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What’s Really Wrong with Thames Water?

What’s Really Wrong with Thames Water?

Following the Thames Water debacle,…

David Messler

David Messler

Mr. Messler is an oilfield veteran, recently retired from a major service company. During his thirty-eight year career he worked on six-continents in field and…

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Is This The Most Underrated Upstream Player In The Industry?

offshore

Beginning in 2016 oil prices bottomed, and began a stop-start recovery that has restored WTI and Brent (two globally recognized bench marks for oil) to about 65-70 percent of their 2014 levels. Major oil companies have recovered 75-90 of their 2014 prices, driven largely by surging profits from cost cutting. Oilfield service companies have not participated in the stock price recovery to the same extent as oil companies.

Segment leaders like Schlumberger, and Halliburton languish at levels that reflect about one third of their 2014 prices. Hit even harder are companies that would be early beneficiaries of a pronounced recovery. I am thinking of the offshore drillers primarily here. Transocean and Ensco, despite mergers and rig retirements, struggle currently at levels about 20 percent of their 2014 prices.

Core sees signs of an early stage recovery

Core Laboratories, (CLB) participates in two upstream oilfield businesses primarily. Reservoir Description and Production Enhancement. They reported their first quarter a couple of weeks ago, and we can safely say the market was majorly under-impressed. CLB dropped like a stone during the call on Apr 25th. The intervening days haven’t been any kinder. Hard to think just a year ago this upstream energy player…





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