It looks as though an overall weak exploration program in 2012 will be changing in 2013. Capital expenditure budgets for exploration and production are expected to reach over $644 billion, according to a Barclays report out this week. Does this mean good things all around for the oil services industry? Today, Fool.com contributor Tyler Crowe and Motley Fool analyst Joel South look at some of the finer details in this report and assess what it could mean for some companies in this space.
National Oilwell Varco is perhaps the safest investment in the energy sector due to its industry-leading 60% market share and its international presence. This company is poised to profit in a big way; its customers are both increasing the number of new drilling rigs as well as updating an aging fleet of offshore rigs. To help determine if NOV is a nice fit for your portfolio, check out our premium research report with in-depth analysis on whether NOV is a buy today. For instant access to this valuable investor's resource, simply click here now and claim your copy today.