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RES - RPC Inc. Lingers But Is Not Far From A Recovery
RPC Inc.
The U.S. frac spread count and rig count have increased over the past quarter, leading to some improvement in RPC Inc.'s top line in Q3.
While margin can remain subdued following the weakness in pricing, the company will maintain its pressure pumping fleet in Q4 2020.
With zero debt and a healthy cash balance, the company can start to perform better than some of its overly leveraged peers in an uncertain environment.