Not sure if this is the board for watch list companies - but seems close enough - NBR blew away earnings estimates. Hopefully PTEN does as well tomorrow.
Bob
NBR
Re: NBR
I am expecting all of the drillers on our Watch List to report very strong 1st quarter results. See my note under the Picks.
The active rig count has held up despite low gas prices. Number of HZ wells increasing which bodes very well for HP Flex Rigs and PTEN's Apex Rigs. These big rigs demand premium dayrates.
Also, I have talked to several people in North Dakota and in Calgary. This year's Spring Breakup is going to be very short. The rig count in Canada should be ramping up by mid-May. Very good for PDS and all the onshore drillers.
Keep an eye on little UDRL. I went to visit the company in Fort Worth a couple weeks ago. Look for very good Q1 results.
The active rig count has held up despite low gas prices. Number of HZ wells increasing which bodes very well for HP Flex Rigs and PTEN's Apex Rigs. These big rigs demand premium dayrates.
Also, I have talked to several people in North Dakota and in Calgary. This year's Spring Breakup is going to be very short. The rig count in Canada should be ramping up by mid-May. Very good for PDS and all the onshore drillers.
Keep an eye on little UDRL. I went to visit the company in Fort Worth a couple weeks ago. Look for very good Q1 results.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group