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The Company is engaged in the business of onshore contract drilling and related services.
A Natural Gas Play as well as exposure to oil.
Earnings Estimates Revised Upward
2009 estimated EPS: -.492010 estimated EPS: -.57This stock can not continue to rise, with earnings getting worse and worse.
just increased capital
As energy and commodities prices improve, so will the drillers.
will rebound with a market recovery which should pump gas prices which should lead to more contracts
Will be takeover target.
My purpose and purpose only is to pick the opposite of whatever Jim Cramer picks to prove a point......
PICKENS PLAN, CNG CARS.As a small time NG producer it is very difficult to schedule a driller in less than 18 months in WV.
Drilling is a big business right now.
Oil and Natural gas are heavily in favor right now. Companies that provide services to oil and gas explorers have been doing exceptionally well over the last 6 months. I think this trend will continue, as the high price of oil and gas propel exploration. This company has a heavy focus on shale, which will be some of the biggest growing fields in the U.S. Listening to the KOG analyst conference call, one thing that stuck out was the fact that all available drilling rigs in the U.S. were in use. Union has all of their 71 rigs running all the time.
Held back by changing client demands and bad weather in previous years, I think their direction shift will pay off without having to incurr any additional debt or reinvest heavily. Another couple of quarters and they'll move out of their range.
If you want to find more oil, you have to drill. Chaching!
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