Liberty Energy Part 2: Estimates And Relative Valuation
Our regression model suggests that Liberty's revenues will rise rapidly in NTM 2023 but can decelerate in NTM 2024. EBITDA...
Liberty Energy Part 1: Frac Fleet Addition, Dividend Reinstatement, Repurchase – Notwithstanding The Economic Uncertainty
After adding six more frac fleets, Liberty's frac fleet will remain unchanged in the near term. A tight balance between...
Baker Hughes Part 2: Estimates And Relative Valuation
Our regression model suggests a steadily increasing revenue trend in the next three years. EBITDA can decline in the NTM...
Baker Hughes Part 1: International Projects Hold Sway Over Economic Uncertainty
The upstream and oilfield services markets are reasonably strong, but the economy is "increasingly uncertain," observes Baker Hughes. The natural...
Precision Drilling Part 2: Estimates And Relative Valuations
Our regression estimates suggest a 5% revenue growth in NTM 2023, but the rate can accelerate (26%) in NTM 2024....
Precision Drilling Part 1: Strong Margin Drivers But High Prices Can Dampen Demand
Precision Drilling's active drilling rig count can increase modestly in Canada in 2H 2022. Spot market repricing, the positive impact...
NINE Energy Service Part 2: Estimates And Relative Valuation
Our regression estimates suggest 34% revenue growth in NTM 2023, but the rate can decelerate over the next couple of...
Nine Energy Service Part 1: A Combination of Growth, Challenges, And Risks Make Investment Murky
Nine Energy Service's top line is likely to increase moderately while its EBITDA margin can expand impressively in Q3. Net...
Solaris Oilfield Part 2: Estimates And Relative Valuation
Our regression estimate suggests strong revenue growth in NTM 2023 and NTM 2024. According to the model, the EBITDA growth...
Part 1: Solaris Oilfield: New Technology Will Add To The Margin
Solaris Oilfield's number of fully utilized systems growth can moderate in 2H 2022. Its top fill system can grow from...
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