Patterson-UTI earns Strong Buy as ISI turns bullish on oil services • 8:52 AM
ISI Group turns bullish on the U.S. land rig and oil services sector after two years at neutral, as "E&P capex budgets finally appear poised for meaningful increases in 2014 driven by higher WTI prices, solid domestic production growth, and continued success in select basins." (Briefing.com)
The firm's top picks are Patterson-UTI Energy (PTEN), upgraded to Strong Buy, and Buy-rated Nabors Industries (NBR), Key Energy (KEG), and Helmerich & Payne (HP).
PTEN
Re: PTEN
After I get back from Dallas, I plan to take a hard look at PTEN and PDS.
I agree that the onshore drillers should be getting more demand for their rigs next year. I follow a lot of E&P companies and they all seem to be saying they are going to add more rigs next year.
Take a hard look at Unit Corp. (UNT). It has become more of an E&P company, but they also have a large drilling division.
HP has the highest quality rig fleet.
I agree that the onshore drillers should be getting more demand for their rigs next year. I follow a lot of E&P companies and they all seem to be saying they are going to add more rigs next year.
Take a hard look at Unit Corp. (UNT). It has become more of an E&P company, but they also have a large drilling division.
HP has the highest quality rig fleet.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group