NEW YORK, NY--(Marketwire - Feb 20, 2013) - The nation's focus on reducing its dependence for oil have created significant opportunities for growth for companies in the Oil & Gas Equipment & Services Industry. The International Energy Agency (IEA) recently forecasted the U.S. will become the world's largest oil producer by 2020. Five Star Equities examines the outlook for companies in the Oil & Gas Equipment & Services Industry and provides equity research on Patterson-UTI Energy, Inc. (
The emergence of "fracking" and increased access to pipelines have both been contributing factors the nation's boom in oil production. Energy Information Administration (EIA) last month reported that oil production in the U.S. surpassed the 7 million barrels per day mark, which is the highest level in nearly 20 years. Despite a projection of a just a 0.3 percent increase in domestic oil demand, the EIA expects U.S. oil production to increase 14 percent to 7.3 million barrels a day in 2013. Oil production in the U.S. is projected to peak at 11.1 million barrels a day in 2020.
Five Star Equities releases regular market updates on the Oil & Gas Equipment & Services Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Shares of Patterson-UTI Energy have gained over 30 percent year-to-date. The company's subsidiaries provide onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company reported revenues from hydraulic fracturing in the fourth quarter increased 16 percent sequentially to $212 million.
Shares of Cal Dive International have gained nearly 25 percent year-to-date. For over 30 years, Cal Dive has been synonymous with manned diving, pipelay and pipe burial, platform installation, decommissioning and salvage services to the offshore oil and natural gas industry. The company is scheduled to release results for the fourth quarter and full year 2012 on Thursday, February 28th.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: