Credit Suisse Managing Director James K. Wicklund, U.S. Oilfield Equipment and Services Expert: Major Shift in Oil Companies Drilling and Exploration Strategies
67 WALL STREET, New York - July 9, 2014 - The Wall Street Transcript has just published its Oil & Gas Review 2014 Report. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Oil & Gas Review 2014
Companies include: Halliburton Company (HAL), Schlumberger Limited (SLB), Transocean Ltd. (RIG), Icahn Enterprises, L.P. (IEP), Weatherford International Ltd. (WFT), National Oilwell Varco, Incorp (NOV), FMC Technologies, Inc. (FTI), Cameron International Corporat (CAM), Baker Hughes Inc. (BHI) and many others.
In the following excerpt from the Oil & Gas Review 2014 Report, an expert analyst discusses the outlook for the sector for investors:
TWST: From a big-picture perspective, how should investors approach investing in oilfield equipment and services differently than they should approach investing in the oil companies directly?
Mr. Wicklund: The good part about oilfield services is that they are tied more to the volume of oil and gas produced rather than directly tied to the price, and so as long as activity is maintained, regardless of the profitability by the E&P industry, the oilfield service industry benefits. Now, I understand that historically there has been a correlation between commodity prices and activity. But starting about six years ago, with the advent of the shale revolution, the commitments being made onshore U.S. by major oil companies and major independent oil companies are different structurally than we've seen in the past. These are long-term, extremely service-intensive efforts of development.
TWST: Which company do you consider to be the bellwether for your group, and what is happening for that company that can be considered indicators of where the sector could be headed in 2014?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
