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Outlook for Saudi drilling has oil service companies lining up

  • Saudi Aramco is reportedly set to raise the rig count in Saudi Arabia to more than 200 by the end of next year and energy service companies are ready to take advantage of the opportunity.
  • Saudi Arabia is under pressure to plug a supply hole left by disruptions in Libya, Iran, Nigeria, and Yemen and "is investing heavily to preserve the world's largest spare oil production capacity cushion at more than 2M bpd," Reuters says.
  • Industry heavyweights looking to capitalize on a potential boom in drilling include: Halliburton (HAL), Nabors (NBR), Rowan (RDC), Ensco (ESV), Baker Hughes (BHI), and Schlumberger (SLB).
Comments (1)
  • User 353732
    , contributor
    Comments (4785) | Send Message
     
    The greater pressure on the Saudis is to substantially increase national security spending to counter Iran and its vassals given the manifest unreliability of , indeed duplicity and betrayal by, the US Regime.
    The Saudis must now not only spend more on containing the Syrian Regime but also ensure that the Egyptian military remains in control, Libya does become a completely failed state, Tunisia does not descend into civil war, Iraq does not revert to Shiite domination and fight Iranian financed and trained terrorists in the Gulf states.

     

    Saudi Arabia needs the money and it will produce as much as it can to get it while denying markets and revenues to Iran.
    27 Oct 2013, 03:43 PM Reply Like
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