The only problem with your argument is "fact". If BLY is only operating at sub ~30%, then your comment "BLY cannot fall as no one can pick up its business and someone there has to do the job for miners", is just ridiculous. The world is flooded with equipment (don't you get it?) and there is plenty of people to pick up the ~30% of rig utilisation that BLY has operating. You can not re-invent a circle either, and there is a plethora of suppliers to fill in also. Sorry.
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