Goldman Rebrands Fracking Research as Green Shift Accelerates
- Analysts see changes afoot among hired hands of the oil patch
- Energy transition, digital services offer contractors growth
Photographer: Ty Wright/Bloomberg
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Goldman Sachs Group Inc. is taking the “oil” out of oil services, rebranding its coverage of drilling and fracking providers in the latest sign of the energy industry’s shift away from fossil fuels.
“We are renaming our coverage to ‘Energy Services,’” Goldman analysts including Neil Mehta wrote Thursday in a note to investors. “We believe investors should evolve the framework of evaluating this sector from ‘traditional oil services’ to ‘energy services’ to better capture emerging drivers of long-term growth.”