Oil Services Stocks: Drilling for Values Amid M&A Activity (BP)

Valuations within the industry have gone from cheap to dirt-cheap.

Needless to say, the BP ADR (NYSE: BP) oil spill did some serious damage…

It continues to create havoc for marine life and human livelihood. And it has sent stocks in both the offshore drilling and oil services industries plummeting. That much is obvious.

But few people realize that the offshore drilling industry was in trouble well before the rig ever blew.

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