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Nervous markets await NvidiaSHORT. The biggest problem is the quality and type of rigs it has. Very few long-term contracts to the rigs. Shallow rigs. Oil/gas drilling in Western Canada is largely deeper and more complex. They only have 2 of the triple type rigs, which are the most popular. Their fleet is just not purpose ready and the market is drying up. In a downward market, these are the first guys to get axed.
On his watch list. Has noticed that insiders are buying like crazy. It does have a big debt load, which is a major problem, and which continues to scare him. This is one that he has been kicking the tires more closely on. The insider buyers generally know more than an outsider. He will continue to watch.
Energy service sector is going through a boom and this one has been going through a rework. Had a lot of older rigs that were really great for dry gas and shallower gas drilling. Have also been moving down to Australia. Well-run company and the balance sheet is in pretty good shape. They’ve all had a pretty big move. Would prefer CanElson (CDI-T) which has a strong, strong balance sheet, good sustainable dividend and good management team. Very cyclical business, so keep a very, very tight eye on the long-term pricing environment.
Savanna Energy Services is a OTC stock, trading under the symbol SVY-T on the (). It is usually referred to as or SVY-T
In the last year, there was no coverage of Savanna Energy Services published on Stockchase.
Savanna Energy Services was recommended as a Top Pick by on . Read the latest stock experts ratings for Savanna Energy Services.
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0 stock analysts on Stockchase covered Savanna Energy Services In the last year. It is a trending stock that is worth watching.
On , Savanna Energy Services (SVY-T) stock closed at a price of $.
(A Top Pick Jan 2/15. Up 66.03%.) *SHORT* Not as much ability to participate in the deep drilling market.