FINWIRES · TerminalLIVE
FINWIRES

$AESI

7 stories mentioning AESIUpdated 2d ago

Every FINWIRES story that references AESI, newest first.

Commodities

US Land Drilling Activity Holds Firm Despite Minor Oil, Gas Rig Changes, RBC Says

US land drillers kept the active rig count unchanged at 572 over the week, with only minor shifts between oil and gas rigs, RBC Capital Markets said in a Sunday note.RBC said the Baker Hughes (BKR) US land rig count remained at 572. The US oil rig count fell by one to 436, while the gas rig count increased by one to 127, the note said.Oil rigs increased by eight over the month, while gas rigs added two. The Permian Basin lost one rig to 258, representing 59% of Lower 48 oil rigs and 45% of total US land rigs.RBC said Helmerich & Payne (HP) remained the largest Permian driller with 90 rigs, representing 33% of basin activity. Patterson-UTI Energy (PTEN) operated 33 rigs, accounting for 12%, while Nabors Industries (NBR) ran 29 rigs, or 11%.The note said Exxon Mobil (XOM) led Permian operators with 33 rigs, followed by Devon Energy (DVN) with 22 and Occidental Petroleum (OXY) with 20. Private operators accounted for 44% of active rigs, up from 43% a year earlier.RBC said Eagle Ford activity remained unchanged at 47 rigs. Among drilling contractors, Helmerich & Payne led with 17 rigs, representing 33% of the total, followed by Nabors Industries with 12 rigs, or 24%, and Patterson-UTI Energy with seven rigs, or 14%.The note said ConocoPhillips (COP) led operators in the Eagle Ford with seven rigs, followed by EOG Resources (EOG) with six and Crescent Energy (CRGY) with four. Private operators increased their share to 53% from 38% a year earlier.Haynesville added one rig over the week to 56. Among drilling contractors, Helmerich & Payne led with 11 rigs, representing 18% of the total, followed by Independence Contract Drilling with nine rigs, or 15%, and Nabors Industries with eight rigs, or 13%.Apex remained the largest operator in the Haynesville with 14 rigs, while Adamas operated seven and Expand Energy (EXE) ran five. Private operators accounted for 74% of active rigs, compared with 70% a year earlier.RBC said its oilfield services coverage group advanced 1.1% over the week, while West Texas Intermediate crude climbed 7.8% during the same period.The note said Element Technical Services posted the strongest weekly gain at 15.8%, followed by SLB (SLB) at 11.6% and NOV (NOV) at 6.4%.RBC said Halliburton (HAL) declined 5.3%, Atlas Energy Solutions (AESI) dropped 15.0%, and Liberty Energy (LBRT) fell 27.2%. Its oilfield services coverage group has gained 34.1% over the year, compared with an 8.9% increase in the S&P 500 Index.

$AESI$BKR$COP$CRGY$DVN$EOG$EXE$HAL$HP$LBRT$NBR$NOV$OXY$PTEN$SLB$XOM
Commodities

US Land Rig Count at 561; Oil, Gas Rigs Up, RBC Says

The US land rig count reached 561 for the week ended June 26, with oil rigs accounting for 428 and gas rigs totaling 125, RBC Capital Markets said on Saturday, citing Baker Hughes data.The US oil rig count increased by six from a week earlier and by 18 relative to the previous month, the report said, while the US gas rig count rose by three versus last week and by one from the prior month.The Permian Basin, which accounts for 60% of oil rigs in the Lower 48 and 46% of total US land rigs, saw a rig count increase of two week over week to 258, according to the report.Helmerich & Payne (HP), Patterson-UTI Energy (PTEN), and Nabors Industries (NBR) were the most active drillers in the region during the week, RBC said, while Exxon Mobil (XOM), Devon Energy (DVN), and Occidental Petroleum (OXY) were the most active operators.During the same period, Eagle Ford rig count was flat at 44, while Anadarko rig count decreased by one to 19. The number of rigs in Haynesville also remained unchanged at 55.Stocks of oilfield services under RBC coverage retreated 2.4% week over week, with CES Energy Solutions, Atlas Energy Solutions (AESI), and Calfrac Well Services as the top performers.On the other hand, the bottom performers were Trican Well Service, Precision Drilling (PDS), and Ensign Energy Services, according to the investment bank.RBC noted that prices for West Texas Intermediate and Brent both eased 8% week over week to $69 per barrel and $72/bbl, respectively.Henry Hub natural gas prices also saw a 0.1% moderation to $3.57 per thousand cubic feet, down 9.7% from a year earlier.

