In a gold rush it is typically the prospectors who get all the attention even as the people selling them picks and shovels quietly strike it rich. This storyline did not play out during the energy boom though. Oilfield service stocks were arguably hotter than producers themselves as investors realised vital equipment and talent were in short supply.

When the bubble burst, the letdown for oilfield service companies was even more brutal than for producers themselves. But the doubling of crude prices since the spring has given their share prices a lift to match the exploration and production companies.