Oilfield Services More Bullish Following Oil Price Jump

The recent oil price jump could create further momentum for service sector margins, according to Rystad Energy. Sixty percent of the top 50 oilfield service (OFS) contractors already improved margins and increased operational efficiency in the first half of 2019. On average, the peer group recorded an EBITDA margin of 15.2% in the first six months of the year, compared to 14.6% in the same period last year. “This is a pleasant trend within the upper echelon of the oilfield service industry after years of misery,” says Lein Mann Hansen,…