$AESI$DVN$HP$NBR$OXY$PDS$PTEN$XOM
Commodities

US, Canada Activity Growth Lifts Oilfield Services Outlook, RBC Says

Growing North American activity, improving pricing trends, and expanding power-generation opportunities supported a broadly positive outlook for oilfield services companies at RBC Capital Markets' energy conference, the firm said Sunday.Land drillers indicated that US activity could strengthen through 2026, with Patterson-UTI Energy (PTEN), Precision Drilling (PDS), and Ensign Energy Services currently operating a combined 171 rigs, including 94, 37, and 40, respectively.Representing about 32% of the US land rig fleet of 541, those companies outlined plans to add 10 to 16 rigs next year, implying an industry-wide increase of roughly 32 to 51 rigs and lifting the total count to 573 to 592 rigs by the end of 2026.Several conference participants also noted that approximately 30 idled rigs could return to service for low-single-digit millions of dollars, RBC said.Pricing trends appeared more favorable in pressure pumping than drilling, with Halliburton (HAL), Liberty Energy (LBRT), Patterson-UTI, and Trican Well Service pursuing price increases as momentum builds in the second quarter of 2026 and larger gains emerge in the second half of the year.On the drilling side, Patterson-UTI said rig pricing improved from the low $30,000-per-day range to the low- to mid-$30,000-per-day range, while Nabors Industries (NBR) expects rates to reach the mid-$30,000-per-day range as super-spec rig utilization exceeds 70%.In Canada, the rig count remained at 182, with Precision Drilling reporting record second-quarter 2026 activity levels and Ensign Energy Services expecting operations to rise from 30 rigs after spring break-up to more than 50 rigs during the third quarter of 2026.While disruptions persisted in Kuwait, Iraq, and Qatar, activity in Saudi Arabia, Oman, and the UAE continued at a more normalized pace, and Enerflex (EFXT) pursued expansion opportunities in Saudi Arabia and the UAE, RBC said.International growth opportunities continued to expand, with Halliburton securing a multi-billion-dollar pressure pumping contract from YPF in Argentina, while Venezuela remained a longer-term opportunity highlighted by Halliburton, Weatherford International (WFRD), Ensign Energy Services, and Baker Hughes (BKR).Power generation emerged as another major theme, with Liberty Energy, Atlas Energy Solutions (AESI), and Enerflex evaluating more than 21 gigawatts of opportunities, as data center demand and grid constraints support behind-the-meter projects.Although investors generally support the bullish case for energy services because of stronger commodity prices, Middle East supply disruptions, and favorable producer outlooks, many remain cautious while awaiting further developments in the Iran conflict, RBC said.

