Risk Factors Update Summary
- Customer revenue concentration decreased from 11% to 0% in 2023.
- Completed acquisition of Spinnaker Oilwell Services in 2023 may lead to integration challenges.
- Increased focus on ESG disclosures and potential impact on stock price and access to capital.
- Potential impact of evolving climate change regulations on demand for oil and gas services.
- Regulatory risks related to compliance with federal and state regulations on pressure pumping services.
- Potential adverse effects from a temporary suspension of new oil and gas drilling areas.
- Controlled Corporation status exempts compliance with certain NYSE regulations due to 60% voting power.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=742278&owner=exclude
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