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BRIEF-Step Energy Services Ltd. Announces Strategic Business Update And Third Quarter Conference Call Details

Published 2018-10-25, 06:37 a/m
© Reuters.  BRIEF-Step Energy Services Ltd. Announces Strategic Business Update And Third Quarter Conference Call Details
STEP
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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

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