Nuverra Environmental

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles the transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. We keep an eye on its performance as an indicator of whether there is more or less drilling happening in the M-U. Although the rig count in the M-U went up year over year for 3Q21, revenues for Nuverra did not.
Read More “Nuverra 3Q21: M-U Rig Count Up 19%, M-U Revenue Down 27%”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles the transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. We keep an eye on its performance as an indicator of whether there is more or less drilling happening in the M-U. For over a year, it’s been less. In 2020 Nuverra’s revenue sank by 34% and the rig count that it tracks fell by 27% (see Nuverra 2020: Revenue Down 34%, M-U Rig Count Down 27%). The downward trend continued in 1Q21 (see Nuverra 1Q21: Revenue Down 37%, M-U Rig Count Down 26%). However, the bleeding greatly slowed in 2Q…
Read More “Nuverra 2Q21: Revenue Down 1%, M-U Rig Count Down 5%”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. We keep an eye on its performance as an indicator of whether there is more or less drilling happening in the M-U. For over a year, it’s been less. In 2020 Nuverra’s revenue sank by 34% and the rig count that it tracks fell by 27% (see Nuverra 2020: Revenue Down 34%, M-U Rig Count Down 27%). What about 1Q21? How did the company fare over the first three months of the year?
Read More “Nuverra 1Q21: Revenue Down 37%, M-U Rig Count Down 26%”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. In November, the company reported less-than-rosy results for the third quarter, because of the coronavirus and producers slowing down their drilling programs (see Nuverra 3Q: Revenue Down 45%, M-U Rig Count Down 57%). The trend continued for fourth-quarter (and full-year) results, which the company issued yesterday.
Read More “Nuverra 2020: Revenue Down 34%, M-U Rig Count Down 27%”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. Nuverra announced yesterday it has stitched together several different deals in order to raise $32.8 million (new debt) in order to pay off older, coming-due debt.
Read More “Nuverra Environmental Solutions Refinances $33M of Debt”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. In August, the company reported less-than-rosy results for the second quarter, because of the coronavirus and producers slowing down their drilling programs  (see Nuverra 2Q20: COVID & Low O&G Prices “Likely” Thru Rest of Year). The trend continued for third quarter results, which the company issued yesterday.
Read More “Nuverra 3Q: Revenue Down 45%, M-U Rig Count Down 57%”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. In April the company laid off roughly 100 employees (see Nuverra Environmental Cuts Budget 30%, Lays off 100 People). Last week the company released second-quarter 2020 results. Like 1Q20, the company’s revenues were down and losses were up.
Read More “Nuverra 2Q20: COVID & Low O&G Prices “Likely” Thru Rest of Year”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. In April the company laid off roughly 100 employees (see Nuverra Environmental Cuts Budget 30%, Lays off 100 People). Yesterday the company finally released first-quarter 2020 results. Revenue was down and losses were up.
Read More “Nuverra 1Q20 Results: “Stormy Like Most of Us Have Never Seen””

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. Yesterday Nuverra announced the successful completion of its 2000th field ticket for its operators in the Marcellus and Utica basins using…blockchain. What the heck is that?
Read More “Nuverra Uses Blockchain to Streamline Marcellus Wastewater Hauling”

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. In January 2016, the company, going through tough economic times, was de-listed from the New York Stock Exchange (see Nuverra Environmental Delisted from NYSE, Now a Penny Stock). In April of this year, Nuverra issued their full year 2016 update which showed a $169 million loss for the year (see Nuverra Environmental 2016 Update – Red Ink Slows, Some). And in May, the company filed for bankruptcy (see Nuverra Environmental Files for Chapter 11 Bankrutpcy). Three months later, Nuverra has emerged from bankruptcy with $70 million of new financing and magically dumping $500 million of debt (see Nuverra Environmental Exits Chapter 11, $500M Debt Magically Gone). Of course, there is no magic. Like others before them, Nuverra turned its creditors into owners, swapping out debt for ownership equity, thereby screwing existing shareholders–their shares become so watered down they are worthless. The roller coaster continues. Last Friday the company announced its stock would be redeemed from the Pink Sheets (as a penny stock) and will, once again, be traded on the NYSE American exchange–what used to be called the American Stock Exchange. No, it’s not total redemption of regaining it’s listing on the NYSE, but hey, it’s progress, and it’s an exit from the purgatory of the Pink Sheets…
Read More “Nuverra Roller Coaster Continues – Stock Listed on NYSE American”