We had a big storm in Sugar Land yesterday that knocked out our power for ten hours. Probably "Climate Change".
I just finished posting the updated Watch Lists to the website when the power went out.
The "MLP Watch List" is under the MLP Tab.
The "E&P Watch List" and "Drillers Watch List" are under the Watch List tab. The onshore drillers sure look cheap to me. Unless there is a major drop in oil prices and it stays below $80/bbl, none of the E&P companies are going to cut back on drilling budgets. Rig rates have firmed up and the demand for high horse power rigs with top drives is very strong. PTEN, PDS and UNT look very good to me.
The offshore drillers may be fine, but I don't have time to follow everything.
Watch Lists
Watch Lists
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Watch Lists
the offshore drillers, imo, are way over capacity.
Re: Watch Lists
Agree. I just don't have time to follow them closely.
From Morgan Stanley this morning:
"Positive risk-reward for oil names, more balanced for gas. Oil price
concerns have dominated investors' minds in recent weeks. After selling-off
25% since late June, E&P valuations are much more attractive, but the group is
not incredibly compelling yet, even after the pullback in commodity prices. We
are more optimistic on oil weighted E&Ps over the next 3-6 months, but see
some near-term downside potential."
From Morgan Stanley this morning:
"Positive risk-reward for oil names, more balanced for gas. Oil price
concerns have dominated investors' minds in recent weeks. After selling-off
25% since late June, E&P valuations are much more attractive, but the group is
not incredibly compelling yet, even after the pullback in commodity prices. We
are more optimistic on oil weighted E&Ps over the next 3-6 months, but see
some near-term downside potential."
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group