|Day Low/High||30.51 / 31.14|
|52 Wk Low/High||29.67 / 46.92|
Sixteen rigs came online overall, with eight oil rigs added in U.S. resource basins and eight natural gas rigs added.
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 land-based oil and natural gas rig counts increased by five units apiece week-over-week as the offshore count fell by one.
Stifel initiated coverage on several oil and gas firms this morning.
There are several others who could also reap benefits.
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.
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.
More production will mean lower oil prices.
The investment bank has come in as the 10th ranked adviser on The Deal's 2016 League Tables.
U.S. oil producers added 4 rigs, while natural gas producers brought 3 rigs online, bring the overall count up to 665.
Gobbling up privately held acreage may continue to be a major priority for strategics in 2017, but so too will asset sales and equity raises as low leverage remains vital.
The major oil producer will bolster its already substantial holdings in the U.S.' most prolific oil play for $2.43 billion.