In the latest US rig count report released by Baker Hughes (BHI), the number of active US rigs drilling for oil grew by four to 804 last week, compared to the previous week.
In the latest US rig count released by Baker Hughes (BHI), the number of active US rigs drilling for oil and gas stayed flat between December 15 and December 22 at 70.
On August 4, Baker Hughes will release its weekly US natural gas rig count report. The US natural gas rig count rose by six to 192 rigs on July 21–28, 2017.
On June 12, 92% of the analysts tracking Halliburton rated it as a “buy,” ~3% of the analysts rated it as a “sell,” and the other 5% rated it as a “hold.”
From December 30, 2016, until the week ending May 26, 2017, the US rig count rose 10% and closed at 908. The international rig count rose 1% in April 2017.
National Oilwell Varco’s (NOV) EV (enterprise value) when scaled by the trailing 12-month (or TTM) adjusted EBITDA isn’t meaningful due to its negative earnings.
In the past couple of years, some of the major US upstream and integrated companies have reduced their capital expenditures, following crude oil’s sharp price decline.
In this article, we’ll analyze the correlations between West Texas Intermediate (or WTI) crude oil and the stock prices of Schlumberger, Halliburton, Baker Hughes, and National Oilwell Varco.
The Energy Chemistry Technology segment accounted for 76% of Flotek Industries’ revenues in 1Q17. The segment’s revenues rose 36% in 1Q17—compared to 1Q16.
In the past year, Schlumberger’s (SLB) North America revenues declined 14%. In 1Q17, SLB’s revenues from North America totaled 28% of its total revenues.
In this series, we’ll compare four of the most prominent US oilfield services and equipment companies—Schlumberger (SLB), Halliburton (HAL), Baker Hughes (BHI), and National Oilwell Varco (NOV).
On April 10, ~58% of the analysts tracking Baker Hughes rated it as a “buy” or some equivalent, ~42% rated the company as a “hold,” and none of the sell-side analysts rated it as a “sell” or an equivalent.
BHI’s Latin America operations fell 47%, which was the company’s highest revenue decline. The company’s Middle East and Asia operation was the most resilient, falling ~16%.
In 1Q17, analysts expect an adjusted loss of ~$0.19 per share for Baker Hughes (BHI), which is a 38% improvement over its adjusted loss of $0.30 per share in 4Q16.
In 4Q16, Halliburton’s total debt fell 19% compared to a year earlier, and its cash and marketable securities fell 60%. In effect, its net debt rose 59% to ~$8.4 billion as of December 30, 2016.
In 4Q16, Halliburton’s North American revenue share rose to 45%, compared to 43% in 3Q16. Weatherford International’s North American revenue share was ~37% in 4Q16.
In this article, we’ll discuss Halliburton’s 2016 value drivers. From 4Q15 to 4Q16, Halliburton’s Drilling and Evaluation (or D&E) segment’s revenue fell 22%.
The correlation coefficient between Schlumberger’s stock price and crude prices from March 2016 to March 2017 is 0.62, indicating a positive relationship.
In the past year, Weatherford International’s North American revenue share has fallen marginally. In 4Q16, its North American revenue share was ~37%, compared to 37.5% in 4Q15.
We’ll now look into Flotek Industries’ (FTK) segment performance in 4Q16. The Energy Chemistry Technologies segment accounted for 68% FTK’s 4Q16 revenues.
In this article, we’ll look at Wall Street analysts’ targets for the oilfield equipment and services (or OFS) companies we discussed earlier in this series.
In 4Q16, Baker Hughes’s revenue generated outside North America fell compared to 4Q15. The fall was the highest among our selected oilfield equipment and services companies.
In this series, we’ll compare the four most prominent US oilfield equipment and services (or OFS) companies, all of which have market caps of over $5.0 billion.
Apache Corp’s increased focus in the Permian, along with its Alpine High discovery in the Delaware Basin within the larger Permian Basin, could be a game-changer.
Baker Hughes (BHI) released its financial information for 4Q16 on January 26, 2017. Its stock reacted slightly negatively immediately following the earnings release.
Baker Hughes (BHI) released its 4Q16 financial results on January 26. The company posted total revenues of ~$2.4 billion in 4Q16, down 29% from ~$3.4 billion in 4Q15.
On December 12, 2016, Patterson-UTI Energy (PTEN), one of the prominent contract drillers in North America, disclosed that it agreed to acquire Seventy Seven Energy (SVNT).
On January 10, Baker Hughes had an implied volatility of 29.5%. Baker Hughes accounts for 3.3% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES).
From September to December, the international rig count fell 1%. A lower international rig count could impact Baker Hughes’s revenues and earnings growth.
From September 30, 2016, until the week ending January 6, 2017, the US rig count rose ~27%. It could increase Baker Hughes’s revenues and earnings in 4Q16.
In 4Q16, analysts expect an $0.11 adjusted loss per share for Baker Hughes. They expect Baker Hughes’s adjusted loss to improve 29% in the coming quarter.
From 3Q15 to 3Q16, Halliburton’s (HAL) Drilling and Evaluation (or D&E) segment revenues fell 30%. From 3Q15 to 3Q16, its Completion and Production (or C&P) segment revenues fell ~32%.
From September to November 2016, the international rig count fell 1%. A lower international rig count could decrease Halliburton’s (HAL) revenues and earnings in 4Q16.
Flotek Industries’ international revenue In the past year, Flotek Industries’ (FTK) revenue share generated outside the United States has gained. FTK’s international revenue rose to make up 21% of its total revenue in 3Q16, compared with 16% in 3Q15. In comparison, Schlumberger’s (SLB) revenue from international operations, by the end of 3Q16, rose to ~76% […]
FTK’s segment-wise income We discussed Flotek Industries’ (FTK) revenue in the previous part of this series. Operating income–wise, FTK’s Energy Chemistry Technologies segment fell 56.6% between 3Q15 and 3Q16. In contrast, its Consumer and Industrial Chemistry Technologies segment’s operating income rose ~41%. Between 3Q15 and 3Q16, Flotek Industries’ US revenue fell ~21%. Its revenue from […]
Flotek Industries’ revenue growth by segments Flotek Industries’ (FTK) Energy Chemistry Technologies segment accounted for 61% of FTK’s 3Q16 revenue. Revenue in this segment fell 25% between 3Q15 and 3Q16. Flotek Industries makes up 0.15% of the iShares S&P Small-Cap 600 Value ETF (IJS). The energy sector accounts for 4.3% of IJS. The Consumer and […]
What does Flotek Industries’ management think? Flotek Industries’ (FTK) management believes the company resisted energy market weakness through steady performance in the energy chemistry segment. In the company’s 3Q16 conference call, Flotek Industries CEO John Chisholm stated that “we feel fortunate that our focus on high-end value added technology, especially in our energy chemistry segment […]
HAL’s Drilling and Evaluation (or D&E) segment fell 62% in 3Q16 over 3Q15 due primarily to low rig count, lower pricing for HAL’s products and services, and upstream producers’ budget cuts.
The EIA estimates that the Niobrara Shale produced ~0.40 million barrels per day of crude oil in November 2016. That was 17.0% less than production in November 2015.
