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Signs of life emerge from the energy services sector

The energy services sector is showing signs of life following a pair of decent-size financings, both led by Peters & Co. Ltd., despite an uncertain outlook for commodity prices.

The companies, PHX Energy Services Corp. and CanElson Drilling Inc., are raising nearly $60-million in total as service sector stocks outperform the exploration and production companies, partly on expectations of a big ramp-up in activity tied to Canada’s liquefied natural gas prospects, according to industry sources.