LONDON, February 21, 2013 /PRNewswire/ --
The U.S. is all set to become the world's largest oil producer by 2020 as forecasted by the International Energy Agency (IEA). As reported last month by the EIA, U.S. oil production surpassed the 7 million barrels per day mark, which is at the highest level in 20 years. By 2013, EIA expects U.S. oil production to reach 7.3 million barrels a day and to peak at 11.1 million barrels a day by the year 2020. These are very positive projections for the oil and gas equipment industry and giants like Baker Hughes Inc. (NYSE: BHI) and Cameron International Corp. (NYSE:CAM) which stand to gain immensely from the expected capital expenditure which will be incurred over the next 8 years. StockCall reviewed the solar industry and chose Baker Hughes and Cameron International for its technical coverage. These free reports can be seen for free at http://www.stockcall.com/signup
Baker Hughes to retain Process and Pipeline Services business
Baker Hughes is one of nation's leading suppliers of oilfield products, services, technology and systems to global players in the oil and natural gas industry. The company announced that it will retain its Process and Pipeline Services business and will be reclassified as continuing operations within the Industrial Services segment. Download the free research on Baker Hughes Inc. by signing up now at http://www.StockCall.com/BHI022113.pdf
As a service to the petroleum industry, Baker Hughes has been issuing rotary rig counts of drilling rigs actively exploring or developing oil or natural gas in United States, Canada and international markets. For January 2013, the company announced that international rig count was 1,279, offshore rig count was 307 and worldwide rig count was 3,539.
For the fourth quarter of 2012, the company reported Net Income of $211 million, or $0.48 per diluted share, on revenues of $5.22 billion. For full year 2012, the oilfield services major reported Net Income of $1.32 billion, or $3.00 per diluted share, on revenues of $20.93 billion.
Cameron reports stellar numbers for fourth quarter and full year of 2012
Cameron, being one of the leading providers of flow equipment products, systems and services to global oil, gas and process industries, reported exceptional overall business growth for full year of 2012. Revenues grew by over 22% to $8.5 billion and Income before taxes was $938 million, up by 44% over 2011. Full year order book stood at $10.9 billion, up by 39% over 2011. Register for today's free analysis on Cameron International Corporation at
Echoing the positive sentiment, Chairman and Chief Executive Officer Jack B. Moore said, "Both quarter and annual year-over-year revenue increases were due to double-digit revenue gains in all three of the Company's segments."
The fourth quarter aided the impressive performance for 2012 with Revenue of $2.4 billion and Income before taxes of $273.4 million, recording growth of over 20% and 117% over fourth quarter of 2011. The last quarter added a record $3.4 billion to the company's order book.
Moore expects Cameron's 2013 earnings to be in the range of $3.70 to $3.95 per diluted share, excluding charges. "Our 2013 earnings are expected to be another record. Earnings for the year will ultimately be influenced by the level of North American activity as well as our ability to execute on our order backlog."
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