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...
Calfrac Well Services Part 1: Cash Flow Concerns Versus Growing Activity
Calfrac's frac fleet count in the US stepped up in early 2022 but is unlikely to increase much from here....
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