Question-and-Answer Session
Operator
Thank you. (Operator Instructions). We will take our first question from Pierre Conner with Capital One. Please go ahead.
Pierre Conner - Capital One
Good morning, gentlemen.
Bill Stewart
Good morning.
Jeff Smith
Good morning.
Pierre Conner - Capital One
Some good results in the margins in US, [seems] in a quarter, but I know the outlook is the most important thing. Relative to that, Bill, you spoke of CapEx adjustments and a lot of other companies are speaking of headcount reductions as well and permanent cost structure reductions. What else can you tell us about specifics on other cost reductions that you might be undertaking?
Bill Stewart
As I mentioned, we're monitoring the marketplace very closely and we've always been one to aggressively adjust our cost phase as the market presents itself to us. So, I think that's enough said. We'll do a good job at resizing the company when the occasions develop themselves for the need.
Pierre Conner - Capital One
Okay.
Bill Stewart
CapEx, actually we probably would have brought CapEx down just maybe a little more, but with the current commitments we have out there that needs to work itself out of the system and 2010 at this point is viewed to be a year of significantly lower capital spending.
Pierre Conner - Capital One
Okay. On a big picture, there has been some comment about an inventory of drilled and cased but not yet completed wells onshore. Do you have a perspective on that? Will that, in the short-term mute some of the rig count decline relative to the completion activity from your perspective?
Bill Stewart
We've heard about that occurring, but it's really not to any significant extent. I think it's more a nice conversation piece as opposed to any material event happening in the marketplace.
Pierre Conner - Capital One
Okay. And then my last one, either you or Dave, but in the past you've spoken about a turndowns in the last quarter there was a comment that a lot of that turndown was due to a lack of availability of province in some particular regions, Haynesville, I guess particular. You anticipated those things working themselves out, I'm sure they are.
And so my question are they worked out? Are we still seeing some impact of delay and turndown due to a [province] or is that basically behind us now?
Bill Stewart
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