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OFS - Services may be moving from the slide to the trough - June 2020
Is the worst over? WTI prices spent the last half of May in the $30s and have spent June pushing against the $40/bbl barrier. OFS stock prices have started to rally. While new drilling seems far away, there are whispers of some completions crews returning to work. “Activity could pick up, but it may not be profitable activity,” ProPetro CEO Phillip Gobe said on June 2. Still, he predicted that the industry is “at......
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