Zacks Analyst Blog Highlights: Halliburton Company, Schlumberger Limited, Smith International Inc., National-Oilwell Varco and Weatherford International Ltd.

For Immediate Release

Chicago, IL – December 1, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Halliburton Company (HAL - Analyst Report), Schlumberger Limited (SLB - Analyst Report), Smith International Inc. (SII), National-Oilwell Varco (NOV - Analyst Report) and Weatherford International Ltd. (WFT - Analyst Report).

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Here are highlights from Monday’s Analyst Blog:

U.S. Rigs Increase for 6th Week

Producers had scaled back oil and gas drilling operations over the past several months in the midst of falling commodity prices and tighter access to credit. However, during recent weeks, there have been signs that companies were beginning to bring rigs back on line amid signs of economic stabilization that could drive up energy demand. This pushed the nationwide rig count above 1,100 working units for the week ended Nov. 13 for the first time since March.

The overall picture, though, remains weak, particularly for natural gas, whose inventories have recently hit a new record high of 3.84 trillion cubic feet (Tcf) and is on the verge of testing the maximum capacity of 3.89 Tcf. The supply picture is expected to reverse in the coming months as producers bet on colder weather and the lagging effect of the sharp drop in domestic drilling activity takes hold.

Until then, we believe that natural gas woes (especially in North America) will continue to haunt energy service firms like Halliburton Company (HAL - Analyst Report), Schlumberger Limited (SLB - Analyst Report), Baker Hughes, Smith International Inc. (SII), National-Oilwell Varco (NOV - Analyst Report) and Weatherford International Ltd. (WFT - Analyst Report). These oilfield service names have seen their revenues and earnings plunge in the last few quarters on the back of lower volumes and a very competitive pricing environment. We have Neutral recommendations on all the above-mentioned companies.

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Read the full analyst report on HAL

Read the full analyst report on SLB

Read the full analyst report on SII

Read the full analyst report on NOV

Read the full analyst report on WFT