Last December I published an article on Oilprice discussing why I thought land drilling contractors would start to rally after the first of the year. It turned out I was a bit early in my thesis and both of the companies I highlighted in the article, Patterson-UTI Energy, (NYSE:PTEN), and Helmerich & Payne, (NYSE:HP) have both fallen about 60% from where I thought they were attractively priced.
At this point, I will quote Dr. Niels Bohr who once famously said, “Predicting is very difficult, especially when it is about the future.”…Why Shale Drillers Should Be In A Strong Position In 2023
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