Few sectors, if any, have been hit as hard as oil services from the decline in Brent crude prices. The contraction of Enteq Upstream’s (NTQ) share price mirrors the fall in the underlying assets; a 60 per cent drop in seven months.
IC TIP:
Hold
at
15.25p
The bad news doesn’t end there. The subsequent fall-away in oil & gas capital budgets, particularly with regard to Enteq’s North American customer base, has prompted the company to issue a warning that reported sales for the year ending 31 March 2015 will be substantially below both current expectations and those achieved in 2014.
