Pason Systems Inc Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Keith MacKey - RBC Capital Markets, Research Division - Analyst : First, wanted to start out just, Jon, on your comments regarding the likelihood for increases in rig counts in North America through 2024. I appreciate your comments on the oil supply-demand storage macro, and we certainly, I would say, are in a similar camp. But can you just talk a little bit about what you're seeing in terms of what your business and how it's setting up for incremental demand? Are you seeing an increased or accelerating level of inquiries as new rigs are needed to go back to work? Or what is it in your business that you'd say is helping underpin that confidence in next year's outlook?

Question: Keith MacKey - RBC Capital Markets, Research Division - Analyst : Yes. Got it. Makes sense. Can you just talk a little bit about the competitive environment for Pason, you certainly had a very strong market share in U.S. and Canada the last several years, and you mentioned pricing stronger year-over-year, which isn't true for a lot of different service lines out there. Can you just talk about the competitive dynamics leading to that and where you ultimately see pricing go from here? And I know adoption is a key part of that conversation as well, so maybe if you could kind of weave all that in, it would be great.