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  • U.S. Well Services Inc. (USWS) Down Pre-Market on Missed Q4 2021 Earnings

    Amid the ongoing Russia-Ukraine conflict and oil price upsurge, the oil & gas industry has recently gone through some turbulent times with high volatility in the industry stocks. One of the trending stocks in the industry has been the U.S. Well Services Inc. (USWS). The high-pressure and hydraulic services provider despite the high volatility has secured its place in 2022.

    On March 30, 2022, the company announced its Q4 and fiscal 2021 results and provided an outlook for 2022. While the company looks forward to a better year, the 2021 financials were anything but impressive. Failing to meet the earnings and revenue expectations, USWS stock plunged down by 9.09% in the pre-market.

    Analysts were expecting a YOY increase in earnings on higher revenues, thus investors were looking forward to the earnings with much enthusiasm. Hence, the regular session culminated in a gain of 4.31% for the stock at its closing price of $1.21. But the disappointing earnings caused USWS to trade at $1.10 in the pre-market session.

    USWS 2021 Earnings Overview

    Source: InvestmentBank

    The company took severe impact from supply chain disruptions including the availability of truck drivers, proppant, and water requirements for operations. This resulted in a decline in the company’s pumping activities. Added to this, the resurgence of Covid-19 also imparted its own woes on the company’s operations.

    Thus, USWS Q4 revenue suffered a decline to the reported $38.9 million against the previous quarter’s $56.5 million. The analysts’ estimates placed the quarterly revenue at $51.95 million with a growth of 18% YOY.

    Moreover, the company’s net loss also expanded in the quarter to reach $22.7 million against $9.6 million in the earlier quarter. Resultantly, the company posted negative EPS of $0.46 while forecasts were for $0.28.

    Additionally, the company’s adjusted EBITDA also took a hit and declined to a loss of $7.9 million in the quarter. The prior quarter’s EBITDA was a loss of $0.5 million.

    What Else Happened?

    The company has been busy in 2022 with many new developments taking place continuously. USWS has extended its existing electric fleet contract with Range Resources to the end of 2024. Furthermore, the company also finalized an electric frac contract with Olympus Energy as well as XCL Resources earlier this year.

    How Does 2022 Look?

    While the supply chain disruptions did continue into the first quarter of 2022, the company is expecting better performance in the year. Building on the upsurge in oil and natural gas and elevated demand for pressure pumping, USWS’ high-spec, next-gen Clean Fleets® have commanded the most attractive pricing. With the improving dynamics in the market, the company is poised for excellent performance in 2022.

  • U.S. Well Services Inc. (USWS) stock Further Up After hours. Why?

    On March 21, the U.S. Well Services Inc. (USWS) stock remained bullish throughout the day with a further gain of 8.85% in the after-hours. The company is set to declare its fiscal 2021 financials on March 30, 2022, after the market close. Moreover, the earnings conference call and webcast will be held on March 31, at 10:100 am. CT.

    Source: Plus500

    During the regular trading session, the stock enjoyed bullish momentum with a gain of 7.62%. The stock closed the session at a price of $1.13 per share while 8.03 million shares exchanged hands. USWS continued its bullish trend into the after-hours session as well. The stock reached a value of $1.23 per share in the after-hours following a gain of 8.85% or $0.10. The volume of the share exchanged during the after-hours session was 804.27K.

    The oil and gas industry high-pressure and hydraulic fracturing services provider, U.S. Well Services Inc. was founded in 2012. Currently, the company has a market capitalization of $80.95 million with its 77.09 million outstanding shares.

    USWS stock Movement

    USWS stock has had a good few weeks in February and the start of March. The increasing sanctions on Russian oil and energy products along with oil prices reaching new record highs recently has oil and energy stocks including USWS trending big. The stock was able to go up by 30.77% last month due to high volatility in the market. Since the oil prices surge has calmed down recently, USWS stock has had a bearish sentiment lingering over it. Recently, the stock saw an upsurge on March 17 only to suffer from corrections and profit booking afterward. After going down on March 18, the stock rebounded once again and remained bullish on March 21. With no further announcements from the company, the stock seems to be trending due to external factors like stock sentiment and social media chatter.

