EarningsThe company reported Q3 EBITDA of approximately $88M, which was below the consensus of approximately $90M, and revenue of approximately $342M was about 5% below consensus.
Industry TrendsVolatility around the oil price combined with potential unwinding of OPEC+ production cuts probably means less spending on P&A activity.
Market ConditionsPricing for well intervention work is expected to largely stall in the medium term due to competition and market conditions.