In an interim update posted this morning, oilfield chemical supplier Flotek positively revised its outlook to account for a more constructive US drilling and completions market as 2016 winds down.
Last week we wrote about how the consensus 4Q slump is a no show this year. Flotek’s announcement provides confirmation and is likely the first of several positive pre-announcements from oilfield service companies that will quantify more positive market conditions than previously expected for 4Q16.
We discuss Flotek’s outlook and identify other companies to watch for positive revisions in the weeks ahead.
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