High-Spec Rigs Being Laid Down

We have taken inventory of the latest high-spec rig count, highlighting a noticeable drop in demand as large / public E&Ps finally start to cut (public E&P count was UP 2% in 1Q19). IF public E&Ps live up to their 8-10% capex cut y/y,  high-spec rigs could have further downside, along with frac fleets that could soften further in 2H19 (most risk in non-Permian areas).

For access to the full report visit: https://corasresearch.com/reports/

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