Brief: Step Energy Services Ltd. Announces Strategic Business Update And Third Quarter Conference Call Details

STEP Energy Services

25/10/2018 11:37

Oct 25 (Reuters) - Step Energy Services Ltd  STEP.TO :
    * STEP ENERGY SERVICES LTD. ANNOUNCES STRATEGIC BUSINESS
UPDATE
AND THIRD QUARTER CONFERENCE CALL DETAILS
    * STEP ENERGY SERVICES LTD - STRATEGIC 2019 OUTLOOK
    * STEP ENERGY SERVICES LTD - "WELL POSITIONED TO IMPROVE ON
Q2
2019 PERFORMANCE RELATIVE TO Q2 OF 2018"
    * STEP ENERGY SERVICES LTD - "SECURED FIRM COMMITMENTS" FOR
OVER
HALF OF ITS MANNED FRACTURING FLEETS IN 2019
    * STEP ENERGY SERVICES LTD - CLIENT DISCUSSIONS CONFIRM
OUTLOOK
THAT FRACTURING CAPACITY SHOULD TIGHTEN AS 2019 PROGRESSES FOR
U.S. OPERATIONS
    * STEP ENERGY SERVICES LTD - EARLY SNOW AND RAIN DURING
SEPTEMBER
RESULTED IN OPERATIONAL SETBACKS AND DELAYS
    * STEP ENERGY SERVICES LTD - IN U.S., OPERATIONS CONTINUE TO
BENEFIT FROM STRONG UTILIZATION FOR COILED TUBING IN TEXAS AND
LOUISIANA
    * STEP ENERGY SERVICES - Q3 2018 PRESSURE PUMPING
UTILIZATION IN
OKLAHOMA WAS INCONSISTENT AS A RESULT OF STEP'S LARGER CLIENTS
ADJUSTING THEIR ACTIVITY
    * STEP ENERGY SERVICES LTD - WEATHER RELATED DELAYS HAVE
EXTENDED
INTO Q4 OF 2018
    * STEP ENERGY SERVICES - CATEGORIZES PRESSURE PUMPING MARKET
IN
OKLAHOMA AND TEXAS AS CURRENTLY OVERSUPPLIED
    * STEP ENERGY SERVICES - EXPECTS PRICING COMPETITION TO BE
TRANSITIONAL AS CLIENT DISCUSSIONS POINT TO RECOVERY IN ACTIVITY
BEGINNING IN H1 2019

Source text for Eikon:  ID:nGNX4LzqlZ 
Further company coverage:  STEP.TO 

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