In Q4, STEP Energy’s performance lagged in the US while Canada maintained its resilience. Natural gas and LNG products are set to drive its performance in 2025 and beyond. However, weather-related challenges can derail its short-term performance. The US market will also likely recover, but persistent challenges associated with completion activity can slow down the process. Despite that, the company improved its share of dual-fuel frac spreads in 2024.
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