real-time news and commentary for investors
Friday, Sep 6
Oilfield services firms to benefit from Saudi bet on gas, Barclays says
- Rising domestic oil consumption is pushing Saudi Arabia to ramp up natural gas production and develop its unconventional gas reserves, a move that should benefit major oilfield services and equipment firms such as Baker Hughes (BHI), Halliburton (HAL) and Schlumberger (SLB), Barclays says.
- Saudi Aramco’s new ambitions dovetail into rig growth, giving a boost to Rowan (RDC), Ensco (ESV) and Seadrill (SDRL), the firm says.
- Others expected to benefit from Saudi gas and unconventionals exploration; Weatherford (WFT), Nabors (NBR) and Superior Energy Services (SPN).