Zacks Industry Outlook Highlights: Statoil ASA, Core Laboratories N.V., Baker Hughes, FMC Technologies and Cameron International

For Immediate Release

Chicago, IL – October 20, 2011 – Today, Zacks Equity Research discusses the Oil & Gas, including Statoil ASA (STO - Analyst Report), Core Laboratories N.V. (CLB - Analyst Report), Baker Hughes Inc. (BHI - Analyst Report), FMC Technologies Inc. (FTI - Analyst Report) and Cameron International Corp. (CAM - Analyst Report).

A synopsis of today’s Industry Outlook is presented below. The full article can be read at  http://www.zacks.com/stock/news/63007/Oil+%26amp%3B+Gas+Stock+Outlook+-+Oct.+2011

We are positive on Norway-based major international integrated oil and gas producer Statoil ASA (STO - Analyst Report). The company has operations in all major hydrocarbon-producing regions of the world, with an emphasis on the Norwegian Continental Shelf (NCS).

We believe that Statoil is well positioned to sustain its steady production growth for the next few years on the back of its large resource base at NCS. We also believe that the growing share of natural gas in the company’s NCS volume mix and its extensive interests in infrastructure assets enable it to play a leading role in the European natural gas market.

Within the oilfield services group, we like Core Laboratories N.V. (CLB - Analyst Report). We are a fan of Core Labs’ leadership position in the reservoir optimization niche, along with its global footprint and deep portfolio of proprietary products and services. Furthermore, the company’s low asset intensive operations and limited capex needs allow it to generate substantial free cash flows.

Baker Hughes Inc. (BHI - Analyst Report), the world’s third-largest oil services firm, is also a top pick. We like Baker Hughes’ leading position in the global oilfield services market, along with its broad and technologically-complex product and service offerings.

We believe Baker Hughes is well positioned to gain from two positive aspects having positive influences on the global oil service business. The first is a structural shift in North America mainly benefiting from the integration of BJ Services business, and the other is an international turnaround that is in its early stages.

Among the oil drilling equipment makers, we are particularly bullish on FMC Technologies Inc. (FTI - Analyst Report) and Cameron International Corp. (CAM - Analyst Report). We believe both the companies are well positioned going forward given their dominant market share, technology leadership, efficient execution skills and strong backlog position.

The increase in North American drilling activity, along with potential opportunities from the industry complying with new pressure control equipment rules, has added to this bullish sentiment. Furthermore, we believe that FMC Technologies and Cameron are poised to benefit from the improving subsea activity levels through 2011.

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