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OIS - Oil States: Free Cash Flow Is A Positive Sign
Oil States International Inc.
Oil States CEO Cindy Taylor. Source: Tudor Pickering
The coronavirus caused business activity and oil demand to crater. OPEC supply cuts helped shore up oil prices. Brent oil is now in the $45 range, yet it still may not be robust enough to drive E&P in the oil patch. That could create headwinds for Oil States International (OIS) and other oil services firms. In Q2, Oil States reported revenue of $146.25 million and GAAP EPS of -$0.41. Revenue fell over 30% sequentially.
North America land drilling had been the hottest segment of the