Goldman Sachs on Canadian Oil Drilling (BJS, HAL, WFT, CAM, SII, FTI)

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By Douglas A. McIntyre Published
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Goldman Sachs issued its first of a 3-part conference call covering the Canadian market, and it noted that the stimulation outlook is improving.  Its preference in the first of three notes is for oil service stocks with a higher exposure to gas in the near-term.  It favors BJ Services (NYSE: BJS), Halliburton (NYSE: HAL), and Weatherford (NYSE: WFT) over more oil-dominant related names like Cameron International Corporation (NYSE: CAM), Smith International Inc. (NYSE: SII), and FMC Technologies, Inc. (NYSE: FTI).

Most of the upside here is due to a limited new drilling activity in North America in the second half of 2008 and into 2009, which is combined with significantly higher natural gas prices.  It also notes that oil drillers will be dependent upon new rig additions.

Jon C. Ogg
March 18, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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