Alex Chamberlin

The EIA expects less natural gas production at four key US shales by January 2017 compared to November 2016. It expects production to rise at three key US shales.

The U.S. onshore, or land-based, rig count increased by four rigs—from 1,865 to 1,869—during the week ending September 19. Land-based rigs include 13 inland water rigs. This is the highest onshore rig count in the past two years. It’s the highest rig count since August 17, 2012. This marks the eighth increase in the past ten weeks.

Schlumberger’s trailing-one-year stock price has fallen 12% as of June 16, 2017, while XLE, the broader energy industry ETF, has fallen 3%.

WFT, SPN, and FMSA have significantly underperformed the SPDR S&P 500 ETF (SPY), which has produced 23.0% returns since November 3, 2016.

For most of the last two years, WTI crude oil has been range-bound between ~$85 per barrel and ~$110 per barrel.

Since the week ending September 29, 2017, Weatherford International stock has fallen 7% until October 6, 2017. OIH has generated -2% returns.

National Oilwell Varco’s (NOV) capital expenditure or capex fell ~32% in fiscal 2017—compared to its capex spend in fiscal 2016.

Between December 2014 and December 2016, Baker Hughes (BHI) stock hit its peak in April 2015. It troughed at ~$39 in January 2016.

In the week ending September 18, 2015, the US offshore rig count didn’t change. The offshore rig counts have averaged 33 over the past eight weeks.

In 2013, the company processed an average of 780.1 million cubic feet per day of natural gas and produced an average of 91.9 thousand barrels per day of NGLs.

Let’s see which energy company stands out as the most efficient in reducing debt loads and improving leverage ratios and which ones are laggards.

Revenues from Weatherford International’s (WFT) Latin American region fell the most by 18.5% from 2Q16 to 2Q17.

Exxon Mobil alleged that the Venezuelan government illegally expropriated its Venezuelan assets in 2007 and paid unfair compensation.

Baker Hughes, a GE Company (BHGE), is the largest company by market capitalization in our select set of major oilfield services and equipment companies.

Williams Companies Inc. (WMB) engages in the energy transport and processing infrastructure business. WMB’s assets are mainly located in the U.S. However, it has operations in Canada.

The short interest in Schlumberger (SLB), as a percentage of its float, is 1.5% as of August 7, 2017—compared to 1.6% as of June 30, 2017.

Short interest in Nabors Industries (NBR) as a percentage of its float was 11.4% as of June 19, 2017, compared to 10.1% as of March 31, 2017.

In the past one year, SLB has performed nearly in line with the industry ETF and has hugely underperformed the broader market index.

Schlumberger Limited is a Houston-based energy company. It provides technology, integrated project management, and information solutions to oil and gas exploration and production (or E&P) companies around the world.

Between April 16 and April 23, Halliburton (HAL) stock’s price correlation with crude oil was 0.99, showing that Halliburton and crude oil prices have been strongly correlated in the past week.

Weatherford International’s (WFT) short interest as a percentage of its float was 14.9% as of May 22, 2017, compared to ~14% as of March 31, 2017.

On March 31, 2017, Basic Energy Services’ (BAS) stock price had fallen 6% from December 30, 2016.

Halliburton’s (HAL) stock price correlation with crude oil on July 20–27 was 0.22—a moderately positive correlation.

By market capitalization, Schlumberger is the largest OFS company. Schlumberger’s stock price has declined 4% since May 3, 2017.

On November 16, Weatherford International (WFT), an oilfield equipment and services company, disclosed that it issued 84.5 million ordinary stocks.

On March 31, 2017, Nabors Industries (NBR) stock was 20.0% lower than it was on December 30, 2016. In 1Q17, NBR’s adjusted earnings were negative.

Schlumberger’s (SLB) Drilling segment witnessed the highest revenue fall of 20% in 1Q17—compared to 1Q16. Its Production segment fell ~8%.

On October 1, 2014, Enterprise Products Partners (EPD) announced its acquisition of Oiltanking Partners L.P. (OILT), a midstream energy master limited partnership

Halliburton’s (HAL) cash from operating activities (or CFO) in 2Q17 was a huge improvement over 2Q16 as well as an increase over 1Q17.

Halliburton’s (HAL) CFO (cash flow from operating activities) in 2017 was a significant improvement over 2016.

Currently, the biggest concern affecting Exxon Mobil (XOM) and other energy companies is the falling crude price and falling oil and gas production.

Approximately 66% of the Wall Street analysts tracking Nabors Industries rated it as a “buy” or some equivalent.

In this series, we’ll analyze the top five OFS (oilfield equipment and service) companies by net debt-to-equity ratio in fiscal 2017.

Short interest in Schlumberger (SLB) as a percentage of its float is 1.2% as of July 6, 2017, compared to 1.2% as of March 31, 2017.

Schlumberger’s (SLB) Drilling segment witnessed the highest revenue fall of 32% in 4Q16 compared to 3Q16.

In 2013, Phillips 66 generated 67%, 13%, and 6% of its revenues from the United States, the United Kingdom, and Germany, respectively. The company’s other foreign operations contributed ~16%.

In the past year, Schlumberger’s stock price rose until January 2017. Schlumberger’s revenue fell slowly in the four quarters leading up to 1Q17.

Weatherford International (WFT) stock fell 16.0% in the week ended November 17, 2017. The VanEck Vectors Oil Services ETF (OIH) generated a return of -6.0% during this period.

Schlumberger’s yearly price-to-earnings ratio is in line with the group. Haliburton has the lowest price-to-earnings ratio.

In 2Q17, Schlumberger reported a net loss of ~$74 million—a sharp improvement compared to 2Q16 when it reported a net loss of $2.16 billion.

Patterson-UTI Energy’s (PTEN) dividend yield fell to 0.29% on March 31, 2017. Since then, its dividend yield has risen to 0.38% as of June 2, 2017.

National Oilwell Varco’s TTM PE (price-to-earnings) multiple of ~15x is lower than its peer average in the group.

Since April 26 when National Oilwell Varco released its Q1 2018 financial results, NOV stock has risen 10%.

Phillips 66 (PSX) is an energy company. It’s based in Texas. Phillips 66 started operating independently as a publicly-traded company on April 4, 2012, when it separated from ConocoPhillips (or COP).

On March 10, 2017, Schlumberger’s (SLB) implied volatility was 17.7%, having fallen from 19% since its 4Q16 financial results were announced on January 20.

On March 24, 92% of the analysts tracking Halliburton rated it as a “buy,” ~5% rated it as a “hold,” and 3% rated it as a “sell.”

Schlumberger and Cameron are contemplating a merger because their drilling and production systems would be integrated from “pore to pipeline.”

On February 24, ~14% of the analysts tracking National Oilwell Varco rated it as a “buy,” ~74% rated it as a “hold,” and 12% rated it as a “sell.”

Sell-side analysts expect Flotek’s adjusted EBITDA to rise sharper in the next four quarters compared to its peers.

In 1H17, Weatherford’s revenues fell 8%—compared to 1H16. It managed to lower its net losses significantly during this period.