Keeping a positive perspective in these economic times is critical. Where the rubber meets the road - as it were - is where profit is to be made. Some segments of the market have been beat down, but are not out. Keeping an eye on these markets is where the profit will show up first.
Enseco Energy Services Corporation, an oil and gas services company, works to assess older existing oil and gas wells for future production potential. Although challenged by current conditions, the company has reported solid relative results as directional drilling and the company’s fleet of service vehicles finds a new footing.
As one might suspect, the oil and gas markets have been undergoing challenges during the current economic climate. Enseco Energy Services, however, has been able to keep pace with the more popular testing of older wells and directional drilling. Although the company has been keeping pace, they have been finding the same difficulties that the majority of the market has been facing. Finding creative and productive solutions, in a difficult economic environment, the company has found solid successes with its directional drilling program. This particular product offering may well bring the company back to a leading position more quickly than others.
The US governments’ commitment to energy, in its many forms, should put the company in a positive position. Re-opening closed wells has been a profitable venture, albeit only for those companies that find wells with solid potential. Enseco Energy has been able to offer a service that enables companies to achieve profitable production goals. The company’s rig fleet is superior to many in this market and appears ready to keep pace in a soon to be fast growing services market.
The company’s offering of directional drilling services merely enhances its revenue stream and should also enhance bottom line profitability. As a battered US energy sector begins to regain its footing in a new economy, Enseco Energy should be at the forefront with services and a directional drilling program designed to find and profit from resources once thought depleted.
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