• 3 minutes The World Economic Forum (WEF) - Davos 2022 Conference held this last week of May
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 5 hours "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
  • 3 days Advancing Fundamental Drilling Science - Geothermal drilling successes offer potential gain for petroleum industry
  • 5 hours "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
Qatar Minister Slams West For Demonizing Oil And Gas

Qatar Minister Slams West For Demonizing Oil And Gas

For years, Western countries have…

Why You Should Care About The Price Of Diesel

Why You Should Care About The Price Of Diesel

While the price of gasoline…

Biden Administration Seeks Restart Of Idled Oil Refineries

Biden Administration Seeks Restart Of Idled Oil Refineries

The federal government is seeking…

Editorial Dept

Editorial Dept

More Info

Premium Content

2 Stocks To Consider As Oil Nears $15

Last week, I wrote here that while I was not in the “WTI to $10” camp of doom and gloom for energy, I could see short-term dynamics pushing crude to the mid-to-upper-teens before some sort of recovery took hold. This morning, near dated WTI futures (the May 2020 CLK20 contract) dropped to a low of $17.31 before bouncing to just above $18. So far, so good, and with the June contract (CLM20) trading above $25, it seems that the market agrees that a significant recovery is coming before too long

I also said last week that if that was the case, investors should e considering what to buy when WTI got into the teens, so now is a good time to explore some options.

The topical pick, and one that makes sense in a lot of ways, is Schlumberger (SLB).

The oilfield services company has been hit hard as oil has declined, dropping from above $75 just a couple of years ago to under $15. That is understandable given that the response to that of most energy companies has been massive cuts to capex but when SLB released Q1 2020 results this morning, there were some positives among the bad news.

Bad news first....

On an adjusted basis, earnings were basically as expected at $0.25 per share, but that was after a massive pre-tax goodwill charge of $8.5 billion. Before that adjustment, SLB lost $5.32 a share. They also cut the dividend by 75% and made big cuts in staffing. So, given all that, what can possibly be good?

Well, the main…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News