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Patterson-UTI: What to Expect in the U.S. Drilling & Frac Market for 2020
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In its Q4 conference call, Patterson-UTI detailed its expectations for 2020.
Quick read from the company conference call.
Drilling: Rig Count bottom (see chart below) in Nov/Dec 2019. Drilling: Expect Rig count to moderately increase throughout 2020 Drilling: Permian Basin to partially offset continued weakness in other markets Drilling: Seeing demand for Rigs that uses Natural Gas as a fuel source Fracing: Currently operating 10 fleets, expect to stay that way Fracing: Market still oversupplied Fracing: With the addition of rigs from H&P and Patterson, expect small uptick in operations. Fracing: Current pricing is unsustainable, does not support reinvestment of capital into the market Fracing: "In terms of the outlook, the supply side of the equation is headed in the right direction…- ✓ Full news archive — U.S., Canada & international coverage
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