After $5.6 billion in Gulf of Mexico asset sales since 2010, BP has ceded its spot as the top producer in the region to Royal Dutch Shell . This area has been the only strength in the North American market as of late, and companies are extremely bullish on potential in the gulf. BP's management clearly believes in this thesis as well, as it announced plans to spend around $4 billion annually in the offshore market here for the next decade. Will this help it reclaim the top spot? Only time will tell. Tune in below for Motley Fool energy analyst Taylor Muckerman's take on the Gulf of Mexico's effect on other big names in the oil and gas industry.
Halliburton is ready to seize the day in the Gulf of Mexico
Domestic oil and gas service companies have taken a hit due to a slowdown in the natural gas drilling boom of the last couple of years. As this market looks to rebound, investors would be wise to consider Halliburton, one of the top companies in the business. It is also one of those most in tune with the domestic market, with over 50% of revenues coming from North America alone. To access The Motley Fool's new premium research report on this industry stalwart, simply click here now and learn everything you need to know about how Halliburton is positioning itself both at home and abroad.
The article Treading Water in the Gulf of Mexico originally appeared on Fool.com.
Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Halliburton. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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