Posts for Ticker ‘BHI’

Rig Count Growth Mostly Positive (BHI, OIH, DIG, USO, OIL)

Baker Hughes, Inc. (NYSE: BHI) has released its data on the weekly rig counts and most are up. We are watching the key ETF products react via the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.  It will be interesting to see if this continues after the recent pause in oil.

Posted on: November 20, 2009 – 1:11 pm in Commodities, ETF, Oil & Gas, , , , ,

Rig Counts Inching Back Up (BHI, OIH, DIG, USO, OIL)

oil-well-image11This week’s data from Baker Hughes, Inc. (NYSE: BHI) on the weekly rig counts looks better and less mixed than in other weeks despite the notion that all projects should be financially sound at current levels.  On the news, we are watching the key ETF products of the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.  The overall figure is up, but barely.  Commodities players are mostly lower today, but more on the consumer data than on anything about rig counts.
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Posted on: October 30, 2009 – 2:06 pm in Commodities, ETF, Oil & Gas, , , , ,

Mixed Bag on Oil Rig Counts (BHI, OIH, DIG, USO, OIL)

oil-well-image11Baker Hughes, Inc. (NYSE: BHI) has released its weekly rig counts, and the results are not as strong as you would expect considering $80 oil is here.  We have watched the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.  The overall figure is up, but barely.

Posted on: October 23, 2009 – 1:15 pm in Commodities, Oil & Gas, , , , ,

Higher Oil, Higher Rigs (BHI, OIH, DIG, USO, OIL)

Oil Well ImageMaybe higher oil prices keep begetting higher rig counts.  Baker Hughes, Inc. (NYSE: BHI) has released its weekly rig counts and there are gains in all three measures.  We have been watching the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.  The gains are small outside of the U.S. rig counts, but small gains are better than contractions.
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Posted on: October 9, 2009 – 1:24 pm in Commodities, ETF, Oil & Gas, , , , ,

Oil Rig Counts Staying Stronger (BHI, OIH, USO, OIL)

offshore-rig-pic5Baker Hughes, Inc. (NYSE: BHI) issued its weekly rig counts and the counts are still going in the right direction overall if you like to see increased drilling activity.  This is also showing up in the Oil Services HOLDRs (NYSE: OIH), United States Oil (NYSE: USO), and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL).
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Posted on: September 4, 2009 – 1:54 pm in ETF, Oil & Gas, , , ,

Top Day Trader Alerts (AIG, BJS, BHI, GENZ, FNM, FRE, HGSI, MVL, DIS)

These are Monday’s top day trader and active trader alert stocks.  We have links through to each with more detailed price/volume analysis over at VSinvestor.com:

American International Group (NYSE: AIG) is giving back some of last week’s gains after Barron’s gave a harsh reminder here.

BJ Services Company (NYSE: BJS) is surging on a deal where Baker Hughes Inc. (NYSE: BHI) is acquiring the company….

Genzyme Corporation (NASDAQ: GENZ) is down over 3% on a downgrade and ahead of an FDA review date tomorrow.

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are both getting their wings clipped after FBR reminds of no underlying value remaining….

Human Genome Sciences, Inc. (NASDAQ: HGSI) is getting clipped as buyout hopes fade.

Marvel Entertainment, Inc. (NYSE: MVL) is surging after being acquired in a serious surprise merger by Walt Disney Co. (NYSE: DIS).

If you wish to be notified by email when the top day trader alerts hit, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more, you can join our open email distribution list which goes out several times per week.

JON C. OGG

Posted on: August 31, 2009 – 9:09 am in Pre-Market Activity, Trading Alert, , , , , , , , ,

More Rigs Chasing Higher Oil (BHI, OIH, USO, OIL)

Rig Counts Chasing Oil Prices (OIH, USO, OIL)

Offshore Rig PicThe weekly rig count data from Baker Hughes Inc. (NYSE: BHI) is out, and this last week we are seeing a bump in rig counts across the board.  These might be way down from peak drilling levels in 2008 when oil was well over $100, but this is at least a move in the right direction for the drillers. We are also watching the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.
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Posted on: August 28, 2009 – 1:42 pm in ETF, Oil & Gas, , , ,

Higher Oil Brings Mixed Data on Rig Counts (BHI, OIH, USO, OIL)

offshore-rig-pic5Baker Hughes Incorporated (NYSE:BHI) has released its weekly data on rig counts, and it seems that the suddenly higher oil prices are reversing some declines.  There has still been no set direction between gains and losses, but these counts are at least no longer in free-fall.  We are also watching the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.
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Posted on: August 21, 2009 – 1:13 pm in Oil & Gas, , , ,

Mixed Rig Counts Despite Higher Oil

Baker Hughes Inc. (NYSE: BHI) has released its weekly rig counts for the U.S., Canada, and international. While oil continues to stay high, the rig count picture is a mixed.

The U.S. Rig Count was up 2 from last week at 968; down 1022 year-over-year.

The Canadian Rig Count fell 25 from last week at 170; down 256 year-over-year. That is a disappointment.

The US Offshore rig count is 31, up 1 from last week; down 33 year-over-year.

Unfortunately, higher oil prices may only be so much help.

