remains extremely but outlook XXXX Thank you, visibility challenging. this There Guy. very time, is for little the at
anticipating of are XX% be steep and will across QX earnings the pressure declines likely QX, all more throughout the in year, than We and QX, coupled with reflected versus in lines. of pricing service activity which remainder
land are oil an this severe these with be declines and but long to and/or many U.S. anticipate reach capacity rig prices counts QX. anticipating how decline and unknown, will all by least suspending time, last likely QX budgets than storage CapEx year-over-year this continues At may QX due activity extremely XXX. into at below we operators we and difficult potentially more or still could issues. many quarter, near How are half, U.S.
XX to U.S. active decline averaged as XXXX could during crews to XXX XXX as frac XXX to over which XXXX. XXX, and in also between low
some their wells We shutting issues. operators programs, large while others due seen storage price to their in of have or entire capacity are portion oil delaying a rig unprofitable
uncertainty we macro With can in the and our control are and service. so debt preservation what the on we focused is our much backdrop, of priority cash highest
We have Nine of with corresponding prolonged across uniquely depressed number majority high our cash, a normal base and we CapEx cost through stretch enabling are preserve a cost to the cost of changes model, a swiftly in positioned quickly because comprising reductions period variable and asset market to markets. a made and variable business organization reductions vast of our market with contract for and cost OpEx light and endure the
$XX total of As million our to a different on $XX based activity on guided a XXXX million last anticipated to call, reminder, level. CapEx we
includes our With $XX capital, million expenditure CapEx XXXX. range have ability to of of $X.X from will to the related delay our our spreads, This $XX equipment stacking cementing approximately been and guidance our to million XXXX which new capital growth into million. delayed
reduce cutting can to costs the will measures we and and taken To-date, market continue significant have dictates. as cost
safety ongoing from have Nine. reductions they reductions swift, site customers the expect include not these These aggressive well While well our should execution as as annual and the standards following. and been impede
to and reduced as reductions payroll annual count have we will more head continue by of approximately dictates. These We payroll $XX difficult than XX%. and which our million, always reduction extremely are adjust activity represents a
capture have led We through severe XXXX will that transition previously key to the then employees in a the maintain recovery. downturn and during organization quickly growth
and reductions count across Head basins as throughout level amongst are the service as lines spread support corporate well functions.
continue to and will head We market as change. evaluate reductions conditions act count quickly
bonuses to XX% organization certain XXXX. cash cancellation to including the effective the XX%, have the year. a ranging April entire reductions This salaries for salary in threshold with of over taken Employees executives, from is for which X, addition was
to services effective have Directors Our XXXX. XX% reduce X, also at their Board retained April least for agreed by cash
We well as when XXXX our warranted. closely vendors have suspended also very and the cost and with and XXX(k) for match reduction, as providers effective service April are securing X, alternative vendors fee working
Finally, as interest we true expense look at only cost. our our fixed
on focused dynamic including IT renegotiating facility QX insurance fixed costs, to this agreements, market, of or costs, guidance are consolidation, reduce the we many at We and be like others not will providing ways eliminate time. because lease
be of field oil the has and one this This the company quarter is worst ever likely to seen.
time. market many ourselves guidance for We and at this on providing accurate the remain prided have too unknowns
that in both for and These can very outlook is field oil the will companies. those is diversity prove draconian how important near service opportunity be there companies geographic also times product survive. term, While for
gassy the vulnerable. be to year, most appeared the At beginning the the regions of
reduction major future potential significant activity opportunity in XXXX. and in resulting producing and gas coupled regions, provide further prices CapEx associated natural could resulted Northeast in Haynesville decrease and for has the However, the reduction and XXXX in with in increases gas stronger a oil production in
could these we declines the and a Today, on value regions, advantage for Our the region. offset maintaining company oily cash shareholders. focused partially our exposure preserving significant provide to our for remain and in
market to proven ability have We costs. the our and gain last manage during downturn significant share
and can a business quickly on our we growing Additionally, ramp capitalize market.
adjusted $XX million approximately that EBITDA approximately generated to $XXX we XXXX, XXXX. of in In million growing
an designed model us is. which industry the always business as with imperative, reminded, market. volatile allows transition This and I significant flexible strategically adaptability We with quickly and leverage, elastic operating is dynamic how have this to am
to up open call now Q&A. will We the
