C&J Energy Services Participates in Upcoming Investor Event and Provides Operational Update
HOUSTON, April 1, 2013 /PRNewswire/ -- C&J Energy Services, Inc. (NYSE: CJES) ("C&J" or the "Company") today announced its participation in the upcoming Global Hunter Securities Boston Energy Day to be held on Wednesday, April 3, 2013 in Boston, Massachusetts. Members of the Company's management will hold individual meetings with institutional investors throughout the day.
C&J also reported that first quarter activity for hydraulic fracturing trended below expectations due to lower utilization levels and the limited increase in rig count across primary areas of operation. The 2013 outlook discussed on the fourth quarter 2012 earnings call was based, in part, on stronger fracturing utilization early in the first quarter, as compared to the fourth quarter of 2012. As the quarter progressed, there was lower utilization by contracted customers, who generally managed to the minimum contractual hours, generating more spot market exposure. Despite the weaker than anticipated fracturing activity, the performance of coiled tubing and wireline operations progressed in line with expectations.
About C&J Energy Services, Inc.
We are an independent provider of premium hydraulic fracturing, coiled tubing, pressure pumping, wireline and other complementary services with a focus on complex, technically demanding well completions. We also manufacture and repair equipment to fulfill our internal needs as well as for third party companies in the energy services industry. We operate in what we believe to be some of the most geologically challenging and active plays in the United States.
Forward-Looking Statements and Cautionary Statements
This news release contains certain statements and information that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. The words "anticipate," "believe," "ensure," "expect," "if," "intend," "plan," "estimate," "project," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "potential," "would," "may," "probable," "likely," and similar expressions, and the negative thereof, are intended to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements, estimates and projections regarding our business outlook and plans, future financial position, liquidity and capital resources, operations, performance, acquisitions, returns, capital expenditure budgets, costs and other guidance regarding future developments. Forward-looking statements are not assurances of future performance. These forward-looking statements are based on management's current expectations and beliefs, forecasts for our existing operations, experience, and perception of historical trends, current conditions, anticipated future developments and their effect on us, and other factors believed to be appropriate. Although management believes that the expectations and assumptions reflected in these forward-looking statements are reasonable as and when made, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all). Moreover, our forward-looking statements are subject to significant risks and uncertainties, many of which are beyond our control, which may cause actual results to differ materially from our historical experience and our present expectations or projections which are implied or expressed by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, risks relating to economic conditions; volatility of crude oil and natural gas commodity prices; delays in or failure of delivery of our new fracturing fleets or future orders of specialized equipment; the loss of or interruption in operations of one or more key suppliers; oil and gas market conditions; the effects of government regulation, permitting and other legal requirements, including new legislation or regulation of hydraulic fracturing; operating risks; the adequacy of our capital resources and liquidity; weather; litigation; competition in the oil and natural gas industry; and costs and availability of resources.
For additional information regarding known material factors that could cause our actual results to differ from our present expectations and projected results, please see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2012, as well as our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that we file from time to time. Readers are cautioned not to place undue reliance on any forward-looking statement which speaks only as of the date on which such statement is made. We undertake no obligation to correct, revise or update any forward-looking statement after the date such statement is made, whether as a result of new information, future events or otherwise, except as required by applicable law.
C&J Energy Services, Inc.
Lisa Elliott, Dennard - Lascar Associates
SOURCE C&J Energy Services, Inc.