Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
Current CLB Stock Info

Richard L. Bergmark, Executive Vice President and Chief Financial Officer of Core Laboratories (NYSE: CLB) presented today at EnerCom’s The Oil & Gas Conference 20®.

Core Laboratories is a leading provider of proprietary and patented reservoir description, production enhancement, and reservoir management services used to optimize petroleum reservoir performance. The Company has over 70 offices in more than 50 countries and is located in every major oil-producing region in the world.

Core Laboratories reported Q2 net income of $34.6 million. Q2 revenues came in above the high end of company expectations of $192-$202 million. CLB’s operating margins improved during the quarter by 30 bps to 24%.

During the company’s breakout session, management was asked the following questions:

  • For the demand and supply side, when do you expect to see the activity level change, in the macro view?
  • In the macro view, how do you see a V-shape recovery? What’s the percentage of capacity you are running?
  • Your company has good numbers in ROIC. Can you explain your pricing strategy in regard to your competition?
  • In sequential comparison, we have seen great improvement in revenue from your production enhancement segment but your Q2 revenue has been lower. Can you give me some color on what happened in Q2?
  • What’s the mix of variable and fixed costs?
  • What’s the refracing technology now compared to early days, such as frac stages?
  • Can you give us a little flavor of your views on the Middle East? Are they are hurting themselves, and how long do you think the price will stay low?
  • For the cost structure, we have seen marginal progress. What is your goal with margin expansion?
  • In regard to your leverage level, you often buy back stock. What is the mindset behind those buybacks?
  • What’s the crucial difference between rig counts and activity levels?
  • You have good examples to illustrate the frac stage increases, but my research shows they are trending down. Do you see any decrease of stages in general?

Click here for the webcast.


Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.