C & J Energy Services, Inc. IPO Advisory

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For IPO Boutique's "scale of 1 to 5" BUY rating on C & J Energy Services, Inc., and our comprehensive analysis, click the "Buy Market Research" link.
Price Range
Issue Price
Trade Date
C & J Energy Services, Inc.CJES Last trade $19.47 $29.00 $30.003.29 million11/20/2012
Goldman Sachs

C & J Energy Services, Inc. Historical Chart - Click chart for current quote

About C & J Energy Services, Inc. (adapted from C & J Energy Services, Inc. prospectus):
C&J Energy Services is an independent provider of premium hydraulic fracturing and coiled tubing services with a focus on complex, technically demanding well completions. They compete with other service companies for what they claim is "the most complex hydraulic fracturing projects, which are typically characterized by long lateral segments and multiple fracturing stages in high-pressure formations". Service providers are selected for these complex projects primarily based on technical expertise, fleet capability and experience rather than solely on price. C&J Energy Services also provides pressure pumping services and other related well stimulation services in connection with well completion and production enhancement operations.

C&J Energy Services has handled relatively geologically challenging basins in South Texas, East Texas/North Louisiana and Western Oklahoma. The customers they serve are primarily large exploration and production companies with significant unconventional resource positions, including EOG Resources, EXCO Resources, Anadarko Petroleum, Plains Exploration, Penn Virginia, Petrohawk, El Paso, Apache and Chesapeake. C&J Energy Services is in the process of acquiring additional hydraulic fracturing fleets and are evaluating opportunities with existing and new customers to expand into new areas throughout the United States with similarly demanding completion and stimulation requirements.

C&J Energy Services operates four modern, 15,000 pounds per square inch, or psi, pressure rated hydraulic fracturing fleets with an aggregate 142,000 horsepower, and say that they currently have on order four additional hydraulic fracturing fleets, which, upon delivery, will increase their aggregate horsepower to 270,000 by the end of 2012. Their hydraulic fracturing equipment is specially designed to handle well completions with long lateral segments and multiple fracturing stages in high-pressure formations.

Recent advances in horizontal drilling and hydraulic fracturing technologies have lowered unit recovery costs in their deployed fleets in the Eagle Ford Shale of South Texas, the Haynesville Shale of East Texas/North Louisiana and the Granite Wash of Western Oklahoma. This has increased the potential for long-term oil and natural gas development. Additionally, the increase in the number of drilling permits awarded in the Eagle Ford, Haynesville and Granite Wash regions, coupled with the increasing complexity and technical completion requirements for many wells in these regions, are expected to drive growth in demand for well completion services for the foreseeable future. They plan to focus on basins with technically demanding hydraulic fracturing requirements.
    Some of their industry challenges are stated as:
  • We may be unable to employ a sufficient number of skilled and qualified workers.
  • Our operations are subject to hazards inherent in the energy services industry.
  • Our operational personnel have experienced accidents which have, in some instances, resulted in serious injuries.
  • We participate in a capital-intensive industry. We may not be able to finance future growth of our operations or future acquisitions.
  • Our industry is highly competitive and we may not be able to provide services that meet the specific needs of oil and natural gas exploration and production companies at competitive prices.

...see more by clicking the prospectus link above.

This description is adapted from C&J Energy prospectus. This description is not intended to be a recommendation to buy stock from this company. To see the company's full description, view their prospectus.

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