The oil and gas services industry traditionally realizes increased revenue in line with global rig growth. However, over the past several years, increased technology has allowed service firms an opportunity to increase revenue intensity through state-of-the-art drilling and 3-D seismic technology. As more integrated majors move to increasingly more difficult locales, the most advanced service firms are primed to earn a greater piece of the drilling pie.
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The article Technology Is the Future for Oil and Gas Service Firms originally appeared on Fool.com.
Austin Smith has no positions in the stocks mentioned above. Joel South owns shares of Schlumberger and Halliburton. The Motley Fool owns shares of Halliburton. Motley Fool newsletter services recommend Halliburton and Schlumberger. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.