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  1. STEP Energy Services and Forum Energy Technologies are competing in the specialized energy services market, operating in the US and internationally.

Forum Energy Technologies Targets Growth in Upstream Oil and Gas Sector

1 report, 1 independent Updated Sat 00:00
AI-generated briefing. Brind wrote this from the reports listed below and has updated it as the story developed. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Forum Energy Technologies detailed its strategy during the Water Tower Research Virtual Insights Conference, aiming for significant revenue, EBITDA, and free-cash-flow growth through 2030. The company stated that its strategy focuses on market share gains, product innovation, and international expansion. The company manufactures products and technology for upstream oil and gas customers, with 80% of its revenue tied to activity-based, recurring demand.

From themarketsdaily.com

Why it matters

Some supportBrind's analysis of the reports

The company noted that revenue increased by about 11% in the first half of the year while the global rig count remained flat. Since adopting its current strategy in 2022, revenue per rig has increased by about 34%. Leadership markets, including coiled tubing and subsea remotely operated vehicles, accounted for two-thirds of 2025 revenue.

STEP Energy Services and Forum Energy Technologies are competing in the specialized energy services market, operating in the US and internationally.

From themarketsdaily.com

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