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3 Oil & Gas Drilling Companies With Optimistic Prospects
NBRNabors(NBR) ZACKS·2024-07-17 13:40

The Zacks Oil and Gas - Drilling industry is facing several headwinds. First, the U.S. rig count has been gradually declining and has fallen around 15% from a year ago, dampening drilling activity and affecting service companies' operations. Second, the industry is grappling with overcapacity and pricing pressures. Third, the recent Saudi announcement to maintain its Maximum Sustainable Capacity and cancel the planned expansion has negatively impacted investor sentiment, leading to a sell-off in oilfield se ...