Oil and gas equipment and services is a massive and lucrative industry that provides equipment, components, other supplies, and professional services to companies engaged in oil & gas exploration and production (E&P).
Though the commodity prices don’t directly impact the equipment and services companies, they are indirectly affected. The performance of oil and gas equipment and services companies largely depends on the performance of E&P companies. Let’s look at the ten biggest oil and gas equipment and services companies.
We have used the latest revenue numbers to rank the ten biggest oil and gas equipment and services companies in reverse order. For our list, we have only considered Fortune 1000 companies.
10. ProPetro Holding (>$2 billion)
Founded in 2005 and headquartered in Midland, Texas, this company deals in hydraulic fracturing and other complementary services. ProPetro Holding (NYSE:PUMP) has the following business segments: Coil Tubing, Hydraulic Fracturing, Cementing, Flowback and Drilling. The company’s shares are up over 47% YTD but are down almost 1% last year. ProPetro employs more than 1,500 people.
9. CrossAmerica Partners (>$2 billon)
Founded in 2011 and headquartered in Allentown, Pa., this company deals in the wholesale distribution of motor fuels and owning and leasing of real estate that helps in the retail distribution of motor fuels. CrossAmerica Partners (NYSE:CAPL) has the following business segments: Wholesale and Retail. The company’s shares are up over 5% YTD and over 14% last year. CrossAmerica Partners employs more than 500 people.
8. Patterson-UTI Energy (>$2.4 billion)
Founded in 1978 and headquartered in Houston, this company offers onshore contract drilling services to oil and natural gas operators. Patterson-UTI Energy (NASDAQ:PTEN) has the following business segments: Pressure Pumping Services, Directional Drilling Services, and Contract Drilling Services. The company’s shares are up almost 60% YTD and over 70% in the last year. Patterson-UTI Energy employs more than 5,000 people.
7. Helmerich & Payne (>$2.7 billion)
Founded in 1920 and headquartered in Tulsa, Okla., this company deals in contract drilling of oil and gas wells. Helmerich and Payne (NYSE:HP) has the following business segments: Offshore Gulf of Mexico, North America Solutions, International Solutions, and Other. The company’s shares are up over 44% YTD and over 14% last year. Helmerich & Payne employs more than 8,000 people.
6. NOW (>$2.9 billion)
Founded in 2013 and headquartered in Houston, this company deals in distributing energy products for industrial applications. NOW (NYSE:DNOW) has the following geographical segments: United States, Canada, and International. The company’s shares are up over 8% YTD but are down over 16% last year. NOW employs more than 4,000 people.
5. Sprague Resources
Founded in 1870 and headquartered in Portsmouth, N.H., this company deals in purchasing, storing, distributing, and selling refined products and natural gas. Sprague Resources (NYSE:SRLP) has the following business segments: Materials Handling, Refined Products, Natural Gas, and Other Operations. The company’s shares are up over 26% YTD but are down over 22% last year. Sprague Resources employs more than 700 people.
4. MRC Global
Founded in 2006 and headquartered in Houston, this company deals in distributing pipes, fittings, valves, and related products and services. MRC Global (NYSE:MRC) serves energy, industrial, and gas utility end-markets and has the following business geographical segments: U.S., Canada, and International. The company’s shares are up almost 44% YTD and over 10% last year. MRC Global employs more than 3,000 people.
3. NOV (>$8 billion)
Founded in 1862 and headquartered in Houston, this company offers equipment and technology to the upstream oil and gas industry. NOV (NYSE:NOV) has the following business segments: Completion and Production Solutions, Rig Technologies, and Wellbore Technologies. The company’s shares are up almost 25% YTD and over 8% last year. NOV employs more than 34,000 people.
2. Halliburton (>$22 billion)
Founded in 1919 and headquartered in Houston, this company provides services and products to the companies engaged in the exploration, development, and production of oil and natural gas. Halliburton Company (NYSE:HAL) has the following business segments: Completion and Production and Drilling and Evaluation. The company’s shares are up over 42% YTD and over 41% last year. Halliburton employs more than 50,000 people.
1. Baker Hughes (>$23 billion)
Founded in 1987 and headquartered in Houston, this company deals in oilfield products, services, and digital solutions. Baker Hughes (NYSE:BKR) has the following business segments: Turbomachinery & Process Solutions (TPS), Oilfield Services (OFS), Oilfield Equipment (OFE), and Digital Solutions (DS). The company’s shares are up almost 27% YTD and over 20% last year. Baker Hughes employs about 68,000 people.