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U.S. Oil and Gas Drilling Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies10
  • 7D-3.5%
  • 3M54.3%
  • 1Y157.0%
  • YTDn/a

Over the last 7 days, the Oil and Gas Drilling industry has dropped 3.5%, driven by Transocean declining 4.9%. In the past year, the industry has gained 157%. Looking forward, earnings are forecast to grow by 46% annually.

Industry Valuation and Performance

Has the U.S. Oil and Gas Drilling Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$35.5bUS$24.0b-US$1,869,706,000.006.9x-19x1.5x
Tue, 03 Mar 2026US$33.7bUS$24.1b-US$1,822,300,000.006.8x-18.5x1.4x
Thu, 29 Jan 2026US$26.2bUS$23.7b-US$2,231,281,000.0014.5x-11.7x1.1x
Sat, 27 Dec 2025US$21.6bUS$23.7b-US$2,231,281,000.0012.7x-9.7x0.9x
Mon, 24 Nov 2025US$21.2bUS$23.8b-US$2,309,035,000.0014.3x-9.2x0.9x
Wed, 22 Oct 2025US$19.5bUS$23.5b-US$2,026,761,000.0014.4x-9.6x0.8x
Fri, 19 Sep 2025US$19.7bUS$23.5b-US$2,026,761,000.0016.3x-9.7x0.8x
Sun, 17 Aug 2025US$17.2bUS$23.5b-US$2,024,944,000.0013.6x-8.5x0.7x
Tue, 15 Jul 2025US$18.3bUS$22.9b-US$423,533,000.0010.1x-43.1x0.8x
Thu, 12 Jun 2025US$17.7bUS$22.9b-US$423,533,000.0010.2x-41.8x0.8x
Sat, 10 May 2025US$15.2bUS$23.0b-US$303,875,000.007x-49.9x0.7x
Mon, 07 Apr 2025US$13.3bUS$22.4b-US$8,645,000.005.7x-1538.5x0.6x
Wed, 05 Mar 2025US$16.3bUS$22.8bUS$87.3m6.7x187.3x0.7x
Fri, 31 Jan 2025US$22.8bUS$23.0bUS$852.9m7.6x26.7x1x
Sun, 29 Dec 2024US$20.4bUS$22.2bUS$698.6m5.7x29.1x0.9x
Tue, 26 Nov 2024US$24.2bUS$22.2bUS$699.8m6.3x34.6x1.1x
Thu, 24 Oct 2024US$22.8bUS$20.8bUS$1.9b8.4x11.7x1.1x
Sat, 21 Sep 2024US$24.6bUS$20.8bUS$2.0b9.4x12.6x1.2x
Mon, 19 Aug 2024US$27.5bUS$21.8bUS$1.7b9.2x16.3x1.3x
Wed, 17 Jul 2024US$32.5bUS$21.0bUS$1.6b11.8x20.9x1.5x
Fri, 14 Jun 2024US$30.0bUS$21.0bUS$1.6b10.8x19.3x1.4x
Sun, 12 May 2024US$31.1bUS$20.9bUS$1.5b11.7x20.3x1.5x
Tue, 09 Apr 2024US$34.2bUS$20.0bUS$1.2b12.5x28x1.7x
Thu, 07 Mar 2024US$26.0bUS$18.5bUS$915.8m10.9x28.4x1.4x
Sat, 03 Feb 2024US$25.3bUS$17.5b-US$37,130,000.0015.3x-680.4x1.4x
Mon, 01 Jan 2024US$27.6bUS$17.5b-US$34,902,000.0015.8x-792x1.6x
Wed, 29 Nov 2023US$27.7bUS$17.5b-US$34,902,000.0017.2x-794.2x1.6x
Fri, 27 Oct 2023US$28.9bUS$16.7bUS$275.9m15.6x104.8x1.7x
Sun, 24 Sep 2023US$32.5bUS$16.7bUS$299.5m17.4x108.5x2x
Tue, 22 Aug 2023US$29.9bUS$16.7bUS$299.5m10.3x99.7x1.8x
Thu, 20 Jul 2023US$29.4bUS$15.7bUS$73.9m20.8x397.1x1.9x
Sat, 17 Jun 2023US$23.2bUS$15.7bUS$73.9m16.7x313.3x1.5x
Mon, 15 May 2023US$21.9bUS$15.7bUS$73.9m16.5x296.4x1.4x
Wed, 12 Apr 2023US$24.7bUS$14.3b-US$501,182,000.0026.9x-49.2x1.7x
Price to Earnings Ratio

-49.2x


Total Market Cap: US$24.7bTotal Earnings: -US$501,182,000.00Total Revenue: US$14.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Drilling Industry Price to Earnings3Y Average -64x202420252026
Current Industry PE
  • Investors are optimistic on the American Oil and Gas Drilling industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Drilling industry have deteriorated over the last three years.
  • Meanwhile revenues for these companies have grown 19% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has caused losses to expand.

