Pritchard Capital Provides Color on Oil Services

Pritchard Capital provided color on the oil services sector. In a research report published today, the rating agency named its top picks. In the report, Pritchard Capital states, “The Oil Service Index (OSX-$270.21) retreated .91% last week to outperform the S&P 500 ($1,316.14) by 115 basis points. Top performers were Xtreme Coil Drilling (XDC-C$4.75) +10% and Nabors Industries Ltd. (NBR-$26.32) +7%. Also notable were the gains of Basic Energy Services (BAS-$37.59), Tesco Corp. (TESO-$21.56), Union Drilling, Inc. (UDRL-$11.78), and Complete Production Services, Inc (CPX-$37.50) all above 4%. Laggards included Hercules Offshore, Inc. (HERO-$5.01) and Vantage Drilling Co. (VTG-$1.67) which both slipped more than 8%.” On Friday, Xtreme Coil Drilling XDC closed the day at C$4.75, while Nabors Industries NBR closed the week at $26.32. Its shares lost some value in today's pre-market trading, falling 0.57% to $26.17. At the same time, Tesco TESO and Union Drilling UDRL finished last week at $21.56 and 11.78, respectively. Basin Energy Services BAS ended last week at $37.59, while Complete Production Services finished the day on Friday at $37.50. Finally, Hercules Offshore HERO and Vantage Drilling VTG closed the day on Friday at $5.01 and $1.67, respectively.