2 unchanged sentences
The outbreak of COVID-19 has spread across the globe and has been declared a public health emergency by the WHO and a National Emergency by the President of the United States.
−Removed: The extent of the COVID-19 outbreak on our operational and financial performance will significantly depend on certain developments, including the duration and spread of the outbreak and its continued impact on customer activity and third-party providers.
−Removed: The direct impact to our operations began to take affect at the close of the first quarter ended March 31, 2020, and has continued through the second quarter ended June 30, 2020, however the extent to which the COVID-19 outbreak may further affect our financial condition or results of operations is uncertain.
+Added: The extent of the impact of the COVID-19 outbreak on our operational and financial performance will significantly depend on certain developments, including the duration and spread of the outbreak and its continued impact on customer activity and third-party providers.
+Added: The direct impact to our operations began to take affect at the close of the first quarter ended March 31, 2020, and has continued through the third quarter ended September 30, 2020, however the extent to which the COVID-19 outbreak may further affect our financial condition or results of operations is uncertain.
At the time of this filing, cases of COVID-19 in the U.S.
−Removed: were increasing rapidly, particularly in Texas, where we conduct significant operations.
+Added: remain high, including in Texas, where we conduct significant operations.
For more information, please see “Item 2.
3 unchanged sentences
For a complete discussion of our interest rate risk, see our Annual Report.
−Removed: As of June 30, 2020, we had $5.0 million outstanding under our Credit Facility, with a weighted average interest rate of 3.1%.
−Removed: As of June 30, 2020, the aggregate principal balance outstanding was $22.7 million under the Financing Agreement, with an interest rate of 9.5%.
+Added: As of September 30, 2020, we had $3.0 million outstanding under our Credit Facility, with a weighted average interest rate of 3.2%.
+Added: As of September 30, 2020, the aggregate principal balance outstanding was $20.2 million under the Financing Agreement, with an interest rate of 9.5%.
A hypothetical 1.0% increase or decrease in the weighted average interest rate would increase or decrease interest expense by approximately $0.2 million per year.
1 unchanged sentence
The majority of our trade receivables have payment terms of 30 days or less.
−Removed: As of June 30, 2020, the top three trade receivable balances represented approximately 14%, 12%, and 8%, respectively, of consolidated net accounts receivable.
+Added: As of September 30, 2020, the top three trade receivable balances represented approximately 17%, 12%, and 10%, respectively, of consolidated net accounts receivable.
Within our High Specification Rig segment, the top three trade receivable balances represented 14%, 9% and 9%, respectively, of total High Specification Rig net accounts receivable.
4 unchanged sentences
The market for our services is indirectly exposed to fluctuations in the prices of oil and natural gas to the extent such fluctuations impact the activity levels of our E&P customers.
−Removed: See “— Recent Events.” Any prolonged substantial reduction in oil and natural gas prices would likely affect oil and natural gas production levels and therefore affect demand for our services.
+Added: See “— Recent Events” above for further details.
+Added: Any prolonged substantial reduction in oil and natural gas prices would likely affect oil and natural gas production levels and therefore affect demand for our services.
We do not currently intend to hedge our indirect exposure to commodity price risk.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.