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U.S. Oil and Gas Drilling Industry Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies10
  • 7D-8.1%
  • 3M-20.8%
  • 1Y75.1%
  • YTDn/a

In the last week, the Oil and Gas Drilling industry is down 8.1% with Noble down the most at 9.0%. In the past year, the industry has gained 75%. Earnings are forecast to grow by 59% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026US$30.8bUS$23.9b-US$1,804,438,000.006x-17.1x1.3x
Sat, 23 May 2026US$38.4bUS$23.8b-US$1,823,668,000.007.8x-21x1.6x
Mon, 20 Apr 2026US$33.1bUS$24.0b-US$1,869,706,000.006.2x-17.7x1.4x
Wed, 18 Mar 2026US$33.4bUS$24.1b-US$1,822,300,000.006.9x-18.3x1.4x
Fri, 13 Feb 2026US$32.0bUS$24.1b-US$2,339,965,000.0019.4x-13.7x1.3x
Sun, 11 Jan 2026US$23.4bUS$23.7b-US$2,231,281,000.0013.6x-10.5x1x
Tue, 09 Dec 2025US$23.7bUS$23.7b-US$2,231,281,000.0013.2x-10.6x1x
Thu, 06 Nov 2025US$21.3bUS$23.4b-US$2,152,027,000.0016.1x-9.9x0.9x
Sat, 04 Oct 2025US$19.5bUS$23.5b-US$2,026,761,000.0015.4x-9.6x0.8x
Mon, 01 Sep 2025US$18.8bUS$23.4b-US$2,026,761,000.0015.4x-9.3x0.8x
Wed, 30 Jul 2025US$18.4bUS$22.7b-US$483,754,000.0010.5x-38.1x0.8x
Fri, 27 Jun 2025US$16.1bUS$22.9b-US$423,533,000.008.9x-37.9x0.7x
Sun, 25 May 2025US$14.6bUS$22.9b-US$423,533,000.007.9x-34.5x0.6x
Tue, 22 Apr 2025US$14.3bUS$22.4b-US$8,645,000.005.8x-1654.5x0.6x
Thu, 20 Mar 2025US$17.9bUS$22.4b-US$78,705,000.007.6x-226.8x0.8x
Sat, 15 Feb 2025US$21.3bUS$22.6bUS$662.7m6.8x32.1x0.9x
Mon, 13 Jan 2025US$23.3bUS$23.1bUS$782.8m7.8x29.8x1x
Wed, 11 Dec 2024US$22.1bUS$22.2bUS$698.6m6.1x31.7x1x
Fri, 08 Nov 2024US$24.6bUS$22.2bUS$781.4m5.6x31.5x1.1x
Sun, 06 Oct 2024US$24.9bUS$20.8bUS$2.0b9.9x12.7x1.2x
Tue, 03 Sep 2024US$26.5bUS$21.8bUS$1.7b9.1x15.7x1.2x
Thu, 01 Aug 2024US$33.0bUS$21.5bUS$1.4b11.8x23x1.5x
Sat, 29 Jun 2024US$30.1bUS$21.0bUS$1.6b11.2x19.4x1.4x
Mon, 27 May 2024US$30.8bUS$21.0bUS$1.6b11.1x19.9x1.5x
Wed, 24 Apr 2024US$31.9bUS$20.0bUS$1.2b11.9x26.2x1.6x
Fri, 22 Mar 2024US$28.8bUS$18.5bUS$915.8m12x31.4x1.6x
Sun, 18 Feb 2024US$26.2bUS$18.2b-US$28,286,000.0020.4x-927.6x1.4x
Tue, 16 Jan 2024US$25.8bUS$17.5b-US$34,902,000.0015.1x-739.1x1.5x
Thu, 14 Dec 2023US$25.5bUS$17.5b-US$34,902,000.0016.2x-731.8x1.5x
Sat, 11 Nov 2023US$28.3bUS$17.5b-US$55,104,000.0017.8x-513.2x1.6x
Mon, 09 Oct 2023US$30.1bUS$16.7bUS$299.5m14.8x100.5x1.8x
Wed, 06 Sep 2023US$30.6bUS$16.7bUS$299.5m10.7x102.1x1.8x
Fri, 04 Aug 2023US$30.4bUS$16.5bUS$85.4m21.1x355.5x1.8x
Sun, 02 Jul 2023US$24.8bUS$15.7bUS$73.9m18.1x335.2x1.6x
Price to Earnings Ratio

335.2x


Total Market Cap: US$24.8bTotal Earnings: US$73.9mTotal Revenue: US$15.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Drilling Industry Price to Earnings3Y Average -78.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Oil and Gas Drilling industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PS ratio of 1.2x.
Past Earnings Growth
  • Total earnings for the Oil and Gas Drilling industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 15% 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 decreased profits.

