NEW YORK, NY — (Marketwire) — 01/21/13 — The nation-s focus on reducing its dependence for oil has 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 C&J Energy Services Inc. (NYSE: CJES) and Schlumberger Ltd. (NYSE: SLB).
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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) earlier this 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.
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C&J Energy Services an independent provider of premium hydraulic fracturing, coiled tubing, pressure pumping, wireline and other complementary services with a focus on complex, technically demanding well completions. The company reported revenues of $307.8 million in the third quarter of 2012 an increase of 34 percent year-over-year and an increase of 11 percent sequentially.
Schlumberger is the world-s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. The company reported Oilfield Services revenues totaled $11.17 billion in the fourth quarter of 2012, an increase of 8 percent year-over-year and an increase of 5 percent sequentially.
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