Jon C. Ogg
August 14, 2009

Posted on: August 14, 2009 – 1:23 pm in Oil & Gas,

Rig Counts Not Just Bottoming… They Grew (BHI, OIH)

offshore-rig-pic5Baker Hughes Incorporated (NYSE:BHI) shows weekly data on its rig counts it sees, but this morning it has announced its rig counts for the full month of July. Higher energy prices are bringing more rigs back on.  We are even seeing a gain in the Oil Services HOLDRs (NYSE: OIH) on the news.
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Posted on: August 7, 2009 – 8:56 am in Oil & Gas, ,

Rig Counts Climb With Higher Oil (BHI, USO, OIL)

Oil Well ImageBaker Hughes Incorporated (NYSE: BHI) has released its newest data on rig counts for the last week, and it seems that oil and gas producers might finally be increasing their rigs with higher prices again.  While there may be some seasonality, this is still an increase in all categories from the prior week.  So far, we are still seeing solid trading in the The United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL).
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Posted on: July 24, 2009 – 12:23 pm in Oil & Gas, , ,

Lower Oil Begets Lower Rig Counts… Again (BHI, USO, OIL)

Oil Well ImageIt looked for a moment as though the oil and gas rig counts were finally stabilizing.  Prices had recovered sharply from lows and were challenging $70.00.  But as you can tell, this is all in the past tense.  Baker Hughes Incorporated (NYSE: BHI) has released its newest data on rig counts.   The United States Oil (NYSE: USO) ETF is down 1.3% at $32.33 and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) is down 1.3% at $21.15 as oil itself is down by $075 to $59.66 per barrel for NYMEX WTI Crude.
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Posted on: July 10, 2009 – 12:37 pm in Oil & Gas, , ,

Mixed Data on Oil Rig Counts (BHI)

Oil Well ImageBaker Hughes Incorporated (NYSE:BHI) has released its June data for rig counts.  The bad news is that there are still some drops being recorded in rig counts from May, and these counts still look atrocious if you take a year over year comparison from when oil prices were through the roof.  We would note, however, that this is slightly misleading if you just look at the raw data.  We have seen a firming of these rig counts over the last two weeks, even if this firming is still very far from robust growth.
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Posted on: July 8, 2009 – 7:17 am in Oil & Gas,

First Major Rig Count Growth In Months (BHI, USO, OIL)

offshore-rig-pic5Baker Hughes Incorporated (NYSE: BHI) has released its first rig count in weeks that shows an increase.  This follows months and months of declining rig counts as many were down more than half from last year.  It seems that $70.00 oil is letting the drillers chase prices with ample profitability.

As oil prices slid today, the United States Oil (NYSE: USO) ETF is down 1.5% at $38.24 and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) is down 1.6% at $25.26.

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Posted on: June 19, 2009 – 12:43 pm in Oil & Gas, , ,

Rig Counts and Oil Price Chasing (BHI, USO, OIL)

Oil Well ImageBaker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for May 2009 and it looks like the endless slide we saw all of 2009 is being confirmed as either over or at least severely moderating on the international front.  The count is the U.S. and Canada is still lower, but the most recent weekly data seen in the last two weeks seems better than the overall monthly trends.  The United States Oil (NYSE: USO) ETF is up 0.5% at $37.87 and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) is up 0.6% at $25.03 in early trading.  Where these ETF’s trade will more likely come from changes in the Dollar and oil prices rather than based on the May rig counts.
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Posted on: June 5, 2009 – 8:01 am in Commodities, ETF, Oil & Gas, , ,

Rig Counts Finally Chasing $60 and $65 Oil (BHI, USO, OIH, SLB)

offshore-rig-pic5It seems that the steady rise in oil prices is finally starting to support some stability in rig counts.  We just got some fresh weekly rig count data from Baker Hughes Inc. (NYSE: BHI) supporting some stability.  Prior weekly data was mixed on whether rig counts were really stabilizing, but the current data speaks for itself.  This may finally start to be reflected in the United States Oil (NYSE: USO) ETF, the Oil Services HOLDRs (OIH) and even in Schlumberger Limited (NYSE: SLB).
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Posted on: May 29, 2009 – 12:34 pm in ETF, Oil & Gas, , , ,

Baker Hughes Files New $2 Billion Shelf Registration (BHI)

Money Stack ImageBaker Hughes Inc. (NYSE: BHI) has just filed a new shelf registration statement with the SEC  to sell up to $2 billion in mixed securities.  As with most shelf registrations, no underwriters were named and no terms were set.
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Posted on: May 8, 2009 – 11:18 am in Oil & Gas, Secondary Offering,

Williams, Other Services Companies in Venezuela’s Sights (WMB, HAL, SLB, BJS, BHI)

The Venezuelan government passed a law permitting the nationalization of oil field services companies, compensating companies for expropriating assets by issuing bonds instead of paying with cash. The law could even lead to the annulment of existing contracts.  Williams Companies (NYSE:WMB) appears to be the first target, and Halliburton Company (NYSE:HAL), Schlumberger Ltd. (NYSE:SLB), BJ Services Company (NYSE:BJS), and Baker Hughes Inc. (NYSE:BHI) could all be on the list.

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Posted on: May 8, 2009 – 9:55 am in Emerging Markets, Oil & Gas, Politics, , , , ,

Domestic & Global Rigs Counts Still Contracting, But Slower (BHI)

offshore-rig-pic1Baker Hughes Incorporated (NYSE: BHI) has announced its monthly rig counts for the month of April on the domestic and on a global basis.  The good news is that the rate at which the rigs are shrinking is contracting.  The bad news is that the rig counts are still contracting, despite the rise in oil prices.  As noted before, there is some seasonality to these, but there has yet to be the turn for that.
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Posted on: May 7, 2009 – 5:43 am in Oil & Gas,

Lower Rig Counts Still Stabilizing (BHI, USO)

oil-well-image2Baker Hughes Inc. (NYSE: BHI) has released the weekly rig counts.  The bad news is that these rig counts are still declining.  The good news is that this really appears to be stabilizing at least some on the rate of change.  Here is this week’s count:
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Posted on: May 1, 2009 – 12:14 pm in ETF, Oil & Gas, ,