US energy stocks spanning E&P, oilfield services and LNG. Brent crude and rig utilisation are the primary signals driving earnings across the sector.
US energy stocks on NYSE span the full oil and gas value chain. ConocoPhillips is the purest large-cap E&P play. Halliburton and SLB are oilfield services companies — their revenues depend on drilling activity rather than oil prices directly, but they follow Brent with a 6-12 month lag.
Brent at $/bbl is falling from the crisis peak of $126. US shale producers like ConocoPhillips and EOG have breakevens around $40-50/bbl — still very profitable at current levels but the margin is narrowing. The next strong buy signal triggers when Brent falls below $50.
Halliburton and SLB benefit when E&P companies increase capital spending — which typically happens when oil is above $70/bbl for an extended period. Rig utilisation at % is in neutral territory. A sustained move above 90% would signal strong services demand.
For informational purposes only. Not financial advice. See disclaimer.