Halliburton and Baker Hughes
This is a no brainer of course, there is no doubt the decision to allow more drilling off the Coasts of the U.S. by Obama will be a big boost to exploration companies like Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI).
Oil drilling companies like Atwood Oceanics (NYSE:ATW) and Transocean (NYSE:RIG), and others like them, should benefit as oil and gas resources are discovered.
Assuming they were part of the action, other types of companies which would probably profit from it are Devon Energy (NYSE:DVN) and EOG Resources (NYSE:EOG).
Some are trying to say certain parts of the coastlines being released for drilling won't produce much in the way of oil and gas, but that's simply speculation and wishful thinking.
We have no idea how much may be out there, and until the exploration and drilling takes place, we won't have an answer.
These are of course long-term plays, but something to keep in mind as the exploration and drilling gets underway in the years ahead.
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