The oil services space has never been more competitive. Companies are all looking to profit from advances in the oil and gas industry through new services such as pressure pumping. To really stand out among its peers, companies are developing technology advantages. Halliburton (NYSE:HAL), Nabors Industries (NYSE:NBR), and Core Laboratories (NYSE:CLB) each have established themselves as technology leaders in respective spaces. That should bode well for each company in the future.
In the case of Nabors Industries, the company's Pace X rig is a play on U.S. demand for pad drilling. This new rig allows a driller to drill several wells at a single site without needing to assemble and disassemble the rig, making operations at pads much more efficient. This new rig, the technology leader in the space, has allowed Nabors to capture a large portion of the market for these particular rigs. Tune in to the video below to learn more about the technological advantages of both Halliburton and Core Labs, and what it means for each company.
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