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OFS - Core expects to beat $46MM cost-cutting target by one-third - July 2020



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Core Laboratories exceeded its cost-cutting target by nearly $15 million by the end of Q2. The reservoir and production enhancement company also negotiated an amendment to its revolving credit facility, getting an increased maximum leverage ratio in exchange for a lower borrowing cap. In response to the coronavirus pandemic, Core announced in April an effort to reduce corporate and operating costs by $46.1 million in an annualized basis. On June 23, the company said......
 
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