benefiting United States shale gas development in large outbreaks in 2010

High international oil prices, stimulate oil company continued to expand production, increased exploration and development. From this influence, oilfield technologies service market economy to improve. Transformed from equipment suppliers of oil and gas development-related technical services Jerry shares (002353, closed at $ 71.77), haitong securities believes that it will benefit from the progressive prosperity of unconventional oil and gas development in domestic market and the seaOutside the expansion in the market for technical services. Short-term benefit from complete fracturing equipment orders for Jerry shares the long-term growth of logic, haitong securities believes that overall, from a transition to integrated technology service providers, equipment vendors from several product and service transformation integrated products and services, the market potential is huge. From the development of products and services provided by the company, the company provides a range of products from the mostEarly pressure pumps the old republic power leveling, natural gas compression equipment swtor power leveling, liquid nitrogen fixation of equipment to expand to coiled tubing operations to downhole tools, providing technical services from the initial pumping operations, cuttings for reinjection of expanded business to cementing services, fracturing and acidizing, coiled tubing operations services and radial drilling services. With the gradual expansion of product range, the company of technology services gradually increased and service capabilitiesGradually built its technology services business market is expected to gradually turn. In addition, since fracturing equipment is key to shale gas development equipment, benefiting United States shale gas development in large outbreaks in 2010, 2011, haitong securities company's estimated fracturing equipment orders after the dramatic growth in the first half of 2010 and 2011, equipment deliveries will peak in 2011 and 2012 years to come, this will also constitute a company's short-term earnings growth momentum. Transition services are the key highlights of haitong securities believes that transformation service is a key aspect of the company, which will share a progressive prosperity of unconventional oil and gas development in domestic markets, overseas expansion of the technical services market. Penglai, while related technical service business suspension technology in 19-3 oilfield service sector revenues affect the short-term, Radial drilling, but as fracturing and acidizing, coiled tubing and other new services fast, technical service sector revenues are expected to gradually expand. Young successfully won the bid of the company on October 6 announcement made underground working oil company service marks the end of overseas marketing technology services achieved initial progress. Share the progressive prosperity of unconventional oil and gas development of the domestic market. According to United States energy informationDepartment of the 2011 world shale gas resources in a preliminary assessment of the report shows that world shale gas of recoverable resources of more than 200 trillion cubic feet of State of a total of nine, China has 1275 trillion cubic feet of recoverable resources ranked first in the world, followed by United States, and Argentina, and Mexico, and Australia, and Canada, and Libya, and Algeria and Brazil;Tube of shale gas resources in China has great potential, but mostly of shale gas resources in China belong to the continental, and non-United States Marine shale gas, exploration and development and capacity-building is quite difficult. In addition of coalbed methane in the mining industry is seen as risk factors, but as a kind of vast reserves of clean energy, coal-bed methane has a huge potential for development; developed coal-bed gas exploration and development technology matures, domesticCoal-bed gas development has been under way for several years. According to media reports, led by the National Energy Board developing shale gas and coalbed methane-related planning is expected to be released during the year, and PetroChina have Weiyuan drilling in Sichuan China first evaluation shale gas wells, and was gas fracturing. Subparagraph horizontal drilling and fracturing techniques are unconventional oil and gas development and key core technologies from the country technical services market developmentPoint of view, coal-bed gas fracturing progressively increases in demand, and radial drilling for shale gas development and paragraph fracturing services has great potential, the company relies on equipment and services, in the first-mover advantages are expected to share the progressive prosperity of domestic unconventional oil and gas development. Haitong securities company expects 2011 ~2013 year EPS at $ 1.77, 2.6 per cent and $ 3.19,'S closing price of $ 72.3 estimate, corresponding 2011 PE ~2013 years 40.8 times times, 27.83 times times and three times respectively, maintained a "buy" rating, 2012 by 30 times year PE for 6-month price target of $ 77.95. Haitong securities