Saudi drilling boom lifts service firms

摘要

Higher Middle Eastern drilling activity led by Saudi Arabia is underpinning the profitability of the oil services sector in the face of a slump in US gas drilling. Saudi drilling is helping to drive profit gains at Schlumberger, Baker Hughes and Halliburton. With Riyadh expanding oil spending and exploiting its unconventional natural gas reserves, the Middle East and Asia-Pacific region has become the fastest-growing area for service firms.