Sixty Six Oilfield Services Inc. (OTC: SSOF), with headquarters in New York, has been a leading industry expert in the drilling equipment sector of the oil and gas industry for nearly six decades. The company’s sales and rental department provides solutions for domestic and international markets with core offerings that include a wide variety of customized drilling rigs and other select equipment. Sixty Six Oilfield Services and its best-in-class customer service ensures client satisfaction with the right inventory on hand at the right time for the right price for the specified job.
The company showed strong growth in 2017 with final year-end net revenues estimated at $1.142m on gross sales of $5.957m, a healthy improvement of 38 percent in gross sales and 33 percent in net revenue. Executive Vice President Jim Frazier, who is focusing solely on the development of the oilfield service sector, said the company is well positioned to capitalize on a strengthening global oil market with two potential oil rig sales expected to generate estimated gross sales of $11M to $15M in the first half of fiscal year 2018.
As the energy sector continues strong growth in 2018, the company is well positioned to capitalize on the global trend and will continue to be aggressive in the marketplace. The company projects its oilfield business will experience growth of 45 percent to 65 percent through normal increases in volume and marketing.
“As the oil equipment industry evolves, we are excited by the opportunity to grow, expand and become an even larger player in the market,” Frazier said. “Our plan is to substantially increase Company value through an expansion of services and acquisition, resale and lease of more equipment for the oil drilling industry. This move will allow our strong management and executive team to rapidly grow the Company with our proven technical and logistical track record of high performance.”
Sixty Six Oilfield Services is now a third-generation heavy oil field equipment company founded by J.C. Houck in Oklahoma in 1959. The company is focused on supplying the oil industry with custom drilling rigs, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, tubing, casing, blow-out preventers, engines, compressors and other select equipment to customers world-wide through its facilities in Oklahoma City, Germany and Dubai.
Sixty Six Oilfield Services has also announced plans to expand its portfolio by taking advantage of improving market conditions in the global marketing/advertising and mobile technology sectors. The company has identified acquisition targets for its new marketing media business, Chief Executive Officer Dave T. Ho said, noting the “re-engineered Company creates a more balanced portfolio that is globally competitive.”
Ho, who also serves as president and is on the board of directors, is a marketing veteran with over 20 years as a business owner and marketing executive. He holds an MFA from Yale University and has been a partner in two successful marketing agencies in Connecticut – Design Trust Inc. and York & Chapel, Corp., where he is currently president.
The company’s new business plan includes developing and acquiring successful advertising, marketing and digital businesses while continuing to grow the oilfield services business at market pace, Ho said. This strategy allows for optimal diversification and takes advantage of relationships the company already has in place.
“We plan to create shareholder value by building an agency that is on the vanguard of the growing demand for Customer Experience Management (CXM),” Ho said. “This discipline applies customer analytic technology to map the entire customer experience journey, to build brand loyalty. Our focus on customer-centric models transforms business intelligence and will help our clients build lifetime customer engagement in order to compete in the new digital marketplace.”
For more information, visit the company’s website at www.SixtySixOilField.com
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