Oil & Gas Equipment & Services


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. Schlumberger Limited SLB9,61113,74613,47413,89311,48014,30919,23023,27727,16322,70227,44739,54042,14945,26648,58035,47527,81030,44032,81532,917
2. Baker Hughes Company BKR15,7429,84117,25922,87723,838
3. Halliburton Company HAL11,85612,93912,49816,24620,46421,00722,50415,26418,27914,67517,97324,82928,50329,40232,87023,63315,88720,62023,99522,408
4. TechnipFMC plc FTI2,7903,1564,6685,9356,9606,4059,25111,54510,4499,2928,0948,87310,85812,91112,22811,4729,20015,05712,55313,409
5. National Oilwell Varco, Inc NOV1,1501,7471,5222,0052,3184,6457,0269,78913,43112,71212,15614,65820,04122,86921,44014,7577,2517,3048,4538,479
6. Tenaris S.A TS2,3193,1203,2353,1874,1576,7367,74110,04212,1328,1497,7129,97210,83410,59710,3386,9034,2945,2897,6597,294
7. Subsea 7 S.A SUBCY9831,2561,4371,4821,2421,4882,1242,6632,5222,2092,3695,4776,2976,2976,8704,7583,5673,9864,0743,657
8. Secure Energy Services Inc SECYF6.1121735411,0381,4051,9551,3461,4102,3282,9373,072
9. ProPetro Holding Corp PUMP5704379821,7052,052
10. Oceaneering International, Inc OII3085245476397809991,2801,7431,9771,8221,9172,1932,7833,2873,6603,0632,2721,9221,9002,048
11. Enerflex Ltd ENRFF1922362083974635756808318601,2031,5131,3231,5321,6291,1311,5531,7032,045
12. Liberty Oilfield Services Inc LBRT4553751,4902,1551,990
13. Calfrac Well Services Ltd CFWFF272024272012703664624645629391,5081,6081,4722,1491,4957351,5282,2561,621
14. Shawcor Ltd SAWLF3134334446367188619091,0521,1341,1251,0371,1351,4951,7391,6261,8111,2091,5671,4091,489
15. U.S. Silica Holdings, Inc SLCA1922452964425468776435601,2411,5771,474
16. Matrix Service Company MTRX1941912232886084394946517526905516277398931,2631,3431,3121,1981,0921,4171,101
17. CGG CGGYY6537157357719381,0581,7553,4673,6223,2012,9012,9423,4113,7663,0952,1021,1961,3201,1821,342
18. Exterran Corporation EXTN2,4152,1731,6871,0291,2151,3611,317
19. Select Energy Services, Inc WTTR5363026921,5291,292
20. Mullen Group Ltd MLLGF2282201923253915078611,1231,0809301,0431,3601,4391,3531,2291,2141,0351,1381,2611,279
21. CES Energy Solutions Corp CESDF3961103852504504756248375425681,0301,2711,277
22. TETRA Technologies, Inc TTI2253032433193535317859821,0098798738458819091,0781,1306958209991,038
23. Oil States International, Inc OIS3056716177249711,5321,9232,0882,9482,1082,4123,4794,4132,6701,8201,1006946711,0881,017
24. Archrock, Inc AROC5571,0691,0101,0721,1691,3541,6152,5403,1792,7162,4622,6832,8043,1602,900998807795904965
25. Forum Energy Technologies, Inc FET7471,1281,4151,5321,7401,0745888191,064957
26. PGS ASA PGSVY9061,0539941,1211,1351,1961,3081,5201,9181,3501,1351,2581,5191,5021,455962752827869928
27. Nine Energy Service, Inc NINE426479282544827833
28. Newpark Resources, Inc NR2674093213734335556686138584907169581,0381,0421,141677472730947820
29. Seacor Holdings Inc CKH3404354034064929721,3231,3591,6561,7112,6952,1761,5811,2471,3191,055831578836800
30. FTS International, Inc FTSI1,2871,3755321,4661,543777
31. Total Energy Services Inc TOTZF3137296288135174136127100222326310320368283198605852757
32. Helix Energy Solutions Group, Inc HLX1812273033965437991,3671,7672,1481,3881,2091,4038338918771,1171,107696489581740752
33. North American Construction Group Ltd NOA2954215449657717478841,016536443406281213293410719
34. USA Compression Partners, LP USAC153222271266280584698
35. STEP Energy Services Ltd SNVVF114115169553782668
