What Is Causing Oil Services to Flock Overseas?
There are lots of opportunities in the energy industry, but several oil services companies are looking past the borders of North America for their profits. National Oilwell Varco has 92% of its rig backlog dedicated to international customers, and Nabors Industries is pulling some of its rigs out of the U.S. to be used overseas.
Rig companies and other oil services providers are finding that the expertise and equipment that was developed in the U.S. to make oil and gas exploration more efficient is now in demand abroad. Companies are looking to lend their expertise to others and pull in a hefty profit along the way. Tune into the video below where Fool.com contributor Tyler Crowe takes a look at some other companies planning to dedicate more business to international customers, and asks what value they would offer.
One possible reason that international customers are lining up is that the U.S. has a distinct advantage in the energy industry today. Imagine a company that rents a very specific and valuable piece of machinery for $41,000... per hour (that's almost as much as the average American makes in a year!). This one behind-the-scenes energy giant's business model is the poster child for America's energy advantage. An exclusive, brand-new Motley Fool report reveals the company we're calling "OPEC's Worst Nightmare". Simply click here to uncover the name of this industry-leading stock.
The article What Is Causing Oil Services to Flock Overseas? originally appeared on Fool.com.Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter: @TylerCroweFool. The Motley Fool recommends Halliburton, National Oilwell Varco, and Seadrill. The Motley Fool owns shares of National Oilwell Varco and Seadrill. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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