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
405.735.6666
855. DRL.PIPE (375-7473)
www.sixtysixoilfield.com
Only information that is publicly available will be
provided.
