RE:RE:one line says it all in press release "Cathedral’s management team has navigated through previous downturns and we expect to do the same this time."
"Operationally, our team has been executing on our Better Performance Every Day mantra and setting record drilling results for our clients. Those successes have and are expected to be, leveraged to attract new clients."
They do need to get EBITDA up, but the results on that front look in line with those just released by ESN and HWO.
CET is operationally leveraged to Permian activity. That's probably one of the reasons Wilks out of Texas became interested.