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Barclays on U.S. Oil Services & Drilling: Romney Energy Plan Could Be Positive for Industry

August 24, 2012 2:18 PM EDT
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Barclays on U.S. Oil Services & Drilling: Romney Energy Plan Could Be Positive for Industry

Analyst, James C. West, said, "New Initiatives to Increase North American Production: Yesterday, presumptive Republican Presidential nominee Mitt Romney unveiled his energy plan. Overall, we believe the plan could be positive for the Oil Services, Equipment & Drilling industry as it would help streamline and improve the permitting process, open up new onshore and offshore areas for drilling, and generally lead to an overall increase in drilling activity. The plan calls for "energy independence by 2020", drawing from analysis that points to the potential to reduce oil imports by increasing North American unconventional and offshore production. Key takeaways for the Oil Services & Drilling industry include: 1) more control at the state level, 2) the creation of new cross-state and cross-border collaborative bodies, 3) the opening of new exploration acreage, and 4) improved access to geological information."

Some stocks in the Oil Services & Drilling sector include: Transocean (NYSE: RIG), QEP Resources (NYSE: QEP), Bill Barrett (NYSE: BBG), ZaZa Energy (Nasdaq: ZAZA), Cenovus Energy Inc. (NYSE: CVE), Diamond Offshore (NYSE: DO), Seadrill (Nasdaq: SDRL), Nabors Industries (NYSE: NBR), Pengrowth Energy (NYSE: PGH), Approach Resources, Inc. (Nasdaq: AREX), Pacific Drilling S.A. (Nasdaq: PACD) and SandRidge Energy, Inc. (NYSE: SD)


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