As the world turns to cleaner forms of energy, companies in the oilfield services sector (OFS) are emerging as what analysts are calling “enablers of the transition.”

“The OFS companies are uniquely positioned because of their technology prowess, their reservoir knowledge and their ability to perform at scale,” said James West, senior managing director of oilfield services for Evercore ISI. “Reservoir knowledge is especially important in geothermal and carbon capture utilization and storage.”

Speaking during Evercore’s Global Energy Outlook on March 23, talk among the firm’s analysts briefly turned to the clean energy transition and how some service companies are embracing the change by adjusting their business models to the evolving energy landscape.

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