Pritchard's Oil Services Weekly Report
August 16, 2010 10:15 AM
Pritchard Capital Partners includes these companies in its top fundamental long ideas section for oil companies:
Ensco, PLC (NYSE: ESV), FMC Technologies, Inc. (NYSE: FTI), Halliburton Company (NYSE: HAL), RPC, Inc. (NYSE: RES), and Superior Energy Services, Inc. (NYSE: SPN).
Pritchard also reports on a marriage between Nabors Industries, Ltd. (NYSE:BNR) and Superior Well Services, Inc. (NASDAQ: SWSI), costing NBR $900M, which is expected to bring in drilling business on a much larger scale, among the other acquisitions and expansions in the drilling industry.
Seawell (74% owned by Seadrill Ltd. (OSL:SRDL)) acquired Allis-Chalmers Energy, Inc. (NYSE:AYL) on Friday, while Noble Corporation (NYSE: NE) purchased privately held Frontier Drilling and Rowan Schlumberger Ltd (NYSE: SLB) in order to take out BJ Services and Smith International, Inc. (NYSE: SII).
Overall, M&A made for a interesting, albeit slow week in the Oil Services industry.
