The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Keith MacKey - RBC Capital Markets - Analyst
: Hey, good morning. I'm just curious about the completion segment. Can you just talk a little bit more about what where you are in terms of the
roll out of the completion IWS business. And ultimately what needs to happen to see the margin inflection that you talked about there in your
prepared remarks, Jon?
Question: Keith MacKey - RBC Capital Markets - Analyst
: Got it. Thanks for that color. Maybe just secondly on capital allocation talked about $65 million dollar capital program. Can you just maybe discuss
a little bit about where that, where that's going to be allocated between maintenance and then the completion growth versus the mud analyzer.
Question: Keith MacKey - RBC Capital Markets - Analyst
: Okay, got it. Thanks very much.
Question: Aaron MacNeil - TD Securitie - Analyst
: Hey, morning all. Thanks for taking my question. Maybe building on Keith's first question, and I can appreciate market conditions are pretty tough,
but can you speak to the pace of customer acquisition at IWS? Like, are you adding new customers? Are you starting to grow again with existing
customers? Like what's sort of that dynamic look like?
Question: Aaron MacNeil - TD Securitie - Analyst
: Got you. Okay, and similar question on the mud analyzer. Just can you speak to its performance relative to, I guess your own internal and customer
expectations and what you know the potential appetite might be for other customers that might have to pay the full rate now that you've sort of
got some operating in the field.
Question: Aaron MacNeil - TD Securitie - Analyst
: Okay, maybe I'll ask one more. I don't want to leave out Selene. Are there any firm targets for 2025 you've had in terms of capital allocation to the
buyback? Like, is there, anything internally, even if you don't want to disclose it where you say we're going to put X dollars towards the buyback
or do X number of shares?
Question: Aaron MacNeil - TD Securitie - Analyst
: But nothing's concrete in terms of like a target.
Question: Aaron MacNeil - TD Securitie - Analyst
: Thanks. I appreciate the time.
Question: John Gibson - BMO Capital Markets - Analyst
: Morning all. I just wanted to follow on Aaron's question, maybe that's a different way. I mean, obviously your evaluation is compressed quite a bit.
It looks, solid in the US and Canada, and you still build cash throughout 2024. I'm wondering if you could, I know it's in DNA to old cash on the
balance you wonder if you could look it a little bit into that cash balance to wrap the buyback here in 2025.
Question: John Gibson - BMO Capital Markets - Analyst
: That's fair. It seems to me like you can kind of do it all here, especially, with where CapEx is at, growth is at, and maintenance is that. So you have
to come, I guess. But thanks, I appreciate the response.
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