The 2013 All-America Research Team: Oil Services & Equipment, No. 1: James West

Barclays analyst James West debuted at No. 3 in 2011, rose to No. 2 last year and now completes his direct climb to the summit.

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James West
Barclays

First-place appearances: 1

Total appearances: 3

Analyst debut: 2011

Barclays analyst James West debuted at No. 3 in 2011, rose to No. 2 last year and now completes his direct climb to the summit. He “maintains a rapport with public company managements, private companies in the space and industry experts,” praises one booster. West, 35, is bullish on the sector, maintaining that “exploration and production spending trends will remain strong, and that there’s considerable upside out to 2015, particularly in the international market,” where he believes outlays will outstrip those in North America. He forecasts a ramp-up in some OPEC countries as they look to secure oil supplies and increase domestic capacities, as well as ongoing proliferation of deepwater drilling on a global basis. West reports seeing healthy activity in Iraq, Kuwait, Oman and Saudi Arabia, as well as in Russia and the North Sea. He’s growing more bullish on Southeast Asia and shale plays in China, and expects a rebound in parts of Latin America, like Mexico and Venezuela, next year. He names Houston-based Schlumberger his top pick, crediting its overseas exposure. His midcap favorite is Covington, Louisiana’s Hornbeck Offshore Services, which operates mostly in the Gulf of Mexico. In 2000, after earning a bachelor’s degree in economics at the University of North Carolina at Chapel Hill, West joined Lehman Brothers, whose North American operations Barclays acquired in 2008. — Carolyn Koo

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