Seventy Seven Energy (NYSEMKT:SSE) is the recent oilfield services spin-off from Chesapeake Energy (NYSE:CHK). The new public equity had a lukewarm reception due to the entities material reliance on the former parent for work. A former parent that is intent on improving efficiency of capital spending and cutting costs where possible was a prime factor for the stock of Seventy Seven declining during the first couple of months being public.
A few weeks back, Seventy Seven Energy reported the first quarterly earnings as a public entity providing further insight into the progress of moving beyond a reliance on Chesapeake. Typical of any new public entity with several moving parts including the sale of several segments...
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