Secondary Recommendation

Gulf Marine Services - Oil & gas asset leasing group makes encouraging debut

May 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

One of the biggest issues facing the oil & gas industry is that over half the offshore platforms in the key Middle East North Africa (MENA) and NorthWest Europe regions are more than 20 years old. At the same time, in the absence of the huge oil discoveries that became the norm in the last century, there is growing pressure to extract more from existing reserves in order to prevent output from dwindling. Both these factors are playing into the hands of Gulf Marine Services (GMS), an asset leasing business, which operates a fleet of SESVs - self-propelled self elevated service vessels, essentially floating jack-up barges on four legs, which facilitate well intervention and maintenance. GMSâ€™s business model is the leasing out of thes ...

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