Q4 2020 Ranger Energy Services Inc Earnings Call Transcript
Good morning, and welcome to the Ranger Energy Fourth Quarter 2020 Conference Call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Darron Anderson, CEO. Please go ahead.
Thank you, operator. Good morning. Welcome to Ranger Energy Services' Fourth Quarter 2020 Earnings Conference Call. Joining me today, as always, is Brandon Blossman, our CFO, who will offer his comments in a moment.
Getting started here, the fourth quarter marked the first real signs of our industry rebounding from the activity low points of 2020. With WTI prices widening in the $40 range during the quarter, operators began to increase activity, translating to a 22% growth in U.S. land rig count, and a 63% growth in frac spread count, although both metrics were starting from historic lows. Not surprisingly, Ranger experienced its first significant increase in activities within our production related rig operations. These type of
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