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RPC, Inc. (RES) provides specialized oilfield services and equipment primarily to the E&P producers in the U.S. and the international markets. Given the current headwinds in the U.S. onshore market, I do not think RES will be able to turn around in the short-to-medium term.
The excess supply of the pressure pumping equipment and the upstream capex decline will continue to affect the hydraulic fracturing activity, which is likely to keep the pricing for pressure pumping services depressed in the near term. RES has chosen to protect the