Precision Drilling and Oceaneering International Compete in Energy Services Market
What happened
Precision Drilling and Oceaneering International are two energy companies competing for market share in the Middle East and North America. An independent report contrasted the two companies on various business metrics, noting that Oceaneering International has higher revenue and earnings than Precision Drilling. The report also detailed that Oceaneering International has a beta of 1.17, while Precision Drilling has a beta of 0.81.
From dailypolitical.com
Why it matters
The competition between the two companies is taking place in the energy services sector. This rivalry is occurring while both companies are involved in operational projects in regions like the Middle East and North America.
From dailypolitical.com
Who's involved
- Precision DrillingEnergy company involved in competition and has analyst coverage.
- Oceaneering InternationalEnergy company involved in competition and operates in various international jurisdictions.
- Raymond James FinancialFinancial services firm that provides analyst coverage for Precision Drilling.
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The entities involved
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Precision Drilling
largest drilling rig contractor in Canada
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Oceaneering International
company