Reports Q1 revenue $46.64M, consensus $41.64M. Revenue per day in the first quarter of 2024 was $30,313. CEO Anthony Gallegos commented, “Our financial results for the first quarter came in ahead of expectations driven by strong cost control across the Company’s operating and support functions and organizational changes made early during the quarter. From an operational perspective, during the quarter we relocated two additional rigs from the Haynesville to the Permian Basin and completed a 200-to-300 series conversion in the process. Today, all but one of our current operating rigs are 300 series rigs and we have scheduled our remaining 200 series rig for conversion later this year. Looking forward, while we expect our reported net average working rigs during the second quarter to remain flat compared to the first quarter driven by elevated rig churn in the market, we continue to be successful in placing rigs with customers with longer term drilling programs that we believe will reduce internal rig churn and create opportunities to increase our average operating rig count during the back half of the year.”