• Twitter
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
  • Roger S. Conrad

Oilfield Services, Oil and Value

By Elliott H. Gue on Nov. 1, 2019

Just under half the energy stocks in the S&P 500 have reported Q3 2019 results so far including Schlumberger and Halliburton, the world’s two diversified services majors.

What’s emerged is a clear divergence in performance – growth in international markets and continued pressure on profit margins and growth in North American shale. The international spending upturn is now well underway, which is particularly encouraging when you consider the historic drop in international oilfield spending between 2014 and 2018.

And despite the shale services bust in Q3, we’re seeing some reasons for optimism in North America including industry capacity rationalizations and a change in the way producers contract for services.

In this issue, we’ll take a deeper dive into the services business and some of the comments from both Schlumberger and Halliburton on their Q3 2019 conference calls. We’ll also examine one of the most powerful but overlooked potential upside catalysts for energy stocks in the year ahead.

Energy & Income Advisor

Your complete guide to energy investing, from growth stocks to high-yielders.

In October 2012, renowned energy expert Elliott Gue launched the Energy & Income Advisor, a twice-monthly investment advisory that's dedicated to unearthing the most profitable opportunities in the sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.

Subscribe today to receive a sample issue of EIA
  • Live Chat with

    Elliott and Roger on Nov. 26, 2019

  • Portfolios & Ratings

    • Model Portfolios

      Balanced portfolios of energy stocks for aggressive and conservative investors.

    • Producers and Drillers

      Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.

    • MLPs and Midstream

      Our assessment of every energy-related master limited partnership.

    • International Coverage

      Roger Conrad’s coverage of more than 70 dividend-paying energy names.

    Experts

    • Elliott H. Gue

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Roger S. Conrad

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor