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US Oil & Gas Equipment & Services Stocks: Leading US Oil & Gas Equipment & Services Companies in 2026

The US oil and gas field services industry is valued at $127.2 bn in 2026, even as it has contracted at an 8.4% annual pace since 2021 amid a multi-year pullback in domestic drilling. The US oil-directed rig count has fallen roughly 33% since December 2022, even as global oilfield services spending keeps growing on the back of resilient international and offshore activity. In this article, we will be covering all the US oil & gas equipment & services stocks that might benefit from this environment, along with an overview of the top oilfield services companies.

List of US Oil & Gas Equipment & Services Stocks in 2026

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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Overviews of Top US Oil & Gas Equipment & Services Stocks

Schlumberger NV

SLB, formerly known as Schlumberger, was founded in Paris in 1926 by brothers Conrad and Marcel Schlumberger as an electrical prospecting company, and it recorded the industry's first well log the following year. The company later built its commercial centre of gravity around Houston as the US oil industry grew, while keeping executive offices across Paris, London and The Hague. SLB is now the world's largest oilfield services provider, offering drilling, reservoir characterisation, production and digital technology to oil and gas operators worldwide.

Baker Hughes Co

Baker Hughes traces back to two separate inventions: Reuben C. Baker's 1907 casing shoe, which improved well casing installation, and Howard Hughes Sr.'s 1908 roller-cone drill bit, developed with Walter Sharp. The two lineages merged in 1987 to form Baker Hughes Incorporated, which then combined with GE's oil and gas business in 2017 before GE fully divested its stake by 2021. The company now supplies oilfield equipment and services alongside gas turbines and other industrial and energy technology.

Halliburton Company

Halliburton was founded in 1919, when Erle P. Halliburton started an oil-well cementing business in Burkburnett, Texas, with a borrowed wagon, a team of mules and a pump. The company was renamed Halliburton Oil Well Cementing Co. in 1920 and later became simply the Halliburton Company in 1961. It is now one of the world's largest oilfield services providers, supplying drilling, completion, cementing and production services, with a particularly large share of the hydraulic fracturing market.

Tenaris SA ADR

Tenaris was formed in 2002 as a Luxembourg holding company that consolidated three long-established steel pipe makers, Dalmine of Italy, Siderca of Argentina and Tamsa of Mexico, all controlled by the Rocca family's Techint Group. The combined business supplies seamless and welded steel pipe used for drilling and completing oil and gas wells, known as oil country tubular goods. Tenaris expanded further into the US market through its 2006 acquisition of Maverick Tube Corporation.

TechnipFMC PLC

TechnipFMC was formed in January 2017 through the merger of Technip, a French engineering and construction group founded in 1958, and FMC Technologies, a US-based subsea equipment maker. The combined company spun off its onshore and offshore engineering business as a separate company, Technip Energies, in 2021, leaving TechnipFMC focused on subsea production systems and surface wellhead equipment. It now supplies integrated subsea and surface technology to oil and gas operators worldwide.

What are US Oil & Gas Equipment & Services Stocks?

US oil & gas equipment & services stocks are shares of US-listed companies that supply the equipment, technology and field services used to explore for, drill and produce oil and gas, rather than owning oil and gas reserves themselves. This includes companies that provide drilling, completion and production services, manufacturers of drill bits, subsea equipment and steel tubulars, and providers of digital and reservoir technology. These companies generate revenue from service contracts, equipment sales and rentals, tied closely to how much oil and gas producers spend on exploration and production activity.

How to Evaluate and Invest in US Oil & Gas Equipment & Services Sector Stocks?

Here's how to invest in the US oil & gas equipment & services stock market from India, step by step:

  1. Log in or Create an Account: Visit Tickertape US Stocks and log in to your account. Create an account if you have not registered yet and complete the US investing account-opening process.
  2. Search for Oil & Gas Equipment & Services Stocks: Use the Tickertape US Stock Screener and select 'Oil & Gas Equipment & Services' under the sector filter.
  3. Analyse the Stocks: Each stock page provides information such as the live market price, 52-week range, financial performance, peer comparison and recent news.
  4. Add Money to Your US Wallet: Connect an eligible bank account and transfer money to your US Wallet under the Liberalised Remittance Scheme.
  5. Place Your Order: Select the oil & gas equipment & services stock you want to invest in and click on 'Buy' to place the order through Tickertape.

Taxation of US Oil & Gas Equipment & Services Stocks for Indian Investors

The tax treatment of US oil & gas equipment & services stocks generally depends on the holding period, the investor's applicable income-tax rate and US withholding rules on dividend income.

Income / ActionHolding Period / ConditionTax Rate in the USTax Rate in India
Long-Term Capital Gains (LTCG)Held for > 24 months0% (Taxed only in India under DTAA)12.5% (+ applicable surcharge & cess)
Short-Term Capital Gains (STCG)Held for < 24 months0% (Taxed only in India under DTAA)Taxed as per your applicable income slab rate

Advantages of Investing in US Oil & Gas Equipment & Services Stocks

Large Global Market

The global oilfield services market is valued at $215.01 bn in 2026 and is projected to reach $265.79 bn by 2030, growing at a 5.4% CAGR. This gives large service providers exposure to drilling and production activity across multiple regions.

International Demand

North American exploration and production spending is expected to decline in 2026, while international spending remains more stable and Middle East capital expenditure continues to grow. Companies with strong overseas and offshore operations can therefore reduce their dependence on the US onshore market.

Digital Services Growth

Oilfield service companies are expanding into automation, software and digital production tools. These businesses can generate more recurring revenue and often carry higher margins than traditional project-based services.

Natural Gas Demand

US natural gas production is expected to rise as LNG export capacity expands and drilling remains active in gas-focused regions such as the Haynesville. This creates demand for drilling, completion and production services beyond the crude oil market.

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Risks of Investing in US Oil & Gas Equipment & Services Stocks

Lower US Drilling

US oil drilling activity has fallen from recent highs, while North American exploration spending is expected to remain under pressure. Fewer active rigs can reduce demand for drilling equipment, completion services and other oilfield products.

Weak Oil Prices

A well-supplied global oil market can keep crude prices under pressure. Prolonged price weakness may lead producers to delay projects or reduce exploration and production spending.

Capital Discipline

Oil and gas producers have become more focused on dividends, buybacks and debt reduction instead of rapidly increasing drilling. This can limit demand growth for oilfield services even when commodity prices improve.

Smaller Domestic Market

The US oilfield services industry has faced consolidation and lower activity in recent years. Companies that depend heavily on the domestic market may therefore have fewer growth opportunities than those with broader international exposure.

Factors to Consider Before Investing in US Oil & Gas Equipment & Services Stocks

Drilling Activity

Active rig counts affect demand for drilling, completion and production services. Higher drilling activity generally supports equipment orders and service revenue, while fewer rigs can reduce demand.

Energy Prices

Oil and natural gas prices influence how much producers are willing to spend on exploration and new projects. Sustained price weakness can lead to lower budgets and fewer orders for service companies.

Regional Spending

Oilfield activity can move differently across regions. Growth in markets such as the Middle East or offshore fields can offset weaker activity in North America, making geographic exposure an important factor in company performance.

Technology Adoption

Greater use of automation, software and digital tools can increase demand for higher-margin technology services. These revenue streams can also provide more recurring income than traditional project-based work.

Key Growth Drivers for US Oil & Gas Equipment & Services Stocks

International and Offshore Spending

Rystad Energy expects international and offshore upstream investment to grow by around 5% in 2026, while North American investment is forecast to decline. This makes overseas and offshore markets an important source of demand for equipment and service providers.

Deepwater Activity

Around 60% of the high-impact exploration wells planned globally for 2026 are expected to be in ultra-deepwater areas. Long-cycle deepwater projects require drilling rigs, subsea systems, well construction and production equipment, creating sustained demand for specialised service companies.

Digital Adoption

Oilfield companies are increasingly using automation, AI and cloud-based software to improve drilling and production. SLB reported that its digital revenue rose 9% in 2025, supported by greater use of automated and cloud-based solutions, while much of its platform revenue is recurring.

LNG-Linked Gas Growth

US LNG exports averaged 17.4 Bcf/d in the first half of 2026, up 23% year-on-year. The EIA also expects Haynesville gas production to rise 9% in 2026, supported partly by its proximity to Gulf Coast LNG terminals. Higher gas production and export capacity can support demand for drilling, completion and production services

How to Track US Oil & Gas Equipment & Services Stocks From India on Tickertape?

You can track US oil & gas equipment & services stocks and ETFs from India on Tickertape's US Stocks & ETFs platform.

  1. Open US Stocks Screener: Visit the Tickertape US Stock Screener and explore oilfield services-related companies listed on US exchanges.
  2. Search Oil & Gas Equipment & Services Stocks: Search for "Oil & Gas Equipment & Services" under the sector and select it to explore companies operating in the oilfield services industry.
  3. Apply Filters: Compare companies using 60+ parameters, including market capitalisation, valuation ratios, profitability metrics, growth indicators and financial health measures.
  4. Analyse Company Metrics: Review individual stock pages to understand financial performance, revenue trends, margins, debt levels, price movements and other available insights.
  5. Create a Watchlist: Add selected oil & gas equipment & services stocks to your watchlist to track price updates, company developments and performance changes from India.

Conclusion

US oil & gas equipment & services stocks span diversified oilfield service providers, equipment and tubular manufacturers, and subsea and integrated project specialists that supply the industry's drilling and production activity. Their performance is shaped by rig counts and drilling activity, crude oil and natural gas prices, regional capital allocation, and the pace of technology adoption. Key risks include the ongoing US onshore drilling pullback, global oil oversupply, a structural shift toward operator capital discipline, and a contracting domestic services industry. Investors looking to analyse oilfield services companies can use the Tickertape US Stock Screener to compare stocks using 60+ unique filters and custom filters across valuation, profitability, growth, financial health and other key metrics.

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Frequently Asked Questions on US Oil & Gas Equipment & Services Stocks

  1. What are US oil & gas equipment & services stocks?

    US oil & gas equipment & services stocks are shares of US-listed oil services companies that supply the equipment, technology and field services used to explore for, drill and produce oil and gas, rather than owning oil and gas reserves themselves. This includes diversified oilfield service providers, equipment and tubular manufacturers, and subsea and integrated project specialists. These companies earn revenue from service contracts and equipment sales tied to how much producers spend on exploration and production.

  2. Who are the top 5 oil & gas equipment & services companies?

    As of 16th September 2026, the top 5 oil services companies include:
    1. Schlumberger NV
    2. Baker Hughes Co
    3. Halliburton Company
    4. Tenaris SA ADR
    5. TechnipFMC PLC


    Disclaimer: The above list of oil service companies' stocks is for educational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before investing.

  3. What is the outlook for US oil & gas equipment & services stocks?

    The outlook is mixed: the global oilfield services market is projected to grow from $215.01 bn in 2026 to $265.79 bn by 2030, but that growth is unevenly spread. North American exploration and production spending is projected to decline 4.2% in 2026 as the US oil-directed rig count remains roughly 33% below its December 2022 level, while Middle East capital expenditure is projected to grow 5% and international spending outside Russia is expected to hold roughly steady. Companies with larger international, offshore and digital businesses appear better positioned than those focused mainly on US onshore drilling.

    Disclaimer: This information is for educational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before investing.

  4. Are US oil & gas equipment & services stocks risky for Indian investors?

    Alongside the usual currency and regulatory risks of holding US shares, this sector carries direct exposure to oil and gas prices and producer capital spending cycles. Forecasters project a global oil market surplus of more than 2 million barrels per day in 2026, and US onshore drilling activity has already pulled back sharply, which together can weigh on order books and pricing for companies most exposed to US onshore work.

