Nabors Industries Part 1: Pricing Gains And North American Recovery Offset Balance Sheet Woes
Following the US rig count and crude oil price recovery, NBR's US operations have shown considerable improvement in Q1. Expect...
Liberty Energy Part 2: Estimates And Relative Valuation
Revenue estimates are higher in the next year but can decelerate afterward. EBITDA can increase sharply in NTM 2023 but...
Liberty Energy Part 1: Quality Fracking And Pricing Rise Counter Supply Chain Pressure
Higher leading-edge pricing will induce fleet reactivation as operators expand capacity. LBRT will deploy PropX's PropConnect software, digiFrac pumps, and...
Schlumberger Part 2: Estimates And Relative Valuation
Schlumberger’s revenue estimate is upward trending in the next couple of years but may slow down after that. EBITDA is...
Schlumberger Part 1: Dividend Hike Reaffirms Its Short And Long Term Drivers
Schlumberger plans to improve revenues by “mid-single-digits" and the operating margin by 50 to 100 basis points in Q2 2022....
Baker Hughes Part 2: Estimates And Relative Valuation
Revenue estimates suggest a steady trend in the next three years. EBITDA will also improve but at a more moderate...
Baker Hughes Part 1: Various LNG And Renewable Energy Projects Will Drive Business
A multi-year growth cycle will benefit Baker Hughes’s North American market significantly and will also help participate in the Middle...
Halliburton Part 2: Estimates And Relative Valuation
The revenue estimate is firm for NTM 2023 but may slow down after that. EBITDA can stay muted in the...
Halliburton Part 1: It Has The Right Value Drivers, But Valuation Can Drag In
Halliburton sees higher capex and US onshore rig count growth from the private operators in 2022. It will prioritize short-cycle...
Calfrac Well Services Part 2: Estimates And Valuation
Revenue estimates suggest higher revenues in NTM 2022, but the topline can flatten or decrease afterward. EBITDA can increase significantly...
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