As discussed in my newsletter today, I believe the onshore drillers are going to have a good year and share prices should rebound during the 2nd half of this year.
1. I don't think the onshore rig count will drop that much as the rigs being lost to natural gas will move to liquid prone areas.
2. The Spring Break-Up will not be as bad this year.
3. High quality / high horsepower rigs remain in very strong demand.
HP and PTEN still look good to me. My advice is Accumulate on the Dips.
http://finance.yahoo.com/news/big-drop- ... 21497.html