Energy services companies have been no strangers to pressure over the last several years. Drilling continues to dive deeper and deeper underground and below the water's surface. However, this intense pressure isn't what has been holding back shares of these companies lately. What has been holding them back is the pricing pressure in the North American land natural gas market.
Where to turn in times like these?
Due to a slowdown in natural gas drilling, coupled with an abundance of horsepower, services companies like Halliburton (NYSE:HAL) and Schlumberger (NYSE:SLB) have seen margins crimped in this market. Luckily for Schlumberger, over 70% of its revenues come from abroad. The last couple of years have certainly impressed the importance of the international market on Halliburton, and it is starting to take measures that should pay off handily over the next decade.
What exactly has Halliburton been up to? Tune in to find out: