PDS & PTEN
PDS & PTEN
both these outfits broke out of their down trends today on bullish moves.
Re: PDS & PTEN
I have asked one of my best interns from Rice to take a hard look at several onshore drillers soon after their 2nd quarter results come out. As I have posted here many times, all of the onshore drillers are not the same. HP has a very high percentage of their rigs under long-term contracts. PDS is more than a driller.
PTEN's margins are going lower on pressure pumping but still very profitable.
If natural gas prices rebound (which I now expect), it will be very bullish for the onshore drillers. Keep a very close eye on the natural gas storage report if you are into the drillers.
We update our Drillers Watch List each weekend. You can compare earnings and cash flow forecasts for 15 companies.
PTEN's margins are going lower on pressure pumping but still very profitable.
If natural gas prices rebound (which I now expect), it will be very bullish for the onshore drillers. Keep a very close eye on the natural gas storage report if you are into the drillers.
We update our Drillers Watch List each weekend. You can compare earnings and cash flow forecasts for 15 companies.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: PDS & PTEN
i have followed the osx for almost 15 years and there is a technical metric that has so far never failed to signal the start of a run on the oil service group. this is the weekly macd (5,17,9). this is a quicker reacting macd than the more closely watched (12,26,9). when (5,17,9) crosses into positive territory it is a buy signal. this happened monday this week.
as with all the technicals, however there is still no guarantees.
as with all the technicals, however there is still no guarantees.