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Sixty Six Oilfield Services, Inc. announces Third Quarter Performance
Sixty Six Oilfield Services, Inc. announces Third Quarter Performance.
About this update from Sixty Six Oilfield Services, Inc.
[{"type":"text","content":"FOR IMMEDIATE RELEASE:Sixty Six Oilfield Services, Inc. announces Third Quarter Performance OKLAHOMA CITY, OKLAHOMA, November 16, 2017 –SIXTY SIX OILFIELD SERVICES, INC. (OTCBB: SSOF), announces Third Quarter Net Revenue of $258K on Gross Sales of $1.4M for the period ended September 30, 2017. Compared to the same period in 2016, the Company achieved quarter over quarter improvements of approximately 106% in gross sales and 112% in net revenue. The Company’s net margins continue to track thru the 3rd Quarter at 18%. James Frazier, President and Chief Financial Officer, said: “We are working hard to increase sales and to execute our development plans. Drilling activity has slightly increased over the last quarter and appears to be continuing. We expect to see the benefits of this increase in our sales over the next two to three quarters.”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 Company’s 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...