It seems that every day a new press release comes out about a big oil or gas discovery, and increasingly these announcements have one thing in common: All the finds are in offshore fields.

As offshore exploration and development increase, oilfield service companies are in high demand. In this video, contributor Aimee Duffy talks to Tyler Crowe about how offshore production has affected oilfield service companies, and what investors can expect going forward.

Fool contributors Aimee Duffy and Tyler Crowe have no position in any stocks mentioned. The Motley Fool recommends Chevron, Halliburton, National Oilwell Varco, and Oceaneering International and owns shares of National Oilwell Varco. 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.