Schlumberger's (SLB) - in Friday’s conference call, management communicated a few key points about the next few years of growth in world oil supply. They expect that production from the deepwater Gulf of Mexico will not even enter its development phase until 2015 . They also stated that simply maintaining current global hydrocarbon production levels in the face of accelerating decline rates will require enormous, persistent investment by all major producers. The world is realizing that the era of cheap oil has ended, and Schlumberger is preparing for a long boom. (SLB) is like the Proctor and Gamble in the oil rig field. You are always going to pay a premium for its stock but in the long run it is the one that will stay in business and make money for ever.
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Other more up and coming oil related stocks that have a greater potential for growth are
ESV - $48.66 with a PE of 11.66
NOV - $58.63 with a PE of 18.8
GRP - $37.22 with a PE of 12.28
The oil sector is going to be down for a while due to the major first move up has occurred in the cycle of a commodity bull market. Now the world has to digest the increase and let it work its price structure through for public acceptance. How many of you like the fact that gas is below $2.00 per gallon?
Now after awhile it wit start to go back up to the $3 and then $4 range and you will expect it.
Start watching for the oil sectors to bottom through the spring and nibble away at accumulating these stocks.