$AESI$BKR$EFXT$HAL$LBRT$NBR$PDS$PTEN$WFRD
Commodities

Atlas Energy Sees Strong Sand Demand, Advances Power Strategy, RBC Says

Atlas Energy Solutions (AESI) has made meaningful progress in its power generation strategy and sees improving conditions across its proppant and logistics businesses, RBC Capital Markets said in a Tuesday note.The company is targeting about 2 gigawatt of power generation deployments by 2030, supported by a 1.4-GW Caterpillar framework agreement, 240 megawatt of prior equipment orders and existing Moser capacity.Atlas expects to deploy more than 550 MW of power assets in H1 of 2027, followed by about 500 MW in each of 2028 and 2029, while its power opportunity pipeline has expanded to about 4 GW, including data center projects.The company recently signed a 120 MW power purchase agreement with a five-year term and two five-year extension options, which could generate about $50 million to $55 million of annualized adjusted free cash flow when fully deployed.RBC noted that securing long-term power contracts would support a more stable and predictable cash flow profile.Atlas said sand volumes, also known as proppant, are effectively sold out for Q2 of 2026 and expects strong demand through the rest of the year, although average realized prices are expected to remain below $18 per metric ton as the market remains well supplied.Management expects operating costs to decline to about $12.75/mt and improve further through 2026 as new Twinkle dredges enter service at the Kermit mine, increasing production efficiency and fixed-cost absorption.Logistics margins should improve sequentially, supported by higher Dune Express utilization and stronger trucking rates, with the firm forecasting logistics margins of about 13% in 2026.RBC maintained a $20 price target based on a sum-of-the-parts valuation, implying roughly 9.5x 2027 EBITDA of $355 million.RBC maintained its Sector Perform rating on Atlas Energy Solutions.Price: $18.34, Change: $+0.30, Percent Change: +1.66%

$AESI
Research

Raymond James Upgrades Atlas Energy Solutions to Outperform From Market Perform, PT is $25

Atlas Energy Solutions (AESI) has an average rating of hold and mean price target of $19.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$AESI
Wire

RBC Lifts Price Target on Atlas Energy Solutions to $20 From $14, Keeps Sector Perform Rating

Atlas Energy Solutions (AESI) has an average rating of hold and mean price target of $13.05, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $18.17, Change: $-1.05, Percent Change: -5.46%

$AESI
Oil & Energy

Middle East Rig Count Dropped in March, RBC Says

Middle East onshore rig counts fell by 43 rigs, or 5% over the month in March, while offshore counts declined by 10 rigs, or 4%, RBC Capital Markets strategists said in a Tuesday note.These disruptions, along with higher logistics and staffing costs, are expected to pressure first-half results for companies with regional exposure, RBC said.In the US, Q1 rig counts totaled 530, down 7% over the year but above RBC's estimate of 518, prompting an upward revision to its 2026 forecast to 544 from 526.RBC expects activity to remain supported by higher oil prices, easing concerns about a potential drop in West Texas Intermediate crude to $50 per barrel coming into 2026.In Canada, rig counts reached 216, down 4% over the year but slightly above RBC's estimate of 214, with spending expected to remain broadly flat, RBC said.Meanwhile, oilfield services stocks have surged about 36% in 2026, with valuations shifting higher as the sector heads into the Q1 earnings season, strategists said.RBC said Q1 reporting begins Apr. 21 with Halliburton (HAL), Saipem, and Weatherford (WFRD), as investors assess geopolitical risks and future production recovery trends, the report said.RBC said US-focused companies have outperformed peers with Middle East exposure this year, reflecting stronger domestic activity trends and fewer geopolitical disruptions.The firm's top picks include Schlumberger (SLB), Baker Hughes (BKR), TechnipFMC (FTI), Enerflex (EFXT), Patterson-UTI Energy (PTEN), Hunting and CES Energy Solutions, according to the note.Meanwhile, RBC lowered its Q1 EBITDA estimates by 2.4%, with the largest revisions for Schlumberger (SLB) and Trican Well Service (TCW), while raising forecasts for Saipem, TechnipFMC and Enerflex.The revised estimates generally fall below consensus, particularly for Trican Well Service, Atlas Energy Solutions (AESI) and Calfrac Well Services (CFW), while exceeding expectations for Halliburton, Enerflex and Ensign Energy Services, RBC said.RBC downgraded Trican Well Service to sector perform from outperform with a $7.50 price target and cut NOV (NOV) to sector perform from outperform with a $21 price target.

$AESI$BKR$EFXT$FTI$HAL$NOV$PTEN$SLB$WFRD

Track with the FINWIRES app suite

FolioX
FolioX
Track AESI in your portfolio
WheelAI
WheelAI
Analyze AESI options with the wheel strategy
StockInsider
StockInsider
See market sentiment on AESI