In many markets, it is the end producers who get all the attention. The smaller companies that make the “big boys” look good rarely get any attention. These companies make the market go when the oil and ooze start coming out of the machines. Looking a bit deeper into a high-flying market may just turn up some investment opportunities that gush profit opportunity.

OMNI Energy Services Inc., an oil and gas services company, offers a full range of oil and gas field services primarily in the on/off Gulf Coast, Midwest and Rocky Mountain energy regions. The company offers its services through seismic drilling, transportation, environmental services and equipment leasing divisions. Although seismic drilling is a leading driver of the company’s business, it does have a solid footing in the environmental aspects associated with oil and gas drilling.

In the first quarter, the company found poor weather among its low-lying areas and marsh contracts, which slowed revenue growth. Even so, the company was able to report that its overall position was not affected to the extent possible. It feels that the working out of weather concerns often associated with the first quarter, and the addition of new rental equipment, will more than offset any shortcomings.

The company’s environmental services division is finding benefit from the resurgence of re-opened oil wells in many of its regions. This division works to remove contaminated fluids and clean equipment onsite for efficient operation. Whether offshore rig cleaning or removing waste drilling fluids, environmental services for oil and gas operations are performing to expectation and expected to contribute to increases in the future.

As the oil and gas industry continues to take advantage of current market run-ups, the associated need for non-operational elements of drilling will continue to be addressed and mitigated. Taking advantage when the price is ripe is the way to profit in this area. Energy Services is right in the middle of a market trend that is likely to be around for some time to come. For those that want a piece of the action, this may be a less-noticed field to get wet in.

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