This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Core Laboratories' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Our comments include non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures is included in the press release announcing our second quarter results. Those non-GAAP measures can also be found on our website.

With that said, I’ll pass the discussion back to David.

David Demshur

Okay. Thanks, Dick. I’d like to give a quick investor update. Core’s operation produced another solid quarter, as the company can really do benefit from our continues focus on and the increase in international and deepwater offshore activities, and unconventional oil plays in response to relatively high oil prices and dwindling global spare oil producing capacity.

The focus on crude oil related projects continued to build in 2012 as we discuss the projected decrease in natural gas drilling activities in North America on our last four previous conference calls. Therefore Core’s revenue mix now is closer to 80% oil and 20% natural gas, a shift from the previous 70/30 mix earlier.

Moreover, most of the natural gas related projects emanate from the international theaters and these LNG projects are related to major developments in the Eastern Mediterranean, East Africa and Western Australia.

Turning to our ops, Core’s reservoir description results reflected the focus away from natural gas and the positive increases in both international and deepwater activities, which continued into 2012.

Core Lab dominates these deepwater core analysis and reservoir fluid markets capturing virtually all outsourced projects from offshore Brazil, West Africa, East Africa that includes thousands and thousands of feet of core that has been cut in East Africa, the Eastern Mediterranean and the deepwater markets throughout Asia-Pacific.

Looking at reservoir management, they posted another strong quarter reflecting additional oil company support for its worldwide joint industry projects in oil shales and international areas of interest like the deepwater areas offshore Western Brazil where Core Lab currently ops six joint industry project and Petrobras continues to be Core Laboratories largest and most important national oil company client.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs