Sequeira Energy Synopsis – April 2018 Newsletter

Our Sequeira OFS Index increased 5% month-over-month to the end of April though was down 5% year-over-year.

While spring break-up is in effect, Q1 2018 earnings season is getting started. Precision Drilling reported solid Q1 results on strengthening activity levels in the United States. In Canada, Precision noted that operators remain focused on capital discipline and experienced similar activity levels to 2017. A different message was heard from pressure pumper Calfrac however. Although Q1 started off slow due to cold weather, Calfrac’s Canadian equipment was operating near full capacity for most of the quarter. Going forward, Calfrac expects strong activity levels in May and June.

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.

Download the Sequeira Energy Synopsis – April 2018