Very strong rebounds in oil services companies (subsea drilling rigs, subsea services, vessel hire, oil/gas engineering related services, etc) in the US. The sector is where some of the best "energy" investment opportunities exist at present. ie: Not in the oil/gas operators directly, but in the stretched services that that MUST be used to install new production and to maintain currently aging assets.
There has never been any real slowdown in the oil services sector over the entire year, despite oil price declines and all related share prices being killed along with the rest of the blood letting. Most oil services companies have continued to achieve record revenues, margins and profits and are still looking at similar well into the future. From the industry (not media sources), there is little sign of this trend letting up. Day rates for hire of rigs and vessels to operators remain at record high levels internationally. This expenditure that cannot be avoided by the oil/gas industry despite high rates. There is excellent long term value in this heavily discounted sector. The companies and the sector in general remains extremely buoyant internationally.
