RES - RPC Has Many Worries Balance Sheet Is Not One Of Them
RES Lacks Catalysts
In Q4, the performance of RPC, Inc. (RES) - a specialized oilfield services and equipment provider - turned south once again as the excess supply of the pressure pumping equipment, completions activity fall, and the upstream capex decline continued. The early part of 2020 is unlikely to provide much encouragement to the investors expecting the company to turnaround.
On a more optimistic note, the DUC wells signal a gradual recovery in the completion activity. I think, after the lowly productive frac fleet retirement, RES is prepared well in improving productivity