$SSOF Sixty Six Oilfield Services, Inc. announces strong Second Quarter Performance
OKLAHOMA CITY, OKLAHOMA, June 13, 2017 SIXTY SIX OILFIELD SERVICES, INC. - InvestorsHub NewsWire - (OTCBB: SSOF), announces Second Quarter Net Revenue Estimates of $341K on Gross Sales of $1.7M for the period ending June 30. Compared to the same period in 2016, the Company anticipates quarter over quarter improvements of approximately 109% in gross sales and 118% in net revenue. The Company increased its margins from 11% to 19% which continue to track thru the 2nd Quarter. James Frazier, President and Chief Financial Officer, said: We are working hard to increase sales and are pleased with our progress to date.
Global market research and consulting firm MarketsandMarkets (www.marketsandmarkets.com) reported that oilfield equipment rental market will be worth $53.7 Billion by 2019. In their market study entitled Oilfield Equipment Rental Market by Equipment - Global Trends and Forecasts to 2019, MarketsandMarkets concluded: The North American region holds the largest market for oilfield equipment rental, driven largely by the number of drilling and E&P activities in the U.S. North America, due to its growing energy needs and flourishing conventional and unconventional drilling and oilfield service industry is the major growth engine for this market. The Company is continuing to take advantage of the market in the equipment sector. Mr. Frazier said, We are continuing to track our business development plan in a slowly trending up market. We anticipate the drilling sector to be a leading indicator of overall market direction.
The Company has submitted an application to OTCMarkets.com to renew publication of quarterly and annual information and financial statements. When approved and the information and financial statements for December 31, 2016 and March 31, 2017 are published, the Company expects its Current Information status to be restored. Information about the Company that satisfies Rule 15c2-11 is now available at www.microcapreporting.com.
About Sixty Six Oilfield Services, Inc.
Sixty Six Oilfield Services is now a third-generation heavy oil field equipment company founded by J.C. Houck in Oklahoma in 1959. The Company is focused on supplying the oil industry with custom drilling rigs, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, tubing, casing, blow-out preventers, engines, compressors and other select equipment to customers world-wide through its facilities in Oklahoma City, Germany and Dubai. The Companys services include the sale of new equipment, sale of refurbished and certified used equipment, as well as rental of oilfield equipment.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company's reports filed with the SEC. The Company is not eligible to rely on the safe harbor provided by Section 21E(c) of the Exchange Act because it is not subject to filing periodic reports under Sections 13 or 15(d) of the Exchange Act.
For more information, contact:
Jim Frazier, President
Jim@66oilfield.com
info@66oilfield.com
405.735.6666F
855. DRL.PIPE (375-7473)
www.sixtysixoilfield.com
Only information that is publicly available will be provided.
OKLAHOMA CITY, OKLAHOMA, June 13, 2017 SIXTY SIX OILFIELD SERVICES, INC. - InvestorsHub NewsWire - (OTCBB: SSOF), announces Second Quarter Net Revenue Estimates of $341K on Gross Sales of $1.7M for the period ending June 30. Compared to the same period in 2016, the Company anticipates quarter over quarter improvements of approximately 109% in gross sales and 118% in net revenue. The Company increased its margins from 11% to 19% which continue to track thru the 2nd Quarter. James Frazier, President and Chief Financial Officer, said: We are working hard to increase sales and are pleased with our progress to date.
Global market research and consulting firm MarketsandMarkets (www.marketsandmarkets.com) reported that oilfield equipment rental market will be worth $53.7 Billion by 2019. In their market study entitled Oilfield Equipment Rental Market by Equipment - Global Trends and Forecasts to 2019, MarketsandMarkets concluded: The North American region holds the largest market for oilfield equipment rental, driven largely by the number of drilling and E&P activities in the U.S. North America, due to its growing energy needs and flourishing conventional and unconventional drilling and oilfield service industry is the major growth engine for this market. The Company is continuing to take advantage of the market in the equipment sector. Mr. Frazier said, We are continuing to track our business development plan in a slowly trending up market. We anticipate the drilling sector to be a leading indicator of overall market direction.
The Company has submitted an application to OTCMarkets.com to renew publication of quarterly and annual information and financial statements. When approved and the information and financial statements for December 31, 2016 and March 31, 2017 are published, the Company expects its Current Information status to be restored. Information about the Company that satisfies Rule 15c2-11 is now available at www.microcapreporting.com.
About Sixty Six Oilfield Services, Inc.
Sixty Six Oilfield Services is now a third-generation heavy oil field equipment company founded by J.C. Houck in Oklahoma in 1959. The Company is focused on supplying the oil industry with custom drilling rigs, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, tubing, casing, blow-out preventers, engines, compressors and other select equipment to customers world-wide through its facilities in Oklahoma City, Germany and Dubai. The Companys services include the sale of new equipment, sale of refurbished and certified used equipment, as well as rental of oilfield equipment.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company's reports filed with the SEC. The Company is not eligible to rely on the safe harbor provided by Section 21E(c) of the Exchange Act because it is not subject to filing periodic reports under Sections 13 or 15(d) of the Exchange Act.
For more information, contact:
Jim Frazier, President
Jim@66oilfield.com
info@66oilfield.com
405.735.6666F
855. DRL.PIPE (375-7473)
www.sixtysixoilfield.com
Only information that is publicly available will be provided.
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