Gabelli Funds Senior Analyst Simon Wong in The Wall Street Journal

Energy Investors are Finding Gains Offshore and Abroad

The hottest stocks in the oil patch lately belong not to producers of energy but to some of the firms that provide equipment and services to extract oil and gas.

Offshore drilling-rig owner Transocean is up 54% this year while Weatherford International , Oil States International and TechnipFMC have each gained at least 25% in 2023. Those gains come as the broader energy sector has slumped after two years atop the S&P 500 leader board.

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