Downhole hire business is a niche that is hard to replicate in a hurry.
They are becoming a turnkey operator , which is great as far as a client is concerned. Heaps of work ahead, and hire of 1 rig means they can let go 25% of capacity if things do turn down. One of the big issues with MS is that they have all been primed for growth , ie no ability to shrink in need. TTN is in better shape than most to cope with a drop in demand.
Financials look similar to many good private operators I have dealt with and looks like they still have that private company mentality - always good when they think like shareholders.
But as you say sentiment tars everyone with the same brush. Good time for picking up diamonds in the rough.
Baraka
AUG Price at posting:
$2.94 Sentiment: Hold Disclosure: Held
