Are rising energy prices an upbeat sign that demand for oil and natural gas services, from construction of rigging to actual drilling, will show a pickup in activity in coming months? Investors think so, having driven the share price of BJ Services Company (BJS-$16.80) up more than 60 percent in less than a month. However, the earnings report filed for the quarter ended March 31 by this leading provider of pressure pumping (and other oilfield services to the petroleum industry worldwide) suggests the market valuation may be getting frothy, for more doom and gloom could lay ahead for the company and its peers in the oilfield services industry... Read More…Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
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