    Presently, USWS stands at a year-to-date loss of 1.74% while it subtracted 72.41% last year.

    Company News

    On March 14, the company announced the finalization of an agreement with a subsidiary of Range Resources Corporation (RRC). The agreement extends its existing electric fleet contract with RRC which is due to expire in November 2022. As per the extension, the company will deploy a new Nyx Clean Fleet® in November for supporting RRC’s Appalachian completion program through 2024’s end.

    Additionally, this extension represents the company’s third contract with RRC for safe and efficient well completions since mid-2019.

  • U.S. Well Services, Inc. (USWS) Stock Leaping Forward Premarket Following Expansion and Contract Announcement.

    U.S. Well Services, Inc. (USWS) is providing pressure pumping services and electric fracture stimulation. Its exclusive electric pressure pumping platform provides preliminary electric, mobile good stimulation platforms powered by natural gas including field gas sourced from the wellhead. This technology decreases emissions and sound pollution along with the generation of exceptional operational efficiencies.

    The price of USWS stock during regular trading on March 4, 2022, was $1.72 with a gain of 8.86%. At last check in the premarket on March 7, 2022, the stock further jumped by 9.88%.

    USWS: Events and Happenings

    On March 4, 2022, USWS reported its entry into a modification to its Senior Secured Term Loan Credit Contract letting the company take last-out term loans. Also, the company announced its entry into an agreement to provide an electric hydraulic fracturing platform to a client. It estimates to deliver a Nyx Clean Fleet to start working under this agreement starting in November 2022.

    On February 18, 2022, USWS announced its entry into a partnership with Olympus Energy LLC to provide an electric pressure pumping platform. On February 7, 2022, USWS updated on its entry into a partnership with XCL Resources to deliver an electric pressure pumping platform.

    On February 1, 2022, USWS informed the press about the highlight of its preliminary unaudited financial highlights for Q4 2021. The company generated total revenue of approximately $38 to $39 million during the period.

    USWS: Key Financials

    On November 12, 2021, USWS released its consolidated financial statement for the third quarter of 2021 ended September 30, 2021. Some of the key highlights are mentioned below.

    Revenue

    Revenue for the third quarter of 2021 was $56.4 million compared to $44 million in the corresponding quarter of 2020. The company observed a surge of $12.4 million in its revenue over the year. Also, it topped the analysts’ revenue estimations by $4.53 million.

    EPS

    Net loss per share basic and diluted in Q3 2021 was $9.5 million or $0.50 compared to $14.2 million or $0.88 in the same quarter in 2020. The company observed a significant decline in its EPS over the year. Also, it missed the EPS estimates by -$0.36.

    Conclusion

    USWS stock is 37% up the year-to-date period as the COVIS-19 pandemic restrictions are easing globally. The recent stock price gain by the company is the impact of its expansion of senior secured term loan facility along with an award of Nyx clean fleet. Also, the estimated EPS for the fourth quarter of 2021 is -$0.23.

  • U.S. Well Services Inc. (USWS) stock Soars High After Hours Following an SEC Filing

    On March 2, 2022, U.S. Well Services Inc. (USWS) filed SC 13D/A: General statement of acquisition of beneficial ownership – amendment, with the U.S. SEC. Consequently, the stock advanced further in the after-hours session on Wednesday while it remained bullish in the regular session as well.

    Source: Uni of Utah

    The regular session saw a huge volume of 2.67 million shares compared to its average volume of 984.2K shares. The USWS stock closed the session in the green at a price of $1.39 per share. Thus, the stock added a value of 8.59% or $0.11 during regular trading. Following the SEC filing, the stock continued to rise as it added a further 15.11% in the after-hours. Hence, USWS had a value of $1.60 per share in the after-hours on Wednesday while 818.12K shares exchanged hands.

    Founded in 2012, U.S. Well Services Inc. provides high-pressure and hydraulic fracturing services in oil and natural gas basins. Currently, the company has a market capitalization of $67.01 million with 52.35 million shares outstanding.

