Many thought that the OPEC-induced oil market downturn would send U.S. fracking to its grave. However, instead of killing fracking, the downturn made it stronger by significantly driving down costs. As a result, the industry is set to start growing again this year.
While that trend certainly bodes well for shale producers, they aren’t the only fracking stocks to consider buying. Investors should also take a close look at “pick-and-shovel” plays such as fracking equipment and service companies, producers of sand for fracking, and pipeline and processing companies.