For Investors Only: A Down Day for the Market, Debt Ceiling Debate Continues, and Yet These With 52-Week Highs -- Bakken, North Dakota, USA

On another down day for the stock market, these companies hit 52-week highs:

• Schlumberger
• Halliburton
• National Oilwell Varco
• Baker Hughes (acquired BJ Services in 2010)
• Williams Partners L.P.

All of them are in the Bakken, to the best of my knowledge.

Motley Fool: Oil service industries is where you need to be.

Schlumberger, the oilfield services giant chalked up revenue for the second quarter of the year of $9.62 billion, versus $5.94 billion for the second quarter of 2010. That, for those of you who are keeping tabs, amounts to a 62% year-over-year leap. Income from continuing operations sans charges was $1.34 billion, a 45% year-on-year improvement from $818 million. Earnings per share reached $0.98, compared with $0.68 for the same quarter in 2010. The company roundly beat the Wall Street consensus of $0.85 per share.

By the way, did  you see BHI's earnings?

The company’s earnings of 93 cents a share inched passed the Zacks Consensus Estimates by 2 cents, but showed a dramatic improvement from 23 cents earning a year ago.

Had they increased their earnings from 23 cents to 46 cents that would have been a 100% increase. Doubling that 46 cents takes time to 92 cents, and BHI earned a penny more than that. Buying BJ Services in 2010 looks really, really good in hindsight. This is BHI's fifth consecutive quarter of double-digit revenue growth.