Industry Comparison

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

US Market-2.47%
Energy-1.39%
Energy Services-5.19%
Oil and Gas Drilling-8.14%
Oil and Gas Services-4.83%
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
BORR Borr DrillingUS$4.372.3%
+US$30.8m		138.8%PE40.9x

Latest News

HP
US$32.76
Helmerich & Payne
7D
-8.4%
1Y
111.6%
Narrative Update • Jun 24

HP: Future Returns Will Reflect Oil Volatility And Balanced Risk Reward

Analysts have lifted their fair value estimate for Helmerich & Payne stock from about $31.83 to roughly $33.50. They point to slightly lower required returns and modestly stronger projected profitability as key drivers of the new price target.
RIG
US$5.04
Transocean
7D
-9.7%
1Y
90.9%
VAL
US$75.52
Valaris
7D
-9.1%
1Y
79.7%
Seeking Alpha • Jun 24

Valaris: Small Arbitrage Play Short-Term, Large Consolidated Upside Long-Term

Summary Valaris remains a Strong Buy, supported by robust fleet quality, stable OPEX, and favorable medium-term rate dynamics. The Transocean all-stock merger offers a 4.8% arbitrage upside, with regulatory approvals progressing and minimal integration costs expected. Recent revenue and EPS misses are attributed to temporary fleet idle days, not structural weakness; VAL backlog growth signals utilization rebound to ~80% in H2. Post-merger, the combined fleet of 81 rigs, including the ARO Drilling JV, positions the entity for growth, especially in the Middle East. Read the full article on Seeking Alpha
PTEN
US$9.52
Patterson-UTI Energy
7D
-7.6%
1Y
65.6%
Analysis Article • Jun 19

Patterson UTI Energy (PTEN) Stock Could Be 13.6% Overvalued After Recent Share Price Slide

Patterson-UTI Energy (PTEN) has drawn fresh attention after recent share price weakness, with the stock down about 18% over the past month and nearly 8% over the past 3 months. See our latest analysis for Patterson-UTI Energy. At a share price of $10.04, Patterson-UTI Energy has seen momentum cool in the short term, with a 7 day share price return of down 12.62% and a 30 day share price return of down 18.24%. This comes despite a year to date share price return of 55.18% and a 1 year total...
NE
US$39.17
Noble
7D
-9.0%
1Y
44.6%
Narrative Update • Jun 18

NE: Refinancing And Stronger Offshore Drilling Demand Will Support Bullish Upside

Analysts have maintained their $59.00 price target on Noble, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E that together support a steady valuation view. What’s in the News for Noble Barclays upgraded Noble Corporation plc to Overweight, citing expectations for stronger offshore drilling demand and referencing a forecast for 9% to 10% growth in upstream spending for 2027 and roughly double digit growth for 2028, along with new floater contracts and extensions that add to Noble’s contract coverage and backlog (source: Barclays upgrade report).
SDRL
US$37.70
Seadrill
7D
-6.2%
1Y
45.6%
Narrative Update • Jun 16

SDRL: Backlog Strength And Refinancing Plans Will Support Balanced Stock Outlook

Analysts have kept their Seadrill price target steady at $45.00, citing updated assumptions around the discount rate, revenue growth, profit margins, and future P/E that together support holding the existing fair value view. What's in the News for Seadrill Energy sector stocks, including Seadrill, recently traded lower as investors reacted to headlines around a possible US Iran deal and later escalations in the Middle East, with markets weighing conflict risks against hopes for diplomacy.
BORR
US$4.37
Borr Drilling
7D
2.3%
1Y
138.8%
Seeking Alpha • Jun 15

Borr Drilling: A Strategic Investor's Trimming Is Putting Near-Term Pressure On The Stock

Summary Borr is undergoing a 30% correction off its recent highs so far as a strategic investor has been trimming their holdings. Other insiders have stepped in to add shares, suggesting the strategic investor isn't sizing down due to negative fundamental information. Borr has made a couple of important asset acquisitions and has taken off the table any near-term refinancing or liquidity risk. The company can gain from both a Hormuz open and Hormuz closed scenario. Read the full article on Seeking Alpha
NBR
US$81.83
Nabors Industries
7D
-8.2%
1Y
198.3%
Narrative Update • Jun 15

NBR: Earnings Inflection And International Exposure Will Shape Forward Risk Reward Balance

The analyst price target for Nabors Industries has been adjusted to $108.50. Analysts point to a slightly lower discount rate and a modestly higher assumed future P/E multiple as key drivers of the change, while revenue growth and profit margin assumptions remain nearly unchanged.