Energy Companies Set to Report Soon: Helix Energy Solutions Group Inc. (HLX) and More

Ensco’s Jan. 16 fleet status report shows most deepwater rigs, including many in the Gulf of Mexico and Brazil (primarily with state oil company Petrobras) being utilized at attractive dayrates. Its midwater and jackup equipment is substantially contracted, though there were some idle jackup rigs with Pemex in Mexico because of shipyard inspection. Jackups are used for drilling in lower-depth offshore waters. Should energy prices remain stable, 2013 should be another good year.

Looking longer term, Ensco’s rigs currently under construction are apt to assist bottom-line gains. These consist of six rigs, three of those scheduled to begin service in South Korea deepwater activities between the third quarter of this year and the fourth quarter of 2014. All told, the shares are a good holding for the near or long term.

Summary

Take the time to read the earnings reports for each of these companies, including two oilfield services providers and one pipeline owner/distributor. Their earnings all sway on oil and natural gas prices to various extents. Much of the positive outlook is founded on favorable conditions for drilling in the Gulf of Mexico and other regions. As for ETP, rising natural gas prices would facilitate a profit upturn and the addition of Sunoco would need to be a boost to its results.

The article Energy Companies Set to Report Soon originally appeared on Fool.com and is written by Damon Churchwell.

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