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Crisis will transform oilfield service sector

Oilfield service providers were among the hardest hit by the coronavirus pandemic and resulting oil downturn, and the worst may not be over yet as the historic drop in rig count continues, said James Wicklund, managing director at Stephens Inc, during a webinar. Jim Whiteley, owner of Texas J&A Services, says the sector is ripe for consolidation and believes the industry will become leaner and more efficient after the pandemic.

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