Primary Vision
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
No Result
View All Result
Primary Vision
Home Market Trends

NexTier Oilfield: Q2 TAKE THREE

Avik Chowdhury by Avik Chowdhury
July 26, 2023
in Market Trends
0

Lower frac fleet deployment in the US: NexTier Oilfield’s (NEX) management has lowered its deployed frac fleet outlook by up to three counts by Q3 2023. It expects higher downtime, leading to a slightly lower pumping hour per fleet. The industry frac equipment supply is expected to see attrition, which can limit the US energy production growth. Meanwhile, the company will look to strengthen its free cash flow. Investors may note that NEX is set to merge with Patterson UTI Energy by Q4 2023. Read more about the company in our recent article here.

Revenue and operating margin were steady in Q2: Quarter-over-quarter, NEX’s revenues increased marginally by 1% in Q2, while its adjusted EBITDA margin increased incrementally by 43 basis points. Better pricing and improved performance in wellsite integration led to a modest improvement in Q2, although a lower frac fleet deployment partially mitigated the growth. In 2024, the management expects higher service demand because of “higher drilling and completion activity” in the US onshore.

NEX’s cash flows and leverage: NEX’s cash flow from operations increased by 30% in Q3 2023 compared to a quarter ago. Free cash flow increased more steeply, by 68%, compared to a quarter ago. The company’s debt-to-equity declined to 0.3x from 0.35x a quarter ago.

Thanks for reading the NEX take three, designed to give you three critical takeaways from NEX’s earnings report.  Soon we will present a second update on NEX earnings highlighting its current strategy, news, and notes we extracted from our deeper dive.

To unlock the content you need a
Premium
or Enterprise
Account!

Previous Post

Year-Over-Year Oil Data (USA)

Next Post

RES: Q2 TAKE THREE

Related Posts

ProFrac Holding’s Perspective in Q1: KEY Takeaways
Market Trends

ProFrac Holding’s Perspective in Q1: KEY Takeaways

June 20, 2025
How does the current Middle East Situation play out?
Frac

How does the current Middle East Situation play out?

June 19, 2025
Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)
Market Trends

Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

June 18, 2025
Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!
Market Trends

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways
Market Trends

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
ProPetro’s Perspective in Q1: KEY Takeaways
Market Trends

ProPetro’s Perspective in Q1: KEY Takeaways

June 13, 2025
Next Post

RES: Q2 TAKE THREE

Please login to join discussion

Recent News

ProFrac Holding’s Perspective in Q1: KEY Takeaways

ProFrac Holding’s Perspective in Q1: KEY Takeaways

June 20, 2025
How does the current Middle East Situation play out?

How does the current Middle East Situation play out?

June 19, 2025
Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

June 18, 2025
Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
Primary Vision

Established in 2011, we are renowned for our expert frac data and analytics, providing a rich array of unique indicators and industry commentary.

CONTACT

+1-713-554-4977
info@primaryvision.co

SOCIAL NETWORKS

POLICIES

Privacy Policy
Terms of Use

PARTNERS

Amazon Web Services

TRUSTED SITES

Logo

Logo

RECENT NEWS

ProFrac Holding’s Perspective in Q1: KEY Takeaways

ProFrac Holding’s Perspective in Q1: KEY Takeaways

June 20, 2025
How does the current Middle East Situation play out?

How does the current Middle East Situation play out?

June 19, 2025
Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

Market Sentiment Tracker: What the Latest Data Says: U.S. Steadies, Europe Slows, China Rebounds (Sort of)

June 18, 2025
Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
  • HOME
  • ABOUT US
  • RESEARCH
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!

© 2025 Primary Vision. All rights reserved.

  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!

© 2025 Primary Vision. All rights reserved.