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We need to look at off shore rigs which is a much different...

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wizs

43 Posts.

19

18/01/19

10:09

Post #: 37152546
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Originally posted by BobbyKennedy: ↑

Below is the US oil rig chart up to Jan-19. You can see it rose for almost the entire CY18. Also worth noting that the WTI oil price climbed steadily in 2018 until a dramatic fall in the Dec qtr. All in all, I think the energy division will surprise to the upside for the last reporting period. Obviously there's more to it than US oil and gas but I think this may hold some of the surprises.

As for CY19, we'll need to keep an eye on the customer CAPEX estimates for this sector.
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We need to look at off shore rigs which is a much different measure than the total oil rig count

SDA Price at posting: $2.94 Sentiment: Buy Disclosure: Held
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0 Great analysis

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