pick of the engineering sector, page-4

team..... NMS is not entirely dependent on the oil/gas price. NMS has contracts to install repair and improve exisying facilities such as offshore oil platforms and seabed pipelines. This is infrastructure installed at billions of dollars and no company can afford to have such a facility not producing effeciently or leaking oil into the ocean etc. Hence, WPL Shell BP Total TEXACO etc simply have to keep their facilities upgrded. Hundreds of platforms in Gulf of Mexico still not repaired and only producing a fraction of full capacity. So even if oil drops to $40 (which i feel will be the absolute bottom) companies need to employ contractors to maintain their complex and horrendously expensive facilities. Offshore energy engineering is very different from the nightmare facing some mining engineering firms. I remain bullish re NMS.
V. bullish.