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Service Companies Face Competitive 2014, But E&P Spending May Help

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By Darren Barbee, Hart Energy
January 17, 2014

The service and supply sector has been bruised and buffeted in the past couple of years. In 2012, service companies suffered sinking natural gas prices and faltering pressure-pumping rates.

In 2013, E&P spending was so-so, with widely varying surveys indicating spending was up 4% or plummeting by as much as 3.2% from the previous year.

Regardless of these negatives, in 2014, more money will be spent. How much? A Barclays Capital (NYSE: BCS) survey estimates U.S. E&P spending could spike 8.5%. A Cowen and Co. survey reported a 5.3% increase ...

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