RES - Cost Savings And Zero Debt Can Help RPC Outlast The Energy Depression
RES Fights To Stay Fit
The current energy market crisis has hit the U.S. onshore energy hard, leading to further deterioration in an already weak pressure pumping equipment business. The near term is not conducive to completions activity turnaround, although the recovery in the crude oil price has provided a glimpse of hope. For the past couple of quarters, RPC, Inc. (RES) has been preparing to face a sustained downturn by keeping a low pressure pumping fleet count. Its savings from cost-cutting initiatives can offset much of the loss in 2H 2020.
RES has no