36. Core Laboratories N.V CLB3363773654064274835766717816967959089811,0741,085798595660701668
37. National Energy Services Reunited Corp NESR271486658621
38. Trican Well Service Ltd TOLWF881141032213395507278398357711,4832,2652,2311,9912,327650325930901636
39. Cactus, Inc WHD221155341544628
40. Mammoth Energy Services, Inc TUSK2603682316921,690625
41. Frank's International N.V FI7391,0561,0781,152976486457524579
42. KLX Energy Services Holdings, Inc KLXE251152321495544
43. Tidewater Inc TDW6177296366536928781,1251,2701,3911,1691,0551,0671,2441,4351,496979602330407487
44. CSI Compressco LP CCLP918195109121283458311296439477
45. ClearStream Energy Services Inc NWPIF626763634605416271357378464
46. Dril-Quip, Inc DRQ164203216220222341443496543540566601733872931844539455385415
47. Macro Enterprises Inc MCESF3969337951465812714919917211554104191414
48. Cypress Environmental Partners, L.P CELP12.222404371298287319402
49. Ranger Energy Services, Inc RNGR2153154303337
50. Source Energy Services Ltd SCEYF126153139290415333
51. TerraVest Industries Inc TRRVF7145118195179193270306
52. Gulf Island Fabrication, Inc GIFI112114143204174189312473421312248308521608507306286171221303
53. Pason Systems Inc PSYTF29403571102153206236239138250327390379430285160246306296
54. SAExploration Holdings, Inc SAEX0024538722820612795255
55. RigNet, Inc RNET908193109162221330271221205239243
56. Solaris Oilfield Infrastructure, Inc SOI14.2118.1667197242
57. Smart Sand, Inc SND684859137212233
58. NCS Multistage Holdings, Inc NCSM11498202227205
59. SEACOR Marine Holdings Inc SMHI530369216174254201
60. High Arctic Energy Services Inc HGHAF106131126117120125147144148210208210203186
61. ION Geophysical Corporation IO212119150247363504713680420444455526549510222173198180175
62. Energy Services of America Corporation ESOA0029107218143158109931171551411351750
63. Nuverra Environmental Solutions, Inc NES10.513646157352526536357152176197168
64. Dawson Geophysical Company DWSN18.4738365269117169258325244205333151319196305135262119235133157154146
65. Essential Energy Services Ltd EEYUF8311310510616731135131730214898176190141
66. Aspen Aerogels, Inc ASPN06386102123118112104139
67. CWC Energy Services Corp CAWLF1131071248173112145108
68. Recon Technology, Ltd RCON9.5911.0817.199.8511.9512.3815.185243608410265
69. Geospace Technologies Corporation GEOS53646551647310413813593129173192301237856274769688
70. Natural Gas Services Group, Inc NGS8.7610.312.7515.96496372856854659489979672686578
71. Computer Modelling Group Ltd CMDXF5.895.646.087.749.4212.5414.74212735455362676785817575750
72. ENGlobal Corporation ENG16.9822921241492343033634933433213132281691088059565456
73. McCoy Global Inc MCCRF127162138931101511811041048227404953
74. Enservco Corporation ENSV253246573925414743
75. MIND Technology, Inc MIND10.64212719.15222635497667557111310592835241484343
76. Profire Energy, Inc PFIE15.9316.8935512715.99384639
77. Pulse Seismic Inc PLSDF6.7415.47202743473844372933508738312414.344410.1924
78. Superior Drilling Products, Inc SDPI9.9611.922012.717.1515.618.2519
79. Deep Down, Inc DPDW293029252519.4816.1818.92
80. NXT Energy Solutions Inc NSFDF000.5300.050.051.15.382.413.520.440.1510.982.523.374.751.450.47011.98
81. Hanwei Energy Services Corp HNWEF13.872041794432282916.318.98.377.4810.5610.710
82. Laredo Oil, Inc LRDC2.213.470.1410.99.829.368.488.15
83. RPC, Inc RES1842652092713404285976908775881,0961,8061,9391,8612,3371,2577371,6003.343.71
