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What: Shares of shale solution provider Heckmann
So what: Revenue grew nearly fivefold to $51.7 million in the quarter, but the company lost $2.5 million, or $0.02 per share. The company also announced the $245 million acquisition of Thermo Fluids, a company that recycles used oil.
Now what: The company has been affected by a slowdown in the Haynesville Shale and the overall slowdown in natural gas drilling. At this point, the company is shifting assets to more profitable shale plays. Thermo Fluids is an awful big company for Heckmann to swallow, and until I see more substantial profits, this is a stock I'm going to stay away from.
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