Our Sequeira OFS Index was virtually unchanged month-over-month to the end of May, though was up 1.5% year-over-year.
Rigs continue to be added in the Western Canadian Sedimentary Basin (WCSB) after a weaker than expected Q1 F18, which was largely attributable to colder than normal weather conditions. With spring break-up over, activity has been picking up and all indications are that the second half of 2018 should be stronger than the comparative period from last year. We anticipate seeing strong results from certain OFS segments, most notably pressure pumpers who are benefiting from operators increasing the intensity of well completions with increased laterals, stages, and sand.
For more information, download the Sequeira Energy Synopsis from the link below. The appendix includes a sector drill down of the Sequeira Oilfield Services Index.