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Schlumberger, Halliburton post multiyear highs as U.S. crude touches $130/bbl

Mar. 07, 2022 5:51 PM ETSchlumberger Limited (SLB), HAL, BKRDRQ, OII, PTEN, XLE, OIH, VDE, RIG, CLB, HP, NOV, NBR, OIS, ENSV, SDPI, WHDBy: Carl Surran, SA News Editor16 Comments

well workover process using acid to inject into the reservoir and intensify oil and gas production

Igor Borisenko/iStock via Getty Images

Leading oilfield services companies Schlumberger (SLB +8.1%), Halliburton (HAL +6.2%) and Baker Hughes (BKR +4.7%) all closed at multiyear highs Monday, leading the energy sector as WTI crude oil closed

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Comments (16)

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cenc profile picture
The oil service sector was already set to skyrocket before Ukraine due to the supply constraints; this is just some more icing on the cake. Any producers that stay "disciplined" at over $100 oil, is going to get disciplined by the market. Look at the lack of reaction in oil producer stocks this last couple of weeks. Those things should have been on fire.


and in the producers because they are increasing production ESTE and EOG. I don't invest to be paid back my own money. I invest to make more money. Not interested in any company that is leaving oil in the ground right now, in what could be the last great oil rally of this century. Drill it!!! Drill it all!!! The first ones to drill, get to make the big money before the rest get their drill programs going and flood the market all at the same time. In fact, if they are drilling now, they probably get 6 months to a year jump on the high prices over the guys that are being "disciplined" .
Anybody know Why ENSV,SDPI,NEX are melting up? Incredible volume relative to sharecount.
@subzeroalpha Because O&G are no longer "uninvestable". They now have Momentum.
More workers, more rigs, more sand, more money = more oil.
Oil Can profile picture
$HAL is now half the price it was at its peak almost 8 years ago.
At $120 oil there's gonna be demand for SLB anywhere there is oil.
Still way in the hole with this stock
@mikefinleyco yeah me too I've waited three years for this I'm not letting this stock go cheap. The prices on the oil services stocks are nowhere near correlation to oil prices.
@Jon Brien My question is will these stocks get any better than this with oil at $130-$140 a barrel? I guess if oil goes to $200. But if we peak at these prices what else but downward pressure on these stocks after that? If recession hits, it's another 3-4 years just to recover to these stock prices again.
taskassistant profile picture
Im all set got my money for fuel, a/c and heat. Thank you XLE
The price of oil at end of Sept 2008 was $67.81 and at that time the price of SLB was $90.71.
So the co-relation in todays world to the price of oil is meaningless
as oil hit $130.00 and SLB high today was $43.40.
A vastly different world today from 22 years ago
PapaWhisky profile picture
@dancing duke the company is a whole lot smaller now than then
@PapaWhisky more efficient and much better run company. It's totally undervalued.
@dancing duke oil wasn’t coming off a multi year slump. It was relatively brief compared to what the oil market just went through. It will take a little time to catch up.
Been making a killing off these names, plus dividends, even today slb was up 10%. If they dip on a nuclear deal, will buy more
PapaWhisky profile picture
And some people say $5 gas is not good.
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