Oil Rigs hit bottom last yr...after 1 yrs plus the no of rigs jump more than 100% due to higher crude oil price.
Peaks and lows for US crude oil rigs US oil rigs hit a peak of 1,609 in October 2014. Technological advancements, cheaper credit availability, and higher crude oil prices from 2011 to 2014 led to the rise in drilling activity.
In contrast, rigs hit 316 in May 2016, the lowest level since the 1940s. Rigs had fallen due to lower crude oil prices in 2015. However, rigs are up by 420 rigs or 133% since May 2016 due to higher crude oil prices in 2016
UMWOG because involve in corporate exer to clean-up the shit that is the main reason price was lagging..Now it is time to make-up....1st target 50c...
Demand for higher oil rigs will push up UMWOG...even as is this the 7 Naga RIGS already 100% in use. When crude oil price trend higher the rate for using the rigs will even be higher...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Andrew62
308 posts
Posted by Andrew62 > 2017-10-25 11:29 | Report Abuse
Goodnews CROSS TRADE