SPN’s Operations Improve, But Future Hangs In A Balance
Superior Energy Services’ (SPN) offerings include drilling products and services, onshore completion and workover services, production services, and technical solutions. The company’s leveraged balance sheet reflects considerable financial risks because of the high level of debt repayments in the medium-to-long term. I would not recommend considering the stock for a buy until debt reduces considerably and cash flows strengthen.
The lack of demand for hydraulic fracturing services and pricing pressure will continue to weigh on its financials in 2019. In 2H 2019, I expect