Speedcast forecasts imminent turnaround in energy services market

by Peter B. de Selding

PARIS — Satellite enterprise services provider Speedcast International on Aug. 29 said the multi-year depression in the energy-services sector is showing signs of a rebound and that its purchase of Harris CapRock looks to have been well-timed.

As expected, the unofficial “consolidator-in-chief” of the satellite services business reported mixed results, with its Enterprise and Emerging Markets business reporting zero growth but its larger Energy and Maritime businesses buoyed by acquisitions.

Speedcast reported a 100% energy-customer renewal rate for the six months ending June 30 . . .

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