Nabors Industries Part 2: Estimates And Relative Valuation
Our regression model continues to suggest that NBR's revenue will increase sharply in NTM 2023 but may decelerate later. Similarly,...
Nabors Industries Part 1: Rig Additions In Saudi Arabia To Counter Natural Gas’s Weaknesses
Nabors' US rig count can increase modestly in Q1 2023, while in Saudi Arabia, it plans two rigs in Q1...
NOV Part 2: Estimates And Relative Valuation
Our regression model suggests a steady revenue growth in NTM 2023, but the rate can plateau in NTM 2024 and...
NOV Part 1: The Short-Term Headwinds Fade Into Offshore Growth Opportunities
Development activities in several international offshore and shallow water mark NOV’s optimism. Rapid growth in high-spec onshore rig day rates...
Liberty Energy Part 2: Estimates And Relative Valuation
Our regression model suggests that Liberty's revenues will rise steadily in NTM 2023 but can change path in the following...
Liberty Energy Part 1: Boosts Share Repurchase But Is Wary Of Market Concerns
In FY2023, LBRT's management expects 40% to 50% growth in adjusted EBITDA due to the deployment of premier design, the...
RES Part 2: Estimates And Relative Valuation
The regression model suggests that the revenue growth trend has remained the same from our last estimates, i.e., an acceleration...
RES Part 1: RES Mulls Fleet Composition Change As It Hikes Dividend
RES's hydraulic fracturing fleet (net) count will likely remain unchanged in 2023. However, the fleet portfolio mix changes as it...
Halliburton Part 2: Estimates And Relative Valuation
Our revenue regression model suggests an increase in NTM 2023 and a deceleration in NTM 2024. EBITDA can decrease in...
Halliburton Part 1: Growth Opportunities Would Push Back The Short-Term Margin Concerns
Development activity and increased capex at the wellbore in onshore and offshore will pivot Halliburton’s international business in 2023. For...
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