Rigs Walk Their Way to Profits for Oil Service Companies

"Walking" rigs save a lot of time and money on pad drilling sites. Instead of having to be disassembled, moved, and re-assembled, these new drilling rigs can walk from one drilling location on a PAD to another drilling location in a matter of hours. For some this saves almost $1 million for each move. Shale oil producers have been able to boost their output 600% for every one of these rigs they use according to EIA. Oil field service companies that can do that for their customers are going to profit.  Baker Hughes, Schlumberger, Halliburton, and Weatherford are four of the most advanced suppliers of oilfield services. Read more.