Drillers Updates

[dan_s]

Onshore Drillers: Updated company profiles for Helmerich & Payne (HP) and Patterson - UTI Energy (PTEN) have been posted under the Watch List Tab.

My view remains that the onshore drillers will remain depressed until Q3. Active rig count should start picking up in June.

HP and PTEN are trading at very low multiples of cash flow. HP is stronger of the two.

Any increase in the price of natural gas will draw a lot of attention to these very profitable companies.

Check out our Drillers Watch List for other ideas in this sub-sector.