RE: Buyback in progress The turn around yesterday and the bounce today , Looks like a bottom has finally been formed. As for the comment of hopefully they are heavily wieghted in Oil and LNG's . I storngly believe that Gasfrac is a niche company and their recent comments will not directly effect TCW.
Check their latest presentation or earnings report that is clearly stated . The company states 85% of their work is oil and liquids . Now if you factor in that they still have a lot of growth ahead of them with increased revenue/job due to increased stages per well . More units coming online . The market is currently pricing in Fracking to virtually come to a halt . A P/E of 6 market is pricing in no upside . If fracking was stopped it would severely harm the Energy sector if that was to happen . The market viewing fracking as giulty until proven innocent .
The Energy sector is currently under supplied and waiting on frack jobs to be completed . TCW expects 25% more units online in 2012 from 2011 capex . 2012 capex of 585 million is heavily focused on growing cementing and coil tubing operations . If weather is on ourside we will have a limited break up . Anyone on Alberta highways lately . I bet there are very major highways you can travel lately and not see TCW trucks going to and from jobs . Eventually this stock will pay off for those of us who understand fracking isn't going away its only increasing . Short term pain for long term gain .