RE: COMPETITION IS COMING Yes there is competition, and Poseidon knows about it. In fact I think Poseidon is the new competitor. This is just a refresh from their last NR in May
"...We're frequently asked about the threat to our business posed by competition. The most important thing for our shareholders to remember is that Poseidon is the new, competitive alternative to traditional methods that work but are challenged in this new era of increased environmental scrutiny and fracturing service intensity. Lined pits, for example, historically used for the largest fracturing jobs, have many environmental and operational drawbacks, and are increasingly frowned upon by regulators. The Poseidon approach is increasingly displacing lined pits.
Poseidon is also a competitive substitute to the thousands of 400 and 500-barrel steel tanks that have been in service throughout North America for several decades. The Poseidon system is very cost-competitive and has many operational advantages including a smaller carbon footprint, vastly more efficient transport, faster setup and superior heat retention.
There is also a fragmented assortment of other above-ground storage alternatives, which in our estimation make up less than five percent of the current fracturing fluid storage market. Important to note is that, to the extent that they provide advantages over traditional storage methods, they primarily represent competition to those higher-cost or less efficient systems. The combined market penetration of all the alternative systems, Poseidon included, is still only a fraction of the overall market potential.
Poseidon continues to offer significant savings over the traditional steel tanks and an environmentally-friendly alternative to lined pits. We continue to see robust demand for our products and services. With or without competition, we believe that our business model is sustainable over the longer-term thanks to the inherent advantages over the incumbent methods and the fact that being a rental business with relatively low fixed costs and basic physical infrastructure requirements can help us maintain a high level of free cash flow. Among Poseidon's multiple competitive advantages are having a soundly-designed and patented modular tank combined with a premium service offering that fulfills the needs of quality and safety-conscious customers...."
https://tmx.quotemedia.com/article.php?newsid=51135793&qm_symbol=PSN