Furthermore, it has a relatively healthy balance sheet, unlike many large oil producers. Net debt at year-end is expected to stand at $900m, which is quite low considering the firm posted $332m in EBITDA in the first six months of the year, even including a final $100m charge related to a poorly executed North Sea project that is now complete. Low debt and sustained cash flow means the company's 5.1% yielding dividend is incredibly safe, even during the current industry downturn. And with the shares trading at just 12 times forward earnings there's plenty of room for upward price movement should crude prices continue to rise. All in all, a stable revenue base, healthy cashflow and very safe, high-yielding dividend make Petrofac my pick in the turbulent oil & gas sector.