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Post by oilgashappy on Apr 23, 2015 23:32:06 GMT -7
Are they going to tell us what have been sold and what is there left behind to be gobbled up by CalFrac for a song?
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Post by dipstick on Apr 24, 2015 7:19:42 GMT -7
drought, earthquake reports are not abating......yet waterless LPG fracking on deathbed!! Perhaps, STEP or Calfrac will pick up and run with it.
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Post by 2500hhp on Apr 24, 2015 17:49:25 GMT -7
They were pretty vague about it even with employees. Doubt we will hear much about it again.
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Post by oilgashappy on Apr 26, 2015 19:31:01 GMT -7
Why the vagueness and secrecy? The deal is done. Does not the shareholder entitled to know what has been sold and what is left?
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Post by johnspatane on Apr 27, 2015 16:09:33 GMT -7
You know, that is a really valid point. Shareholders are the owners of the corporation, and if anyone deserves NOT to be kept in the dark, it is the corporation's owners !!
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Post by johnspatane on Apr 27, 2015 16:11:53 GMT -7
Maybe dealing in secrecy and keeping the shareholders unaware of what is going on is enough reason for a class action suit. Seems the Directors and Officers have a fiduciary responsibility to the shareholders. We have all been patient enough and for far to long a time !
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Post by 2500hhp on May 1, 2015 22:27:50 GMT -7
Step purchased everything on both yards, including the yards themselves. They stated that they have no intention of using any of the LPG equipment. They will keep all of the hybrid/conventional equipment (pumps, hybrid blenders, data vans, probably some N2 equipment, iron trailers and manifolds) and when they were In floresville, they were talking about selling the LPG specific equipment.
From what I know nothing is in the works and they don't have a buyer, however I will say keep an eye on BlackBrush and E-Corp.
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Post by dipstick on May 2, 2015 12:28:56 GMT -7
is gasfrac doing any work? will it soon simply dissolve? what is the future? this was the biggest misfortune of my life thus far; and now not much time left to recoup
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Post by oilgashappy on May 2, 2015 19:21:07 GMT -7
If STEP not doing LPG frack, who is doing LPG in Utica? Seem like Chesapeake is still active there with LPG frack.
Does Gasfrac still retain and has free use of the LPG frack related patents? |
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Post by oilfieldworker on May 3, 2015 15:49:42 GMT -7
No one is doing any LPG Work. the Equipment is sitting in the yards now. Chesapeake is not active with the LPG frack. They will start flowing the well soon as they have not started yet flowing it back. Gasfrac is only a shell company at this point and doesn't own anything. STEP owns all equipment and IP (patents).
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Post by oilgashappy on May 6, 2015 19:31:10 GMT -7
I don't get it. Why would CalFrac lend the shell company GasFrac money to purchase additional equipment? CalFrac cannot be dumber than I (as someone who lost a ton load of money on GasFrac).
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Post by oilfieldworker on May 6, 2015 20:28:06 GMT -7
It's a tax game.
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Post by 2500hhp on May 6, 2015 21:27:51 GMT -7
Yup tax game all it is. So CalFrac can claim they put money into GasFrac and had an operational loss.
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