Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (177725)	4/9/2013 6:10:38 AM
From: Dennis Roth	2 Recommendations Read Replies (2) \| Respond to of 206161

Oilfield Equipment (Citi) The Next Phase of Growth Should Propel Margins 7 April 2013 ¦ 13 pages Click Here Don't Give Up on Margin Expansion! — In spite of robust market conditions that are reflected in bookings, backlog, and top line growth, the profit margins of the oilfield equipment companies have not returned to the levels of 2007-08. In the absence of margin expansion the performance of the leading oilfield equipment stocks such as NOV, CAM, FTI, DRC, and LUFK has been inconsistent and generally disappointing. We believe that a new phase of top-line growth in 2013 and 2014 will be accompanied by meaningful margin expansion. Investors should not give up on these stocks.

To: Dennis Roth who wrote (177725)	4/21/2013 7:22:58 AM
From: Dennis Roth	1 Recommendation Read Replies (1) \| Respond to of 206161

Oilfield Services Things We've Learned This Week CS Comment sendspace.com Manifa Ahead of Schedule. Saudi Aramco said this week that it has started production at the Manifa oil field three months early. Production is set to reach 500 kbpd in July and grow to 900 kbpd by YE ’14. Recall, HAL’s Stim Star Arabian Gulf vessel began its stimulation work at Manifa in 3Q12. The Manifa oil field consists of 27 man-made islands that all have solid access to the oil below. FMC Technologies (FTI) announced on Monday that it has signed a 4-year frame agreement with Petrobras (PBR) to provide subsea services for offshore Brazil. The agreement will support new equipment installations and maintenance for the more than 350 FTI subsea trees and manifolds currently in operation with Petrobras. Frame agreements are a competitive advantage for FTI, but we do not expect this to have a significant impact. This is like Petrobras saying: “I always shop at ABC store for my groceries, but now I have a written agreement to shop at ABC store.” — there’s no difference. Fracking in the Marcellus. We spoke with Range Resources (RRC) this week about their service contracts in the Marcellus. We had previously heard that RRC had hired a Patterson-UTI (PTEN) frac fleet, which was contributing to PTEN’s strong pressure pumping results. PTEN has historically performed well in the Marcellus and RRC has a large presence, but it appears that RRC has not hired PTEN on a contracted basis in the basin. Frac Tech and Weatherford (WFT) are RRC’s primary completions servicers in the region. UDW demand is good - LLOG Exploration signs SDRL newbuild contract –LLOG, an independent, signs a newbuild drillship, West Neptune (10,000’ DP drillship, Jun’14 delivery), for 3-yrs at ~$605k/d in GOM (model $600k/d). We think this is only one of three deep water rigs LLOG needs. Demand is good and is coming from interesting places. Happy 1st Birthday. Tues marked FET’s first year as a publically traded company. Look for FET’s Valve Solutions and Production Equipment business lines to continue to grow in presence. Gas utility pipeline maintenance, petrochemical plant buildouts, and the implementation of the Pipeline Safety Act are driving demand for valves, storage and surface processing equipment. The WSJ highlighted the deterioration of U.S. pipeline infrastructure this week, in “Big Spills From Aging Oil Pipelines”. ROSE increased its 2013 capex guidance to $840-$900mm from $640- $700mm, according to company releases.