Dawson Geophysic Stock Price, News & Analysis

Wilks Brothers, LLC announced an extension of its cash tender offer to acquire Dawson Geophysical Company (NASDAQ: DWSN) until January 3, 2022. As of December 14, 2021, approximately 68.89% of Dawson's outstanding shares have been tendered. Wilks aims to secure at least 80% of shares to facilitate a merger. The company expects this acquisition will enhance cost control amidst challenging market conditions, asserting that delaying further could erode value for stakeholders. Wilks encourages Dawson stockholders to participate in the extended tender offer period.

Wilks Brothers, LLC has extended its cash tender offer to acquire Dawson Geophysical Company (DWSN) until 5:00 p.m. on December 14, 2021. As of November 30, 2021, approximately 66% of Dawson's outstanding shares had been tendered. Wilks aims to obtain at least 80% of Dawson's shares to facilitate a merger. The company believes that going private would help Dawson manage costs better in the current challenging market. Wilks warns that delays could erode shareholder value. Investors are encouraged to act during the extension period.

Dawson Geophysical Company (NASDAQ: DWSN) announced a tender offer by Wilks Brothers, LLC to purchase outstanding shares at $2.34 each, effective November 1-30, 2021. The company has faced significant revenue declines due to changes in capital allocation by exploration and production (E&P) companies. Despite cost-cutting measures, Dawson reports a negative net working capital position as of September 30, 2021, and anticipates lower activity levels through 2022. The board recommends shareholders tender their shares for liquidity in a challenging market.

Dawson Geophysical Company (NASDAQ: DWSN) reported a 78% revenue decline in Q3 2021, totaling $1.91 million, compared to $8.74 million in Q3 2020. The net loss for the quarter was $7.87 million or $0.33 per share, slightly higher than last year's loss of $7.84 million. For the first nine months of 2021, revenues decreased by 82% to $13.86 million. The company is facing challenges due to low demand for seismic services, leading to concerns about cash flow and future investments. Dawson has a pending acquisition offer from Wilks Brothers for $2.34 per share, with the offer period ending on November 30, 2021.

Dawson Geophysical Company (NASDAQ: DWSN) plans to release preliminary and unaudited financial results for Q3 2021 on November 4, 2021, before market opens. An investor conference call will be held later that day at 9:00 AM CT to discuss results and the pending tender offer by Wilks Brothers, LLC. Dawson operates in North America, providing seismic data acquisition services to various clients, including major oil and gas companies. The company highlights risks related to energy industry spending and the impact of the COVID-19 pandemic on its operations.

Dawson Geophysical Company (DWSN) announced that WB Acquisitions Inc., a subsidiary of Wilks Brothers, LLC, has initiated a tender offer for all outstanding shares at $2.34 each. This follows the merger agreement signed on October 25, 2021. The offer requires at least 80% of the outstanding shares to be tendered and is set to last for at least 20 business days, expiring on November 30, 2021. Dawson's board has unanimously approved the merger terms, recommending that stockholders tender their shares.

Dawson Geophysical Company (NASDAQ: DWSN) announced a definitive merger agreement with Wilks Brothers, LLC, where a subsidiary of Wilks will offer $2.34 per share to acquire all outstanding common shares. The Board recommends shareholders tender their shares, citing liquidity and optimal future potential due to declining demand for seismic services and a skilled labor shortage. Preliminary third quarter estimates indicate revenues of $1.9 million and negative EBITDA between $4.4 million and $4.8 million, demonstrating ongoing financial challenges.

Dawson Geophysical Company (NASDAQ: DWSN) reported a significant revenue drop in Q2 2021, with revenues plummeting to $193,000 from $29.5 million in Q2 2020. The company incurred a net loss of $9 million, translating to a loss of $0.38 per share, compared to a profit of $1.5 million in the same quarter last year. For the first half of 2021, revenues fell 83% year-over-year to $11.9 million. Activity levels decreased due to the lack of seismic data acquisition crews operating in the US or Canada. The outlook remains challenging, though there are signs of slight improvement.

Dawson Geophysical Company (NASDAQ: DWSN) will publicly release its preliminary and unaudited financial results for the quarter ended June 30, 2021, on August 12, 2021. An investor conference call is scheduled for the same day at 9:00 AM Central Time. Dawson Geophysical is a prominent provider of onshore seismic data acquisition services across the U.S. and Canada, catering to major oil and gas companies. The company warns that forward-looking statements involve risks and uncertainties that may adversely affect its actual results.