From Q3 "Previously, third-party services including trucking, rental equipment required for product deployments and associated labour costs were invoiced by the third-party service provider to the customer, and were not recorded as revenue or expenses by Poseidon. In providing greater turnkey or “one call” fluid handling services, we are increasingly booking these services on behalf of the customer."
Wouldn't this mean that you would call PSN and they would organize all services required to set up the tanks? They may not own trucks, have the employees on staff but they would co ordinate all operations for the E&P. Plus they can now offer the fluid sourcing, tranferring, heating and monitoring in house. It seems as if they are moving towards providing all services which is an evolution of what they offer, especially if even some of the competition only wants to deliver a commodity.
Yes suppliers of traditional tank farms services would provide everything but the arguement against that is you still have the extra however many truckload, 2 vs 40 plus, and the time required and logistics to hook up a large tank farm. Mind you if the traditional tanks are free it may be worth it for some E&P's to take the extra time required for set up and tear down and the extra trucking costs.
PSN has huge issues clearly, a slowdown as service companies are experiencing is hard on all providers across the sector. I just thought it was an interesting difference in strategies between the two companies.
Shouldn't you be working, not stockhousing? Those wells won't complete themselves.