|
Description of Business
|
Primary SIC Code:
1389 |
| (As filed with the SEC)
|
|
|
We provide a wide range of well site services to oil and gas drilling and
producing companies, including well servicing, fluid services, contract
drilling, completion and remedial services and well site construction services.
These services are fundamental to establishing and maintaining the flow of oil
and gas throughout the productive life of a well. Our broad range of services
enables us to meet multiple needs of our customers at the well site. Our
operations are managed regionally and are concentrated in the major United
States onshore oil and gas producing regions in Texas, New Mexico, Oklahoma,
Arkansas, Kansas and Louisiana and the Rocky Mountain states. We provide our
services to a diverse group of over 2,000 oil and gas companies. We operate the
third-largest fleet of well servicing rigs (also commonly referred to as
workover rigs) in the United States, representing over 14% of the overall
available U.S. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 03/2009 | -3.40 | NA | N/E | | 12/2008 | 1.64 | NA | 7.95 | | 09/2008 | 2.01 | NA | 10.60 | | 06/2008 | 1.97 | NA | 15.99 | | 03/2008 | 2.04 | NA | 10.82 | | 12/2007 | 2.13 | NA | 10.31 | | 09/2007 | 2.36 | NA | 8.91 | | 06/2007 | 2.49 | NA | 10.27 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2008 |
Leverage |
2008 |
| Net Inc/Comm Equity | 0.21 | Total Liab/Total Assets | 0.55 | | Net Inc/Total Assets | 0.05 | Total Liab/Inv Cap | 0.61 | | Net Inc/Inv Cap | 0.06 | Total Liab/Comm Equity | 2.25 | | Pretax Inc/Net Sales | 0.12 | Interest Coverage Ratio | 5.61 | | Net Inc/Net Sales | 0.07 | Curr Debt/Equity | 0.04 | | Cash Flow/Net Sales | 0.21 | LTD/Equity | 0.76 | | SG&A/NetSales | 0.11 | Total Debt/Equity | 0.81 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 5.95 | Quick Ratio | 3.05 | | Inventory Turnover | 53.34 | Current Ratio | 3.17 | | Inventory Day Sales | 0.14 | Net Rec/Curr Assets | 0.58 | | Net Sales/Work Cap | 4.53 | Inv/Curr Assets | 0.04 | | Net Sales/PP&E | 1.36 | | |
Income Statement (Millions) |
| |
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Total Revenues(Net Sales)
|
154.69
|
245.97
|
277.57
|
251.52
|
|
Cost of Goods Sold
|
110.67
|
152.28
|
168.59
|
154.03
|
|
Selling & Admin Exps
|
29.08
|
32.11
|
30.55
|
26.81
|
|
Operating Income
|
-222.76
|
6.21
|
48.78
|
42.76
|
|
Interest Exp
|
5.74
|
6.65
|
6.32
|
6.45
|
|
Pretax Income
|
-228.14
|
19.81
|
41.84
|
30.31
|
|
Other Income
|
0.35
|
20.26
|
-0.63
|
-6.00
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
-182.83
|
3.93
|
25.94
|
18.71
|
|
Assets
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Cash & Short Term Investments
|
142.86
|
111.14
|
80.86
|
77.78
|
|
Receivables - Total
|
147.84
|
187.48
|
200.40
|
176.50
|
|
Inventories - Total
|
11.50
|
11.94
|
11.55
|
10.98
|
|
Total Current Assets
|
315.16
|
323.90
|
301.71
|
275.48
|
|
Net Property, Plant & Equipment
|
735.30
|
740.88
|
709.06
|
665.92
|
|
Total Assets
|
1,092.45
|
1,310.71
|
1,310.84
|
1,209.78
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
66.97
|
75.43
|
90.07
|
77.84
|
|
Debt in Current Liabilities
|
28.53
|
26.06
|
22.99
|
20.52
|
|
Total Current Liabilities
|
96.00
|
102.15
|
113.61
|
98.88
|
|
Long-Term Debt
|
457.22
|
454.26
|
449.40
|
412.85
|
|
Total Liabilities
|
685.26
|
715.71
|
712.10
|
643.09
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.42
|
0.42
|
0.42
|
0.41
|
|
Retained Earnings
|
94.30
|
277.17
|
273.24
|
247.30
|
|
Treasury Stock
|
-14.38
|
-8.37
|
-0.03
|
NA
|
|
Total Stockholders' Equity
|
407.19
|
595.00
|
598.74
|
566.68
|
|
Total Liabilities and Stockholders' Equity
|
1,092.45
|
1,310.71
|
1,310.84
|
1,209.78
|
Cash Flow Summary (Millions) |
|
Categories
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Net Cash Provided by Operating Activities
|
60.84
|
69.36
|
56.14
|
31.33
|
|
Net Cash Provided by Investing Activities
|
-14.82
|
-23.55
|
-81.91
|
-48.53
|
|
Net Cash Provided by Financing Activities
|
-14.30
|
-15.53
|
28.85
|
-5.19
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2004 | 311.50 | 12.86 | -- | | 12/2005 | 459.75 | 44.78 | 1.35 | | 12/2006 | 730.15 | 98.83 | 2.56 | | 12/2007 | 877.17 | 87.73 | 2.13 | | 12/2008 | 1,004.94 | 68.24 | 1.64 | | Growth Rates | 34.02 | 51.77 | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 03/31/09 | 118 | 36,794 | 90.44 |
|
Report Date :
6/23/2009
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