Are These Oil Production Expectations Too High?
Wrapping up the last of the major offshore drillers, Seadrill leaned heavily on its shallow water jack-up segment to perform most of the heavy profit lifting. Don't second guess this company's reliance on the deepwater market, however. According to management, the offshore boom could see production grow from around 1 million barrels per day to nearly 5 million as early as 2020.
If this is the case, there are many companies that stand to benefit. Based on everything that has been said about this market and the continued strong performance of the sector, Motley Fool analyst Taylor Muckerman doesn't view these claims as very outlandish. Check out more below.
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The article Are These Oil Production Expectations Too High? originally appeared on Fool.com.Taylor Muckerman owns shares of Ensco. The Motley Fool recommends Seadrill. The Motley Fool owns shares of Seadrill and Transocean. 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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