Well, they delivered on the cost cutting front and managed to generate a surprising amount of free cash in the second quarter. As a reward Bank of America analyst Chase Mulvehill upped his price target to $18. We think this is baked in and further gains could be seen as we close out the year. In this article we will review the shale recovery thesis for generating continued gains in this stock.

Note - this article appeared in the Daily Drilling Report on July 23 when the stock was at $14.80. At today's price members have had the opportunity to earn 12% on an investment in three weeks.

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