    USWS’ Electric Frac Contract

    On February 18, USWS announced entering into a contract for the provision of electric pressure pumping services to Olympus Energy LLC. Olympus Energy develops natural gas resources in the core of Marcellus and Utica share formations, southern Pennsylvania.

    According to the terms of the contract, the company will be operating a Clean Fleet® for Olympus through 2022, on a contracted basis. Moreover, the terms also include optional extensions for up to two additional years.

    Contract with XCL Resources

    On February 07, the company announced a contract for electric pumping services provision to XCL Resources LLC in Uinta Basin. As per the terms of the agreement, the company would provide a new build Nyx Clean Fleet®. The Nyx Clean Fleet® would work for XCL for up to three years on a contracted basis including optional extensions.

    USWS’ Q4 2021 Financials

    On February 01, the company declared its preliminary unaudited results for Q4 2021.

    In Q4 2021, USWS had total revenue between $38 to $39 million with adjusted EBITDA of $(6)-$(8) million.

    Furthermore, the company had $9-$10 million of capital expenditure in the quarter on an accrual basis.

    On December 31, 2021, the company had total liquidity of $20 million which included $9 million of cash and restricted cash.

    Additionally, the company also reduced its outstanding principal balance on senior secured term loans to $120.7 million at the end of the quarter.

  • Here is why U.S. Well Services Inc. (USWS) stock turnaround in the after-hours on Tuesday?

    The U.S. Well Services Inc. (USWS) shares gained 13.66% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $1.04. Earlier in the regular trading session of Tuesday, USWS’s stock lost 4.73%. The stock volume remained 2.61 million shares, which was lower than the average daily volume of 3.59 million shares within the past 50 days. USWS shares have risen 116.31% over the last 12 months, and they have moved down 6.14% in the past week. Over the past three months, the stock has gained 21.98%, while over the past six months, it has declined 10.29.

    Let’s have a look at its recent news and developments.

    USWS upcoming Electric Fracturing Work

    On July 27, 2021, U.S. Well Services (USWS) announced to deploy an all-electric Clean Fleet® to work for Pioneer Natural Resources Company. The electric fleet will support Pioneer’s Midland Basin completion operations for the fourth quarter of 2021.

    At this announcement, the President and CEO of USWS Joel Broussard said that the U.S. Well Services is thrilled to be working with Pioneer on this field trial and Clean Fleet technology will enable Pioneer to reduce completion costs while also lowering the emissions intensity of its operations.

    Investor update about USWS Business Strategy and Recent Transactions

    On July 6, 2021, U.S. Well Services released a new company presentation to update investors on the Company’s business and financial strategy, as well as to provide details on recent transactions.

    USWS recent strategic transactions

    • USWS issued $125.5 million of 16% Convertible Senior Secured notes and received $86.5 million of gross proceeds from the sale of Notes.
    • Settled outstanding litigation with Smart Sand following entry of final judgment that awarded Smart Sand approximately $52 million.

    USWS Business and Financial Strategy

    • USWS can build up to four new electric fleets and purchase critical components for two additional fleets, under terms of the amendment to the term loan credit agreement.
    • Resolution of Smart Sand litigation allows USWS to continue selling legacy diesel frac assets and other non-core equipment.
    • USWS expects to convert all outstanding Series B l Over 60% of Series A exchanged for Notes.

    USWS Commitment to Purchase 120 Electric Motors 

    on June 30, 2021, U.S. Well Services committed to purchasing 60 Power Cubes from AmeriMex Motor & Controls, LLC which is a subsidiary of Industrial Service Solutions. Each patented Power Cube contains two 3,000 HHP electric motors, two variable frequency drives, a power transformer and other components that combine to create a self-contained power centre. The Company expects to begin taking delivery of the Power Cubes in the third quarter of 2021.

