Drilling Rig Leader Poised for Breakout. Is U.S. Rig Count Rebounding?

Source: investors.com investors.com

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With U.S. oil prices hovering around $90 per barrel and a key rig count due Friday, top oil and natural gas drilling rig maker Helmerich & Payne (HP) is set up just below a buy point. X Last week broke a string of nine straight declines in the number of drilling rigs working in North America, according to Baker Hughes (BKR) weekly data. The U.S. drilling rig count gained nine units to 641 during the week. That is still down 122 vs. year-ago levels, and last week's increase may have been a fluke. The industry will be watching Baker Hughes'...