84. Wavefront Technology Solutions Inc WFTSF1.121.181.22.254.085.715.65.413.42.742.173.223.632.8
85. TRICCAR, Inc FOSI223016.083.821.281.141.140.89
86. QS Energy, Inc QSEP000000.24000.0500
87. Greenway Technologies, Inc GWTI0.020.0300000
88. Hyduke Energy Services Inc HYKCF83644738668310957422212.674324
89. Canadian Premium Sand Inc CLMPF000000000
90. Glori Energy Inc GLRI2.163.1915.8694.5
91. Integrated Drilling Equipment Holdings Corp IRIG16428410487
92. Caspian Services, Inc CSSV00.065.5410.5314.562443657398484925333016.45
93. Rival Technologies, Inc RVTI0.050000000000
94. Terra Energy & Resource Technologies, Inc TEGR0.290.26000.732.800.062.130.73
95. RDX Technologies Corporation RGDEF11.2115.4916.3734
96. Poseidon Concepts Corp POOSF5.5579
97. Raise Production Inc GLKFF0.190.250.160.170.220.330.340
98. LianDi Clean Technology, Inc LNDT7814112816279
99. Genoil Inc GNOLF00.710.0200.12000.080.0300000000000
100. Divestco Inc DSVTF3.334.6611.62233911168559414040323618.3115.9712.76
101. Energy & Technology, Corp ENGT3.394.137.135.443.962.21.912.56
102. Tesla Exploration Ltd TXLZF8811922119217413290
103. Aly Energy Services, Inc ALYE18.4243251114.6417.330
104. Georgetown Corporation GTCP00
105. Enseco Energy Services Corp ENSRF0000.520.930.06252523356879745879
106. Cal Dive International, Inc CDVIQ126224510624857829536480465517
107. Questor Technology Inc QUTIF0.771.121.481.692.669.173.463.665.85.986.749.0110.688.117.0819.46230


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. Schlumberger Limited SLB1.431.430.981.030.831.251.341.211.170.841.211.441.071.071.070.730.781.091.081
2. Baker Hughes Company BKR0.630.631.751.331.04
3. Halliburton Company HAL1.091.090.971.31.261.031.070.681.20.81.221.381.151.031.120.720.671.31.160.93
4. TechnipFMC plc FTI1.131.131.481.271.170.921.441.250.910.890.871.11.221.190.950.940.81.640.831.07
5. National Oilwell Varco, Inc NOV1.521.520.871.321.1621.511.391.370.950.961.211.371.140.940.690.491.011.161
6. Tenaris S.A TS1.351.351.040.991.31.621.151.31.210.670.951.291.090.980.980.670.621.231.450.95
7. Subsea 7 S.A SUBCY1.281.281.141.030.841.21.431.250.950.881.072.311.1511.090.690.751.121.020.9
8. Secure Energy Services Inc SECYF3.483.483.437.411.921.351.390.691.051.651.261.05
9. ProPetro Holding Corp PUMP0.770.772.251.741.2
10. Oceaneering International, Inc OII0.740.741.71.051.171.221.281.281.361.130.921.051.141.271.181.110.840.740.850.991.08
11. Enerflex Ltd ENRFF1.231.230.881.911.171.241.181.221.041.41.260.871.161.060.691.371.11.2
12. Liberty Oilfield Services Inc LBRT0.820.823.981.450.92
13. Calfrac Well Services Ltd CFWFF0.750.751.211.147.31.341.361.2611.211.671.611.070.921.460.70.492.081.480.72
14. Shawcor Ltd SAWLF1.381.381.031.431.131.21.061.161.080.990.921.091.321.160.941.110.671.30.91.06
15. U.S. Silica Holdings, Inc SLCA1.281.281.211.51.241.610.730.872.221.270.93
16. Matrix Service Company MTRX0.990.991.171.32.110.721.121.321.150.920.81.141.181.211.421.060.980.910.911.30.78
17. CGG CGGYY1.091.091.031.051.221.131.661.981.040.880.911.011.161.10.820.680.571.10.91.14
18. Exterran Corporation EXTN0.90.90.780.611.181.120.97
19. Select Energy Services, Inc WTTR0.560.562.292.210.84
20. Mullen Group Ltd MLLGF0.960.960.881.691.21.31.71.310.960.861.121.31.060.940.910.990.851.11.111.01
21. CES Energy Solutions Corp CESDF1.541.541.70.832.941.81.051.311.340.651.051.811.231
22. TETRA Technologies, Inc TTI1.351.350.81.311.111.51.481.251.030.870.990.971.041.031.181.050.611.181.221.04
