With the ongoing pandemic, global crude demand has dropped by nearly 33%. To tackle this, E&P companies must pare costs, which has led to an unprecedented drop in drilling and completion activity. Lack of activity has led to a historical impact on Oilfield Services companies’ ability to generate cash flow, creating significant risk. Can the sector survive the near absence of work?
Watch the webinar replay to get an update on the current market overview, hear our predictions for activity, and learn about the likely financial scenarios that the OFS sector will find itself in for 2020. We will also cover the impact of various strategies that different OFS companies have adopted and the expected outcomes.