Bullish
$PDS Nice to see PD catching a bid even if it does fade a bit from here. Positive tone on the CC today, the 80 rigs running in CA compares to 58 ly. In the US 54 rigs vs. 81 this time ly (most of that systemic but they did lose some US market share in Q4). 18M shares retired now down to 275M outstanding. All about the rig count now and the market backdrop- - if it holds up so will FCF and valuations should come back in line.
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