Superior Energy Services (SPN) operates in the North American land side with a broadly diversified services portfolio, and the combination of financial metrics, historical performance and exposure to the U.S. GOM may provide investors with some relief as distress may come in 2013, says John Keller, Vice President in Equity Research at Stephens Inc.
“On the North American land side, we like Superior Energy Services,” Keller said. “It’s a broadly diversified service company in North America land, probably best known for their pressure pumping, coil tubing assets and a little bit of offshore. They’ve also got a small international footprint.”
Keller says that, although the North American land market is suffering from pricing pressures due to increase drilling efficiencies, companies like SPN are an option investors can partake in with some comfort.
“With the challenging environment that we see in North America, we think that the combination of valuation, leverage to the U.S. Gulf of Mexico, quality management team and a pretty good operational track record sets them up nicely as a company you can be comfortably invested for a somewhat uncertain and potentially tough environment through 2013,” Keller said.
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