Oilfield services firms to benefit from Saudi bet on gas, Barclays says

|By:, SA News Editor

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).