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re: Franks International is causing me angst..
Posted on 8/8/14 at 2:12 pm to Northwestern tiger
Posted on 8/8/14 at 2:12 pm to Northwestern tiger
yeah I'm not going anywhere over one bad quarter
1
Posted on 8/8/14 at 2:20 pm to yellowfin
They've been losing work. They put all their eggs in one basket (Deepwater) and are missing out on less glamorous revenue on the shelf. Their equipment is great, personnel is a different story, and has something to do with the work they are losing.
I know they dropped a string recently, and it wasn't mechanical error.
They've been sending more guys on jobs than is necessary, trying to keep them busy. If I notice, the Company Man will too.. when they have to sign a ticket for $80,000, just in personnel, for a week worth of time.
The increase in land work is a sign, I think. They're scrambling to keep the hands and tools on a ticket.
I know they dropped a string recently, and it wasn't mechanical error.
They've been sending more guys on jobs than is necessary, trying to keep them busy. If I notice, the Company Man will too.. when they have to sign a ticket for $80,000, just in personnel, for a week worth of time.
The increase in land work is a sign, I think. They're scrambling to keep the hands and tools on a ticket.
This post was edited on 8/9/14 at 11:04 am
Posted on 8/8/14 at 6:03 pm to Boudin
quote:
they dropped a string recently
Ouch. On a deep water rig? I'm getting shivers just thinking about the reaction when that happened.
Posted on 8/8/14 at 6:05 pm to TheIndulger
I'd imagine scary as frick! Pretty sure there's videos of that happening on YouTube..
Posted on 8/8/14 at 6:17 pm to Boudin
That, and the verbal arse whooping they got from a multitude of people, and the aftermath of days or weeks of lost time trying to fish it out.
Posted on 8/8/14 at 6:19 pm to TheIndulger
I don't think you're fishing that out.. I could be wrong tho
I guess it depends. I know the one I'd heard about wasn't in the well. It was pipe they were racking back in the derrick.. and they couldn't find it, so there's a 135' piece of casing buried in the gulf.
I guess it depends. I know the one I'd heard about wasn't in the well. It was pipe they were racking back in the derrick.. and they couldn't find it, so there's a 135' piece of casing buried in the gulf.
This post was edited on 8/8/14 at 6:29 pm
Posted on 11/12/14 at 10:13 am to Boudin
3rd quarter was much better
Posted on 12/12/14 at 3:57 pm to yellowfin
I am thinking about doubling my position and averaging down. FI closed today close to $15. Am I losing my mind and ramping up my angst?
Posted on 12/12/14 at 4:31 pm to cuyahoga tiger
I'm not buying any more, that's for sure..
Posted on 12/27/14 at 6:43 pm to TheIndulger
They've been doing terrible work over here and losing contacts. It's because of their equipment here.
Posted on 12/27/14 at 7:13 pm to redstick13
quote:
terrible work over here
Where is here?
Posted on 2/25/15 at 7:47 pm to cuyahoga tiger
Franks making a move. Need allot more of it. Good earnings report today and they are debt free and making operations more efficient.
Below statement is my interpretation of which i have no experience:
They speak of some new technology that reduces crushing/damaging of tubulars when stringing them together or apart.?? Can anyone shed light on this new technology and is it a game charger for FI.
Below statement is my interpretation of which i have no experience:
They speak of some new technology that reduces crushing/damaging of tubulars when stringing them together or apart.?? Can anyone shed light on this new technology and is it a game charger for FI.
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