Investor Alert: Six Companies Worth Keeping An Eye On, #1 & 2 – TGS-Nopec and Wavefield-Inseis of Norway
Submitted by New Energy News Blog
They keep coming at investors from every country – energy companies, big and small, whose prospects appear bright enough for investors to keep a close eye on. EnergyTechStocks.com doesn’t claim to know them all, but here are another six – two each from Norway and Canada and one each from Belgium and the United States – that we think are starting to look particularly interesting, beginning with:
TGS-Nopec Geophysical Company ASA and Wavefield-Inseis ASA, two Norwegian companies that trade on the Oslo exchange.
Some investors may recognize that these two marine geophysical companies are rivals and that TGS-Nopec has for a while now been attempting a less-than-friendly acquisition of Wavefield. The other day TGS-Nopec’s board recommended to shareholders that the bid be dropped, thus likely leaving investors with not one but two companies whose prospects look to be exceedingly bright, thanks to oil and gas companies’ frenetic search for new fields, which requires seismic and other technical services provided by companies like TGS and Wavefield.
Indeed, “We expect the next two to three years to present the most favorable market conditions we have ever experienced for our products and services,” TGS recently said. Meanwhile, Wavefield just reported second quarter net income and revenue triple that of a year ago, or $21.1 million and $93 million, respectively. Wavefield also reportedly has the highest order backlog for geophysics work in the company’s history ($304 million). Its order book includes what has been described as one of the biggest three-dimensional (3D) data collection projects to be performed by BP (British Petroleum) off the coast of Libya.