    Important updates to execute strategic plans

    On June 28, 2021, U.S. Well Services issued $125.5 million of 16.0% Convertible Senior Secured PIK Notes due June 2026 in a private placement to institutional investors. The Company sold $64.0 million of Notes convertible into the U.S. Well Services Class A Common Stock and $22.5 million of Notes convertible into licenses to ProFrac Manufacturing, LLC. The above-mentioned transactions are done to execute its previously announced strategic plan to grow and become a fully electric hydraulic fracturing services provider.

    Conclusion

    The recent USWS announcement about upcoming electric fracturing work was the reason behind its turnaround in the after-hours on Tuesday. It can continue to surge in the coming days as well.

  • Here is why U.S. Well Services Inc. (USWS) performed well on Wednesday?

    Here is why U.S. Well Services Inc. (USWS) performed well on Wednesday?

    U.S. Well Services Inc. (USWS) shares jumped 14.85% in after-hours on Wednesday, June 30, 2021, and closed the day at $1.16 per share. Earlier in the morning session, USWS’s stock gained 2.34% to close Wednesday’s normal trading session at $1.01 per share. USWS shares have risen 107.18% over the last 12 months, and they have moved up 4.12% in the past week. Over the past three months, the stock has lost 2.88%, while over the past six months, it has declined 146.34%.

    Let’s have a look at its recent development.

    Commitment to Purchase 120 Electric Motors 

    on June 30, 2021, U.S. Well Services committed to purchase 60 Power Cubes from AmeriMex Motor & Controls, LLC which is a subsidiary of Industrial Service Solutions. Each patented Power Cube contains two 3,000 HHP electric motors, two variable frequency drives, a power transformer, and other components that combine to create a self-contained power centre. The Company expects to begin taking delivery of the Power Cubes in the third quarter of 2021.

    Important updates to execute strategic plans

    On June 28, 2021, U.S. Well Services issued $125.5 million of 16.0% Convertible Senior SecuredPIK Notes due June 2026 in a private placement to institutional investors. The Company sold $64.0 million of Notes convertible into U.S. Well Services Class A Common Stock and $22.5 million of Notes convertible into licenses to ProFrac Manufacturing, LLC. The above-mentioned transactions are done to execute its previously announced strategic plan to grow and become a fully electric hydraulic fracturing services provider.

    Surge EnergyElectric Frack Fleet Field Trial

    On June 25, 2021, Surge Energy US Holdings Company partnered with the U.S. Well Services on a field trial using USWS’ all-electric Clean Fleet®. This project represents Surge’s first well completions using all-electric hydraulic fracturing technology.

    USWS leaving Diesel Frac Market

    USWS reassured its commitment to fully exit the diesel frac market by the end of 2021 and replacing it with all-electric hydraulic fracturing.

    The company can become the first publicly traded, pure-play electric completion service provider if it fulfils its commitment.

    USWS electric frac technology significantly reduce emissions and sound pollutions. It also increased operating efficacies which reduced major fuel cost savings for the end customers.

    Next-Generation Nyx Clean Fleet® Pump

    On May 19, 2021, U.S. Well Services released the next generation of its proprietary Clean Fleet® technology with the unveiling of its newly designed Nyx Clean Fleet® frac pump. Nyx will use USWS patented PowerCube, driving two independently controlled electric motors and frac pumps to provide 6,000 hydraulic horsepower on a single trailer.

    Partnership with Northeast Natural Energy for Clean Fleet® Trial

    On May 18, 2021, U.S. Well Services announced that it is preparing to commence operations on a 5 well pad located in Monongalia County, W.Va. for Northeast Natural Energy LLC. This project will be NNE’s first well completion using an all-electric hydraulic fracturing fleet provided by USWS.

    Conclusion

    The purchasing of 120 electric motors could be the reason behind its exceptional performance on Thursday. the company is fulfilling its commitment which is providing more trust to investors and hence USWS stock price is going up.

  • Up’s and downs of Oil sector

    Up’s and downs of Oil sector

    As the market pondered the possibility of strengthening New York and London restrictions before a readily accessible vaccine, oil prices increased.

    Since switching earlier between losses and gains, futures ended at a nine-month high. The U.S. began distributing the Covid-19 vaccine and national immunization initiatives in other countries, offering a roadmap for stabilizing oil demand.

