TPH EQUITY RESEARCH | DECEMBER 2019
George O’Leary, Byron Pope, Taylor Zurcher & Dhruv Kharbanda | TPH & Co.
Downing is an oilfield equipment and products manufacturer acutely focused on enhancing efficiencies for its customers in the oil patch, primarily via their new Freedom Series (“FS”) completion system. We went out to visit the team in their OKC headquarters and to take a look under the hood at the new completion solutions offering. We enumerate a number of incremental benefits that the FS system offers in our full report (available for download), but at a high level, we believe that increasing hours pumped / frac stages per day and reducing NPT are the two primary reasons oil & gas players should consider the system as a valuable weapon in their well completions arsenal.