C&J Energy Services expects improved results in each operating segment during Q2
The company said, "Focusing on the Q2, we currently expect improved financial results in each of our operating segments. At the end of the Q1 we experienced a rebound in activity levels and many of the challenges experienced earlier in the quarter subsided. In our Completion Services segment, customer demand for our fracturing operations is stable, and wireline and pumpdown activity levels have improved nicely off the bottom reached during the first quarter. While the pricing environment remains challenged in our cementing business, we believe the drilling rig count with our smaller public and private customers in West Texas will continue to recover from the low point reached late in the first quarter. Our WC&I segment is expected to also benefit from the deployment of all our large diameter coiled tubing fleet during the Q2. Now that the seasonally driven weather delays that are typical in both the Q4 and Q1 have passed, our Well Support Services segment is experiencing steady customer demand for workover and well maintenance services. Clearly, the outlook is more favorable, and we are well positioned to grow both revenue and profitability across our service lines and for each of our operating segments. With that said, the oilfield services environment remains extremely competitive and customers remain very price sensitive. We will remain focused on the things that we can control and stay committed to generating targeted returns, maintaining capital spending discipline, and generating free cash flow in 2019."