RE:Earnings out !"Fourth quarter 2021 saw Canada’s highest inflation rate since the early 1990s(a) which has increased overall cost structures. E&P companies generally have been reluctant to accept improved pricing for oilfield services; instead they have continued to focus on maximizing their own financial performance. Current oilfield service pricing is insufficient to generate appropriate returns relative to rising operational costs."
"Given inflation risk and rising costs, current oilfield service pricing is insufficient for Essential to generate appropriate returns or support the expansion of crews and activation of additional equipment."
Working on getting better pricing for services which should ? be possible given the huge amount of debt being paid off by oil and gas companies.