  5. How can I compare US oil & gas equipment & services stocks on Tickertape?

    Investors can use the Tickertape US Stock Screener to compare these stocks on metrics such as revenue growth, profit margins, valuation ratios and dividend yield. Since exposure to US onshore, international and offshore markets varies significantly between companies, it also helps to check each company's geographic revenue mix on its individual stock page.

  6. Can beginners invest in US oil & gas equipment & services stocks?

    Beginners can invest in these stocks by opening a US investing account on a platform like Tickertape. It helps to first understand that this sector is cyclical and closely tied to producer spending on exploration and production, and that companies with larger international or offshore businesses have generally been more resilient than those concentrated in US onshore drilling.

    Disclaimer: This information is for educational purposes only and does not constitute investment advice. Investors should assess their financial goals and risk tolerance or consult a financial advisor before investing.

  7. How to invest in US oil & gas equipment & services stocks from India?

    1. Create an Account: Sign up on a platform like Tickertape that offers US investing from India.
    2. Explore Oil & Gas Equipment & Services Stocks: Use the US Stock Screener to shortlist diversified service providers, equipment manufacturers and subsea specialists.
    3. Complete KYC: Submit the required identity and documentation to open a US investing account.
    4. Link a Bank Account: Connect an eligible Indian bank account to fund your US investing wallet.
    5. Add Funds: Remit money to your US Wallet under the Liberalised Remittance Scheme.
    6. Place an Order: Select the oil & gas equipment & services stock you want to invest in and place your buy order.

  8. What are the advantages of investing in US oil & gas equipment & services stocks?

    Advantages include exposure to a large and still-growing global oilfield services market, along with resilient international and offshore spending that can offset weakness in US onshore drilling. Growing digital and automation revenue at larger service providers also offers a higher-margin, more recurring income stream alongside traditional project-based service work.

    Disclaimer: This information is for educational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before investing.

  9. What is the difference between individual US oil & gas equipment & services stocks and energy-focused ETFs?

    Individual oilfield services stocks let investors choose a specific business model, such as a diversified global service provider or a subsea equipment specialist, based on their own view of that company's regional exposure. An energy-focused ETF spreads investment across many companies, including oil and gas producers as well as service providers, reducing single-company risk but diluting exposure to this specific, more cyclical part of the energy value chain.

  10. What metrics are commonly used to evaluate US oil & gas equipment & services stocks?

    Investors commonly look at rig count trends, order backlog, and the geographic split of revenue between US onshore, international and offshore markets, since these show how exposed a company is to the current uneven spending environment. Operating margin and free cash flow are also closely watched, since capital-intensive equipment businesses can see sharp swings in profitability as activity levels change.

    Disclaimer: This information is for educational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before investing.

  11. Do US oil & gas equipment & services stocks pay dividends?

    Several large, established oilfield services companies pay regular dividends, supported by free cash flow generated across their global operations. Payouts in this sector tend to be more cyclical than in less volatile industries, since profitability is closely tied to producer spending cycles that can shift quickly with oil and gas prices.

    Disclaimer: This information is for educational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before investing.

  12. What is the S&P Oil & Gas Equipment & Services index?

    The S&P Oil & Gas Equipment & Services index tracks US-listed companies that provide equipment and services to the oil & gas equipment & services industry, such as drilling, well completion, production support and oilfield technology. The S&P 500 Oil & Gas Equipment & Services segment is commonly used to understand how this part of the energy sector is performing relative to the broader market.

Disclaimer: This article is for informational purposes only. The content of the article, including securities/investment products mentioned, if any, should not in any manner be construed as investment advice, recommendation, offer, or solicitation to buy/hold/sell any securities/investment products. The securities quoted, if any, are for illustration only and are not recommendatory. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.