Oil & Gas Equipment & Services Industry Continues to Face Challenges in 2012
17 Julho 2012 - 9:20AM
Marketwired
Falling Oil prices and a shift in focus from natural gas to oil
drilling have been some of the challenges they have faced in 2012.
"All signs point to a continued weakening in the U.S. onshore
[oil-field services] market," Raymond James, analyst, said in a
recent report. Five Star Equities examines the outlook for
companies in the Oil & Gas Equipment & Services Industry
and provides equity research on Schlumberger Ltd. (NYSE: SLB) and
National-Oilwell Varco, Inc. (NYSE: NOV).
Access to the full company reports can be found at:
www.ParagonReport.com/SLB
www.ParagonReport.com/NOV
The recent economic slowdowns in Europe and China have raised
concerns regarding future oil demand. Falling prices have made it
less profitable for oil and gas companies to drill in formations
requiring more expensive drilling techniques. "I think there is
considerably more uncertainty about the resilience of exploration
and production capital spending" in North America, said Bill
Herbert, Simmons & Co. analyst. "That's the result of
diminished cash flow and cash-flow expectations."
Investors will receive a clearer picture of the industry after
Schlumberger Ltd. and Baker Hughes Inc. report second quarter
results at the end of the week.
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& Gas Equipment & Services Industry so investors can stay
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Schlumberger reported first-quarter 2012 revenue of $10.61
billion versus $10.97 billion in the fourth quarter of 2011, and
$8.72 billion in the first quarter of 2011. Net income attributable
to Schlumberger, excluding charges and credits, was $1.31 billion
-- a decrease of 12% sequentially but an increase of 35%
year-on-year. The company will hold a conference call on July 20,
2012 to discuss the results for the second quarter ending June 30,
2012.
National Oilwell Varco has scheduled a conference call to
discuss the second quarter results of 2012 on Thursday, July 26,
2012 at 8:00 a.m. Central Time. Financial results for the second
quarter of 2012 are expected to be released that morning before the
market opens. The company in May completed their acquisition of the
Wilson distribution business segment from Schlumberger.
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