President Trump is in the first few weeks of his administration and, as we all knew, it has been interesting to say the least. The oil recovery has been steady and oil stands around $53.00 dollars. We have seen an uptick in activity but there has been some volatility. We will have to wait and see how it all progresses but the year will be an interesting one no doubt.
Nova Services has changed a bit in that we have sold the Hardbanding/Inspection Service. Nova Trucking has been well accepted and business is increasing. We have met the challenge by adding more trucks. Drilling Mud continues to be strong as our rig count has tripled since the beginning of summer and we have added several new mud engineers and use quite a few consultants. Companies are still Fracking wells and our sand storage, hauling and transloading unit continues to fill the needs of the Operators.
There is a rise in the drilling of vertical shallower, cheaper wells as well as water and gas disposal wells. Companies are taking advantage of cheaper services to plug wells and do science projects.
We here at Nova are looking forward to a great first quarter and hopefully will continue to increase employment.
We wish you all a very prosperous new year and look forward to creating new and maintaining old relationships. Thanks to all.