2014-03-06 01:41:01 - Energy Equipment - Services - Industry Analysis - a new market research report on companiesandmarkets.com
The Oilfield Services/Equipment Industry is made up of a mature set of companies, the fortunes of which are dependent on the drilling expenditures of oil and natural gas producers. Since demand for such fuels fluctuates with the economy, oilfield services stocks are considered cyclical. Companies in this industry are of two main types: those that rent drilling rigs and those that provide the various services required to evaluate, construct, and maintain oil and gas wells. The top service and equipment providers offer the broadest array of capabilities. Smaller players usually focus on a market niche. Contract drillers may be classified as land and/or offshore operators. Offshore drilling equipment is graded according to its ability to work in deep water
and in rugged environments. Notably, rigs capable of drilling in the stormy North Sea have historically earned higher rental rates than those in the Gulf of Mexico. Industry margins are excellent during boom times, but can narrow supply during slow periods.
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