Oil & Gas Capex Boom: Anshul Saigal Names Energy Stock He Owns | Saigal Capital Advisors

Anshul Saigal, CIO & Founder, Saigal Capital Advisors, names an energy stock held in his long-term portfolio and explains why he sees strong tailwinds for the oil and gas services space. Saigal says his firm bought Deep Energy earlier this year when the company was trading at single-digit multiples, with its business already performing well. He highlights the potential for higher oil and gas capital expenditure and compares the company to the “shovels” that benefit during a gold rush. Saigal says Deep Energy provides infrastructure and services to upstream oil and gas companies, including drilling and gas compression. He also points to ONGC’s recent gas discovery in the Mahanadi basin as a potential demand driver for oil and gas services. Saigal cautions that this is not a buy recommendation.