|Day Low/High||86.67 / 88.75|
|52 Wk Low/High||55.48 / 96.01|
Sixteen rigs came online overall, with eight oil rigs added in U.S. resource basins and eight natural gas rigs added.
Six oil rigs came online, while two natural gas rigs were added and one miscellaneous rig came offline. Seven rigs were added in West Texas' lucrative Permian Basin alone.
Land-based oil rigs increased by nine week over week, while natural gas rigs rose by four. The offshore count, meanwhile, continues to falter with a decrease of three rigs.
Investors seem to be struggling with where to place their bets as U.S. producers kick back into gear, but analysts have mapped out a few to keep an eye on.
The U.S. land rig count has been pumped up for yet another straight week as producers added 11 oil rigs, while the gas rig count fell by three.
Here are Thursday's top research calls, including new buy ratings for Concho Resources, Devon Energy, Six Flags and Marathon Oil.
SM Energy CEO Javan Ottoson is not willing to bet the round of corporate-level M&A that dealmakers are hoping for is on the horizon in the prolific Permian Basin.
With the land grab all but over, vast oil-bearing plots are in the hands of strategics that continue to bolster production. Yet they need higher oil prices to regain profitability.
Cramer shares his views on the cyclical nature of selling crude, and also discusses how worrisome and catastrophic are not the same.
Did it occur to any of you sellers that there is a pattern?
Jim Cramer says Diamondback Energy has great assets in the Permian basin.
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Look for beaten-down stocks that are trading at discounts to the value of their assets. Finding absolute bottoms in stocks is not as important as you may think.
Look for beaten-down stocks that are trading at discounts to the value of their assets.
In the last two years, with U.S. production dropping close to a million barrels, there was an increasing profile of production from only one shale play -- the Permian.
Investors should keep an eye on interest rates and oil, but remember next week is still a week of big earnings reports, says Jim Cramer.
A close above $106 would give the bulls the upper hand once again.
More production will mean lower oil prices.
The buyer plans to pay for the deal with equity offerings and asset sales.