Sunday, March 12, 2023 1:03:03 PM
but I have been involved in the oilfield for over 40 years and I know that in the current political and environmental climate in the United States in regards to Drilling and Production, companies are looking for efficient, cost effective and environmentally friendly solutions to increase production and the fluids generated by PCT’s equipment check all 3 boxes.
Biocides and Surfactants are used in the drilling stage as well as the primary, secondary and tertiary recovery stages of an Oil & Gas well. And as for the size of the drilling fluids market, it is only going to grow from here.
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If PCT can get their act together, and I believe the quiet period we are experiencing is PCT trying to do just that, then 21st Century Energy Solutions is a thoroughbred in the starting gate in my opinion.
The service provider in the Permian Basin expanding their facility to house more equipment is just one indicator that the equipment and fluids are working well in the largest oil producing basin in the United States.
Another indicator are the results from the producer in the Anadarko Basin that had an increase in production of over 500% on their initial single well intervention/stimulation. I did many hours of research into that and prior to the well intervention/stimulation using PCT’s fluids, the lease was generating roughly $725k a year. If the producer treated all active wells on the lease and realized just half of that increase, that lease would have the potential to generate over $2M annually.
I am not advocating for PCT one way or another, I am simply posting my view since it has been a while since I have posted publicly and will be a while before I do so again.
Some say the key dates for PCT will be the 10-K and 10-Q. My key date for increasing/decreasing holdings, currently well over 10M, will be 30 April 2023. Whether you are buying, selling or holding, do your own DD and avoid the noise as it is just a distraction.
Wishing everyone the best and see you again in April.
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