Oil and gas producers won’t be the only big winners in South America. Not only is there a great need for contract drillers like Seadrill Ltd (NYSE:SDRL) and logistics providers like Buckeye, but the industry needs oil-field services companies like Halliburton Company (NYSE:HAL) to assist in getting that oil out of the ground. Halliburton has been investing to grow its business in South America and recently opened a new technology and innovation center in Brazil to help the country develop its resources. Not only that, but the company just provided completion services to the largest shale well drilled in Argentina. Overall, its Latin American revenue grew 21% year over year while offering the company a vast opportunity to capture more growth in the future. This makes Halliburton one of the best overall stocks to buy when looking to invest in worldwide oil and gas production growth.
Final Foolish thoughts
There are a lot of potential winners as South America begins to produce more oil. If you want to play both Argentina and Brazil then the name you may want is Halliburton. Not only is it investing in technology and innovation in Brazil, but the company is also a leader in fracking technology. This makes it one of the best stocks to buy for an investor looking for the key to helping Argentina unlock its shale resources.
The article Best Stocks to Buy for the Coming South American Oil Boom originally appeared on Fool.com and is written by Matt DiLallo.
Matt DiLallo has the following options: Short Jul 2013 $35 Puts on Seadrill. The Motley Fool recommends Halliburton, Petroleo Brasileiro (NYSE:PBR) S.A. (ADR), and Seadrill. The Motley Fool owns shares of Seadrill.
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