A major contract win and improving profitability may explain why one fund has made NESR its largest holding.Florida-based GeoSphere Capital Management reported in its Form 13F filed on November 14 that it increased its position in National Energy Services Reunited Corp. by 481,228 shares during the third quarter, resulting in a $9.2 million increase in position value.What HappenedAccording to a Securities and Exchange Commission (SEC) filing dated November 14, GeoSphere Capital Management increased its stak ...

Core Viewpoint - Trican Well Service Ltd. has approved a 2026 capital budget of $122 million, emphasizing its commitment to disciplined investment and long-term growth [1][3]. Capital Budget Overview - The approved capital budget focuses on maintenance capital to ensure reliability and efficiency across Trican's four divisions, while also allocating targeted growth capital for modernization initiatives [2][3]. - Approximately $40 million of the growth capital is designated for Canada's first 100% natural gas fueled, continuous, heavy-duty hydraulic fracturing fleet, expected to be field ready in the second half of 2026 [2]. Management Commentary - The President and CEO of Trican stated that the 2026 capital program reflects the company's commitment to disciplined investments that enhance service quality and position the company for long-term growth [3]. - The focus on maintenance and targeted growth initiatives aims to ensure reliable and efficient equipment, enabling Trican to capture future opportunities and deliver long-term value to customers and shareholders [3]. Company Background - Trican Well Service Ltd. is headquartered in Calgary, Alberta, and provides oil and natural gas well servicing equipment and solutions throughout the drilling, completion, and production cycles [4]. - The company offers state-of-the-art equipment, engineering support, reservoir expertise, and laboratory services, including hydraulic fracturing, cementing, coiled tubing, nitrogen services, and chemical sales for the oil and gas industry in Western Canada [4].

Core Viewpoint - Halliburton Company is experiencing a shift in analyst expectations, with a decrease in the consensus price target, yet it shows positive financial performance indicators in recent quarters [2][3][6] Financial Performance - In Q3 2025, Halliburton reported a net income of $18 million, or $0.02 per diluted share, with adjusted net income rising to $496 million, or $0.58 per diluted share, an improvement from Q2's $472 million, or $0.55 per diluted share [3][6] - Total revenue for Q3 reached $5.6 billion, indicating strong operational performance [4] Analyst Opinions - The consensus price target for Halliburton has decreased by $3.00 over the past year, from $24.5 to $21.5, reflecting a more conservative outlook from analysts [2][6] - Analyst Charles Minervino from Susquehanna has set a more optimistic price target of $48 for Halliburton, suggesting potential for growth despite the general caution among other analysts [4][6] Upcoming Events - Halliburton is scheduled to host a conference call on October 21, 2025, to discuss its third-quarter financial results, which may provide further insights into the company's performance and future prospects [5]

Core Insights - SLB has secured a significant drilling contract from Woodside Energy for the ultra-deepwater Trion development offshore Mexico, involving the drilling of 18 ultra-deepwater wells over three years with AI-enabled capabilities to enhance operational efficiency and well quality [1][2] Group 1: Contract Details - The contract includes an integrated services approach, covering digital directional drilling services, logging while drilling (LWD), surface logging, cementing, drilling and completion fluids, completions, and wireline services, with water depths reaching up to 2,500 meters [2] - SLB's expertise in ultra-deepwater drilling and advanced AI-driven technologies will ensure safe, efficient, and reliable development of the Trion wells, with a focus on local talent and supply chains in Mexico to meet project timelines [3] Group 2: Operational Efficiency - SLB's Performance Live digital service delivery centers will manage operations, optimizing drilling performance through real-time data analytics and AI-driven automation, aiming to minimize downtime and enhance precision in well construction [4] Group 3: Strategic Importance - The contract is a crucial step in advancing the Trion project's drilling phase, reinforcing SLB's strategic presence in Mexico's offshore energy sector, with first production expected in 2028 [6]