23. Oil States International, Inc OIS2.22.20.921.171.341.581.261.091.410.721.141.441.270.610.680.60.630.971.620.93
24. Archrock, Inc AROC1.921.920.941.061.091.161.191.571.250.850.911.091.041.130.920.340.810.981.141.07
25. Forum Energy Technologies, Inc FET1.511.511.251.081.140.620.551.391.30.9
26. PGS ASA PGSVY1.161.160.941.131.011.051.091.161.260.70.841.111.210.990.970.660.781.11.051.07
27. Nine Energy Service, Inc NINE1.121.120.591.931.521.01
28. Newpark Resources, Inc NR1.531.530.791.161.161.281.20.921.40.571.461.341.0811.090.590.71.551.30.87
29. Seacor Holdings Inc CKH1.281.280.931.011.211.981.361.031.221.031.570.810.730.791.060.80.790.71.450.96
30. FTS International, Inc FTSI1.071.070.392.751.050.5
31. Total Energy Services Inc TOTZF1.21.20.782.141.431.531.290.780.930.792.211.460.951.031.150.770.73.061.410.89
32. Helix Energy Solutions Group, Inc HLX1.251.251.331.311.371.471.711.291.220.650.871.160.591.070.981.270.990.630.71.191.271.02
33. North American Construction Group Ltd NOA1.431.431.291.770.80.971.181.150.530.830.920.690.761.371.41.75
34. USA Compression Partners, LP USAC1.451.451.220.981.052.091.2
35. STEP Energy Services Ltd SNVVF1.021.021.463.271.410.85
36. Core Laboratories N.V CLB1.121.120.971.111.051.131.191.161.160.891.141.141.081.091.010.730.751.111.060.95
37. National Energy Services Reunited Corp NESR1.791.791.360.94
38. Trican Well Service Ltd TOLWF1.31.30.92.151.541.621.321.1510.921.921.530.980.891.170.280.52.860.970.71
39. Cactus, Inc WHD0.70.72.21.591.15
40. Mammoth Energy Services, Inc TUSK1.421.420.632.992.440.37
41. Frank's International N.V FI1.431.431.021.070.850.50.941.151.11
42. KLX Energy Services Holdings, Inc KLXE0.610.612.111.551.1
43. Tidewater Inc TDW1.071.071.180.871.031.061.271.281.131.090.840.91.011.171.151.040.650.610.551.231.2
44. CSI Compressco LP CCLP0.90.91.171.141.122.331.620.680.951.481.09
45. ClearStream Energy Services Inc NWPIF1.221.220.830.950.690.651.321.061.23
46. Dril-Quip, Inc DRQ1.241.241.061.021.011.541.31.121.111.051.061.221.191.070.910.640.850.841.08
47. Macro Enterprises Inc MCESF1.771.770.482.360.640.911.272.171.181.330.860.670.471.911.842.17
48. Cypress Environmental Partners, L.P CELP1.831.8318.060.920.80.961.111.26
49. Ranger Energy Services, Inc RNGR2.492.492.921.971.11
50. Source Energy Services Ltd SCEYF1.211.210.912.081.430.8
51. TerraVest Industries Inc TRRVF0.640.642.591.660.921.081.41.13
52. Gulf Island Fabrication, Inc GIFI1.011.011.261.430.851.081.661.510.890.740.81.241.691.170.830.60.940.61.291.37
53. Pason Systems Inc PSYTF1.361.360.892.011.441.51.351.141.010.581.811.311.190.971.130.660.561.531.250.96
54. SAExploration Holdings, Inc SAEXNANNANINF1.580.590.90.620.742.7
55. RigNet, Inc RNET0.90.91.151.181.481.371.50.820.810.931.171.02
56. Solaris Oilfield Infrastructure, Inc SOI1.281.283.712.931.23
57. Smart Sand, Inc SND0.70.71.242.321.551.1
58. NCS Multistage Holdings, Inc NCSM0.860.862.051.130.91
59. SEACOR Marine Holdings Inc SMHI0.70.70.580.811.460.79
60. High Arctic Energy Services Inc HGHAF1.231.230.970.921.031.041.180.981.031.420.991.010.970.91
61. ION Geophysical Corporation IO1.751.750.561.271.651.471.391.420.950.621.061.021.161.040.930.430.781.140.910.97
62. Energy Services of America Corporation ESOANANNANINF3.742.040.661.10.690.861.251.330.90.961.290
63. Nuverra Environmental Solutions, Inc NES3.423.421.273.432.241.491.020.670.431.161.120.85
