U.S. Oil Production Hits Highest Level in 20 Years, Projected to Increase an Additional 14% in 2013
Five Star Equities Provides Stock Research on Baker Hughes and Halliburton
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/18/13 -- 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 Baker Hughes Inc. (NYSE: BHI) and Halliburton Company (NYSE: HAL).
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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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Baker Hughes is a supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company recently reported that it expects North America Revenue and profit margins to be lower than previous expectations. Baker Hughes is scheduled to release their fourth quarter results before market open on Wednesday, January 23rd.
Halliburton serves the upstream oil and gas industry throughout the life cycle of the reservoir -- from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. The company, along with Apache Corp. and Caterpillar, has developed an innovative dual-fuel technology to use clean-burning natural gas to power pumping equipment used for fracturing.
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:
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Datum: 18.01.2013 - 07:20 Uhr
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