Industry Comparison

How does U.S. Oil and Gas Drilling compare with similar industries?

US Market3.46%
Energy-5.02%
Energy Services-4.50%
Oil and Gas Drilling-3.45%
Oil and Gas Services-4.63%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SDRL SeadrillUS$45.630.5%
+US$13.7m		137.2%PS2.1x
NE NobleUS$49.860.1%
+US$8.0m		170.8%PE36.7x

Latest News

RIG
US$6.59
Transocean
7D
-4.9%
1Y
203.7%

RIG: Backlog Wins And Free Cash Flow Will Support Future Earnings

Analysts trimmed their price targets for Transocean to a range of $5 to $7.50, reflecting mixed views, as several firms cited valuation concerns while others pointed to recent free cash flow and new contract wins as support for higher estimates. Analyst Commentary Recent Street research on Transocean shows a clear split between cautious and constructive views, with valuation concerns driving several downgrades while some bullish analysts point to execution, cash generation, and contract activity as reasons to stay positive.
NE
US$49.86
Noble
7D
0.1%
1Y
170.8%

NE: Future Backlog And Contracts Will Mask Overvaluation Risk

Analysts have lifted their price target for Noble to $42.20 from $40.90. This reflects modest adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.
HP
US$34.81
Helmerich & Payne
7D
-3.7%
1Y
75.6%

HP: Leadership Changes And Capital Returns Will Support Future Upside

Analysts now see fair value for Helmerich & Payne at about $44.00 per share. This modest adjustment reflects slightly higher assumed profit margins, along with a small tweak to the discount rate and future P/E expectations.
VAL
US$98.04
Valaris
7D
-4.1%
1Y
231.6%

VAL: Pending Transocean Merger And New Fair Value Will Shape Future Returns

Analysts have raised their fair value estimate for Valaris from $87.00 to $96.00, reflecting updated assumptions related to revenue growth, profit margins and future P/E expectations. What's in the News Transocean Ltd.
NBR
US$79.99
Nabors Industries
7D
-10.7%
1Y
176.3%

NBR: International Reactivations And Deleveraging Will Shape Future Earnings Power

The analyst fair value estimate for Nabors Industries has been updated from $66.00 to $85.00, reflecting a series of higher Street price targets as analysts factor in revised models, modestly higher revenue growth and margin expectations, and a lower discount rate. Analyst Commentary Recent Street research has centered on higher price targets for Nabors Industries, with several firms revising their models after quarterly results and updates to sector activity.
BORR
US$5.83
Borr Drilling
7D
-3.6%
1Y
240.9%

BORR: Premium Rig Expansion And New Contracts Will Support Future Upside

Analysts now set a higher price target for Borr Drilling at about $5.84, up from $4.64, as they refresh their assumptions on discount rate, growth, margins and future price-to-earnings (P/E) expectations. What's in the News Borr Drilling reported an operational update after recent hostilities in the Arabian Gulf, with three jack up rigs in Qatar and the UAE down manned as a precaution and all personnel reported safe following an incident affecting the Arabia III on a customer platform on March 7, 2026 (Key Developments).
PTEN
US$10.61
Patterson-UTI Energy
7D
-6.6%
1Y
87.5%

PTEN: Sector EBITDA Resets And Geopolitical Dislocations Will Shape Future Activity

Analysts have increased Patterson-UTI Energy's fair value estimate from $10.66 to $11.00, citing a series of higher price targets across the Street and the view that recent geopolitical risks could create dislocations that offer opportunities relative to the company's underlying fundamentals and longer term customer activity plans. Analyst Commentary Recent research shows a cluster of bullish analysts lifting their price targets on Patterson-UTI Energy, with several moves coming within a short time frame.
SDRL
US$45.63
Seadrill
7D
0.5%
1Y
137.2%

SDRL: New Leadership And Contract Wins Will Support Balanced Outlook

Analysts have raised their fair value estimate for Seadrill from $32.00 to $41.00, citing updated assumptions that combine a slightly lower discount rate with revised expectations for revenue growth, profit margins, and future P/E levels. What's in the News The Board of Directors appointed Samir Ali as Chief Executive Officer on March 12, 2026, replacing Simon Johnson, after Ali served as Executive Vice President and Chief Commercial Officer since August 2022 (Key Developments).