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What Is Causing Oil Services to Flock Overseas?

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Wildbilly Member Level  Tuesday, 08/27/13 11:26:24 AM
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What Is Causing Oil Services to Flock Overseas?
By Tyler Crowe

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 (NYSE: NOV  ) has 92% of its rig backlog dedicated to international customers, and Nabors Industries (NYSE: NBR  ) 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.
http://www.fool.com/investing/general/2013/08/23/what-is-causing-oil-services-to-flock-overseas.aspx


(holding in a nice upward trend, so far.)



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