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Thursday, 20 July 2017

Hunting Oil Services Stocks With a DUC Call - Bloomberg Gadfly

Hunting Oil Services Stocks With a DUC Call - Bloomberg Gadfly:

"The problem is, of course, the oil price. E&P firms have cut costs and got a bit of a tailwind from the rally in oil prices earlier this year, leading to a sharp increase in the number of rigs in operation. But it's hard to maintain that sort of enthusiasm when oil futures don't rise above $50 a barrel until early 2020. So the number of oil rigs being added has slowed markedly:
Dog Days
Weekly additions to the U.S. oil-rig fleet this summer have slowed to about a third of the pace in the spring"



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