Oilfiled services/equipment
Article Abstract:
The economic environment is expected to be poor for the oilfield services and equipment industry in 1999, although earnings remained good through most of 1998, as drilling activity has slowed. However, many oil companies have turned to offshore drilling due to declining reserves and the multiyear contracts that occur in this sector will help the industry maintain cash flow. These stocks are not timely in 1999 and have appeal mainly for long-term investors.
Publication Name: The Value Line Investment Survey (Part 3 - Ratings & Reports)
Subject: Business, general
ISSN: 0042-2401
Year: 1999
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Oilfield services/equipment
Article Abstract:
Oil drilling activity decreased at an 8% annualized rate worldwide in the 2nd qtr of 1998 as measured by drilling rig use, and there has been a like decline in the demand for drilling equipment and services. The petroleum industry has turned to offshore drilling in response to declining reserves, but it will be several years before these projects are productive. These stocks are not timely in 1998 and are more appealing for the long term.
Publication Name: The Value Line Investment Survey (Part 3 - Ratings & Reports)
Subject: Business, general
ISSN: 0042-2401
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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