Investing
Bronco showed that average operating rigs increased to 28 from 15 in the previous quarter, helping its revenue days almost double to 2,530 from 1,284 in the previous quarter.
West Texas Oil
Growing up in Sweetwater, Texas, I was used to oil rigs everywhere and playing our hated rival, Snyder, on Friday nights. Oil is coming back in West Texas, and I assume Sweetwater and Snyder still are rivals. Snyder-based Patterson-UTI Energy (PTEN) engages in the development, exploration, acquisition and production of oil and natural gas in West Texas. Patterson-UTI provides pressure pumping services to oil and natural gas companies, primarily in the Appalachian Basin. Patterson-UTI owns 403 land-based drilling rigs. Patterson-UTI had an average of 300 drilling rigs operating per day in January (282 in the U.S. and 18 in Canada), for a total of 9,285 drilling days. Patterson-UTI has a forward multiple of 8.5 with a growth rate projected at over 50% for next year. Patterson-UTI has no debt. This is a bargain ... a huge bargain. Considering the political environment and the push away from foreign oil, these two stocks have everything going for them. I bought both of them this week for these very reasons.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
|
|
DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
|
|
-1.28%
|
-1.43%
|
-1.17%
|
-6.12%
|
Data delayed 20 minutes |
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