On September 12, 2016, the EIA’s Drilling Productivity Report estimated that Utica Shale natural gas production reached ~3.6 Bcf per day in August 2016.
Patterson-UTI Energy’s net debt-to-EBITDA Patterson-UTI Energy’s (PTEN) net debt-to-TTM (trailing-12-month) EBITDA (earnings before interest, tax, depreciation, and amortization) trended upward from fiscal 2Q15 through fiscal 2Q16. In 2Q16, Patterson-UTI Energy’s net debt-to-EBITDA was 2.7x, or 208% higher than one year previously. Remember, net debt-to-EBITDA reflects how easily a company can repay its debts from its […]
Flotek Industries’ net debt-to-trailing 12 month adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) rose from 2Q15 to 2Q16.
In the past year, Flotek Industries’ revenue share from the United States has fallen. In 2Q16, FTK’s US revenue share fell to 75% compared to 84% in 2Q15.
RPC (RES) released its financial results for fiscal 2Q16 on July 27, 2016. That day, RPC stock reaction was mildly positive, rising 1% from the previous day’s close.
The correlation coefficient between Weatherford International’s stock price and crude from June 2015 to now is the lowest among our four OFS companies.
All four of our select OFS companies—Weatherford International, Core Laboratories, Dril-Quip, and RPC, Inc. (RES)—recorded YoY revenue declines in 1Q16.
The Utica Shale’s natural gas production reached 3.7 Bcf (billion cubic feet) per day in May 2016. That’s nearly unchanged from production in April 2016.
RPC, Inc.’s EV, when scaled by TMM adjusted EBITDA is significantly higher than the peer average. FTI’s EV-to-EBITDA multiple is the lowest in the group.
RPC, Inc.’s Technical Services saw a ~54% one-year revenue fall in 1Q16, whereas Support Services witnessed a ~52% revenue decline during the same period.
Based on the past year’s performance, many of the oilfield equipment and services stocks have underperformed the industry ETF. The slump in the US rig count, which started in October 2014, has negatively affected the OFS sector.
In fiscal 2015, RPC’s (RES) net-debt-to-EBITDA ratio stood at -0.54, down from the 0.34 it saw in 2014. The company’s long-term debt stood at zero in 2015.
The EIA estimates that Utica Shale natural gas production reached ~3.2 Bcf (billion cubic feet) per day in January 2016. That’s ~2.2% more than production in December 2015 and 54% more than production in January 2015.
Since 3Q14, FMC Technologies’ (FTI) revenues have decreased 22% through 3Q15. Lower North America drilling activity decreased FTI’s measurement solutions business, and a strengthening US dollar affected FTI’s revenues negatively during this period.
In the past year, Baker Hughes’ stock has returned -23% (net of dividends) until January 28. In the past year, BHI has outperformed the VanEck Vectors Oil Services ETF (OIH), which has returned -26.7%.
Approximately 81% of analysts tracking Halliburton have rated it a “buy,” whereas approximately 17% of analysts tracking the company have rated it a “hold.”
Ensco’s cash from operating activities (or CFO) deteriorated in fiscal 3Q15 over fiscal 3Q14. During this period, the company’s operating cash flow decreased 43% to $341 million.
RIG’s cash from operating activities (or CFO) deteriorated in 3Q15 compared 3Q14. During this period, the company’s operating cash flow fell 26.5% to $648 million.
NOV’s management indicates that it is actively looking for merger and acquisition opportunities to gain market share when the energy market upturn begins.
The number of active rigs at the Haynesville Shale was 33 in November 2015, up from 29 in October. A year ago, there were 49 drilling rigs in the region.
According to its Drilling Productivity Report released on July 13, 2015, the EIA expects key shale crude oil production to decrease at four key shales in August and increase at three others.
During the week ending July 2, 2015, the US land-based, or onshore, rig count rose by two from the previous week’s count. Last week, there were 833 onshore rigs.
During the week ending June 19, 2015, the US land-based, or onshore, rig count didn’t change from the previous week’s count—there were 830 land-based rigs.
