Sixty Six Oilfield Services Inc (SSOF)

[ChaseDog31]

The man was about 40 years old and was wearing a Five Star work shirt and a Five Star hat. I asked him if he was aware of the Sixty Six acquisition and he said he was and that the employees were talking about it. He said he hadn't really checked into it that much because he had been quite busy with his work. I asked him what his job was and he said he refurbs the rigs and refurbs the huge Jefco generators, and pretty much anything else they refurb/fabricate.

I asked him if he was familiar with Sixty Six and he said he was because they do jobs together and refurb some of Sixty Six's equipment. I told him i was a little confused that Five Star employees were refurbing equipment because i thought Five Star was mostly or entirely a supplies company and that Oklahoma Rig Fabricators did the refurbing. He said all the new supplies are sold out of that blue building but he worked out of the back fabricating building.

He explained that he had previously been an ORF employee and was transferred over to Five Star along with some other ORF employees. Apparently ORF has moved/left the yard and a new oil field services company has moved into and leased their building. This new company is soley an oil fracking services company, whereas Five Star provides oil services solely to traditional vertical oil drilling companies with above ground rigs. He said this fracking industry company was booming right now.

I asked him what the three very large pieces of equipment were that were over about 30 feet from us. He said those were what he was working on refurbing. They were mud pumps and the beast on the right was a 1600 HP Jefco mud pump. Each rig uses 2 of these.

I asked him how much a completed refurbed rig could go for and he said depending on size and installed options anywhere from $1 to $2 million all the way up to $19 million. He said two years ago he worked on a $19 million dollar rig that they completely refurbed with many welders and fitters. He said they've had as many as 30 welders at a time. When completed it was shipped to Russia. Part 2

To be continued