64. Dawson Geophysical Company DWSN2.052.050.951.431.341.681.441.531.260.750.841.620.452.110.611.560.441.950.451.970.571.180.980.95
65. Essential Energy Services Ltd EEYUF1.361.360.931.011.571.861.130.90.960.490.661.81.080.74
66. Aspen Aerogels, Inc ASPNINFINF1.361.191.20.960.950.931.34
67. CWC Energy Services Corp CAWLF0.940.941.160.660.91.531.290.75
68. Recon Technology, Ltd RCON1.161.161.550.571.211.041.233.390.831.411.411.210.64
69. Geospace Technologies Corporation GEOS1.191.191.020.781.251.151.421.330.970.691.381.351.111.570.790.360.731.191.031.260.92
70. Natural Gas Services Group, Inc NGS1.181.181.241.253.091.271.161.180.790.81.211.440.951.090.990.750.940.971.2
71. Computer Modelling Group Ltd CMDXF0.960.961.081.271.221.331.181.391.331.281.281.21.151.111.260.950.930.9910
72. ENGlobal Corporation ENG1.31.34.151.351.21.571.31.21.360.70.930.980.730.740.640.740.740.940.971.05
73. McCoy Global Inc MCCRF1.271.270.860.671.191.371.20.5710.790.331.481.231.09
74. Enservco Corporation ENSV1.281.281.481.220.690.631.661.150.92
75. MIND Technology, Inc MIND1.941.941.320.71.171.181.311.411.560.870.831.291.580.930.880.90.620.791.180.890.99
76. Profire Energy, Inc PFIE1.061.062.11.450.530.592.391.190.85
77. Pulse Seismic Inc PLSDF2.292.291.31.361.561.10.821.160.840.781.131.521.720.440.810.790.593.040.232.37
78. Superior Drilling Products, Inc SDPI1.21.21.680.630.562.181.171.04
79. Deep Down, Inc DPDW1.021.020.970.871.020.770.831.17
80. NXT Energy Solutions Inc NSFDFNANNANINF0INF1.0222.474.880.451.460.130.3374.220.231.341.410.30.330INF
81. Hanwei Energy Services Corp HNWEF1.471.472.011.940.550.720.881.050.561.160.440.891.411.010
82. Laredo Oil, Inc LRDC1.571.570.0478.570.90.950.910.96
83. RPC, Inc RES1.441.440.791.291.261.261.41.161.270.671.871.651.070.961.260.540.592.1701.11
84. Wavefront Technology Solutions Inc WFTSF1.051.051.021.871.811.40.980.960.630.810.791.481.130.77
85. TRICCAR, Inc FOSI1.391.390.530.240.340.8910.79
86. QS Energy, Inc QSEPNANNANNANNANNANINF0NANINF0NAN
87. Greenway Technologies, Inc GWTI1.671.670NANNANNANNAN
88. Hyduke Energy Services Inc HYKCF0.770.770.740.81.751.261.310.520.730.520.583.380.56
89. Canadian Premium Sand Inc CLMPFNANNANNANNANNANNANNANNANNAN
90. Glori Energy Inc GLRI1.481.484.970.570.5
91. Integrated Drilling Equipment Holdings Corp IRIG1.741.740.360.84
92. Caspian Services, Inc CSSVINFINF89.271.91.381.631.811.511.121.350.481.030.51.340.90.55
93. Rival Technologies, Inc RVTI00NANNANNANNANNANNANNANNANNAN
94. Terra Energy & Resource Technologies, Inc TEGR0.880.880NANINF3.830INF33.970.34
95. RDX Technologies Corporation RGDEF1.381.381.062.06
96. Poseidon Concepts Corp POOSF14.1914.19
97. Raise Production Inc GLKFF1.341.340.631.081.311.5110
98. LianDi Clean Technology, Inc LNDT1.811.810.911.270.48
99. Genoil Inc GNOLFINFINF0.030.2425.160NANINF0.360NANNANNANNANNANNANNANNANNANNAN
100. Divestco Inc DSVTF0.910.911.42.491.861.542.751.280.730.70.70.961.010.81.130.510.870.8
101. Energy & Technology, Corp ENGT1.221.221.730.760.730.560.871.34
102. Tesla Exploration Ltd TXLZF1.351.351.860.870.910.760.68
103. Aly Energy Services, Inc ALYE2.312.310.60.431.331.180
104. Georgetown Corporation GTCPNANNAN
105. Enseco Energy Services Corp ENSRFNANNANNANINF1.810.07409.5110.91.531.961.160.930.791.35
106. Cal Dive International, Inc CDVIQ1.781.782.271.221.370.970.650.890.971.11
107. Questor Technology Inc QUTIF1.461.461.321.141.583.450.381.061.581.031.131.341.190.760.872.751.210