2019 RIFs Cut Deep And Devon, Solaris, and Patterson-UTI Cut The Deepest So Far On A % Basis [Chart Of The Day]

This earnings season, a morbid data set is emerging from the shadows and becoming visible.

Everyone in the oilfield is well aware of the reduction in force (RIF) trend that swept across the US onshore oilfield last year and continues this year.

But the true extent of the damage has been unknown until now… It’s early, but the picture that is emerging is ugly. And it is going to get uglier…

There’s a lot more to this story…

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