It looks as though an overall weak exploration program in 2012 will be changing in 2013. Capital expenditure budgets for exploration and production are expected to reach over $644 billion, according to a Barclays report out this week. Does this mean good things all around for the oil services industry? Today, Fool.com contributor Tyler Crowe and Motley Fool analyst Joel South look at some of the finer details in this report and assess what it could mean for some companies in this space.
National Oilwell Varco is perhaps the safest investment in the energy sector due to its industry-leading 60% market share and its international presence. This company is poised to profit in a big way; its customers are both increasing the number of new drilling rigs as well as updating an aging fleet of offshore rigs. To help determine if NOV is a nice fit for your portfolio, check out our premium research report with in-depth analysis on whether NOV is a buy today. For instant access to this valuable investor's resource, simply click here now and claim your copy today.
The article Which Energy Services Companies Will Benefit in 2013? originally appeared on Fool.com.
Joel South owns shares of Schlumberger. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter@TylerCroweFool.The Motley Fool recommends National Oilwell Varco. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.