    However, price gains remain minimal as reopening plans across the globe are affected by the virus’s spread. In the middle of a new strain of the epidemic, London is growing pandemic controls this week while New York City’s mayor said people should be prepared for a complete lockdown. The Association of Petroleum Exporting Countries, meanwhile, cut forecasts for global fuel demand by 1 million barrels a day in the first quarter of 2021.

    GasLog Partners LP (NYSE:GLOP) shares were trading up 31.18% at $3.45 at the time of writing on Monday.

    GasLog Partners LP (NYSE:GLOP) share price went from a low point around $1.51 to briefly over $16.20 in past 52 weeks, though shares have since pulled back to $3.45. GLOP market cap has remained high, hitting $177.88M at the time of writing, giving it price-to-sales ratio of more than 0.

    If we look at the recent analyst rating GLOP, BTIG Research downgraded coverage on GLOP shares with a Neutral rating and a $3.28 price target, which implies room for -0.17% downside momentum this year.

    Mid-Con Energy Partners LP (MCEP) last closed at $3.78, in a 52-week range of $1.14 to $8.70.

    SandRidge Energy Inc. (SD) stock soar by 10.61% to $3.44 after reporting that it has entered into a definitive agreement for the sale of its North Park Basin assets. The most recent rating by Seaport Global Securities, on June 21, 2017, is at a Neutral.

    Enservco Corporation (AMEX:ENSV) Shares headed rising, higher as much as 5.73%. The most recent rating by Northland Capital, on November 13, 2015, is at an Outperform.

    Renewable Energy Group Inc. (NASDAQ:REGI) rose 4.31% after gaining more than $2.68 on Monday. The company on December 3, 2020 declared changes to the organizational construct of its senior leadership team intended to accelerate the company’s performance as a leader in a rapidly growing industry.

    U.S. Well Services Inc. (USWS) last closed at $0.48, in a 52-week range of $0.23 to $2.02.

    NOW Inc. (DNOW) stock soar by 2.38% to $6.45. The firm has scheduled a conference call to discuss fourth quarter and full-year 2020 earnings on Wednesday, February 17, 2021 at 8:00 am (US Central Time). The most recent rating by Stephens, on October 16, 2020, is at an Equal-weight.

    Ultrapar Participacoes S.A. (NYSE:UGP) Shares headed rising, higher as much as 2.21%. The most recent rating by Morgan Stanley, on June 02, 2020, is at an Overweight.

    ChampionX Corporation (NYSE:CHX) rose 1.08% after gaining more than $0.15 on Monday following the announcement of early tender offer results and extension of early tender premium.

    Oceaneering International Inc. (OII) last closed at $8.25, in a 52-week range of $2.01 to $15.99. Analysts have a consensus price target of $7.48.

    Euronav NV (EURN) stock soar by 0.61% to $8.25. The most recent rating by BTIG Research, on October 21, 2020, is at a Neutral.

    TransAtlantic Petroleum Ltd. (AMEX:TAT) Shares headed rising, higher as much as 0.60%. On November 20, 2020, the company released its financial results for the quarter ended September 30, 2020. The most recent rating by TD Securities, on September 09, 2016, is at a Speculative buy.

    Pacific Ethanol Inc. (NASDAQ:PEIX) rose 0.17% after gaining more than $0.01 on Monday. The firm declared on December 1, 2020, the closing of its agreement with Liberty Basin, LLC to sell 134 acres, rail loop and grain handling assets at its Pacific Ethanol Magic Valley plant in Burley, Idaho for $10 million in cash.

    Talos Energy Inc. (TALO) last closed at $9.21, in a 52-week range of $5.00 to $31.34 after declaring proposed offering of $400 million of second-priority senior secured notes due 2026. Analysts have a consensus price target of $13.17.

    Valvoline Inc. (VVV) stock drop by -0.17% to $23.01. The most recent rating by JP Morgan, on August 05, 2020, is at an Overweight. The company on December 2, 2020 reported that it plans to acquire 27 quick-lube locations that will expand its service center network across the U.S.