Producing the energy necessary to meet global demand is getting more complicated… and costly.
At the turn of the century, there were only seven energy companies with projects costing $5 billion or more. Now there are more than 35 such projects.
That means energy companies all over the world are competing with each other for the equipment and engineering talents provided by the oil services companies.
And that’s exactly where the opportunity lies…
Want more proof?
A Drilling Bonanza About to Hit
On February 26, British energy research and consulting company, Douglas-Westwood, forecasted that global energy demand would grow by 17% by 2020.
And in order to meet current demand, there would need to be an astonishing 670,000 wells drilled from 2014 through 2020!
Just in the United States, Douglas-Westwood predicts that onshore oil well completions will soar by 36%.
The firm isn’t alone in its forecasts, either.
Douglas-Westwood’s analysis jibes with previous research conducted by the business intelligence firm, GBI Research.
Last year, GBI said that by 2017, the oil service industry would grow to $213 billion. That’s a 40% gain over 2012’s total of $152 billion.
So for investors looking to profit from the trend, the oil services industry could be your best shot.
The Big Three to Benefit Most
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That’s because they generate growth by leveraging the latest cutting-edge technologies in order to achieve better profit margins or gain market share.
These oil service giants hold superior intellectual property and patents, particularly when compared to the smaller players in the industry.
Halliburton, for example, is not only moving ahead with the use of “green” fracking fluids, but also its “frac fleet,” which runs on a combination of diesel and compressed natural gas.
Bottom line: Instead of buying an exploration and production company and hope it hits it big, take a look at the oil services companies. With drilling about to ramp up in a big way, profits (and, in turn, share prices) could blast higher in the near future.
And “the chase” continues,