NEW YORK, NY — (Marketwire) — 10/19/11 — As oil companies look to squeeze the most profit out of production, companies are expanding their horizons with new technology to get the most out of low producing or abandoned wells like (LEI) or taking a non-operator position in a project like Cross Border Resources (OTCQX: XBOR) (OTCBB: XBOR), (VOG) and (NOG).
Both of these factors have helped companies lower costs and increase profits. Redrilling of abandoned wells with new techniques reduces geological survey costs and taking a non-operator position in an oil field increases profits with reduced work force needs and reduced machinery costs.
In a Seeking Alpha article, horizontal drilling is outlined as a “boon for energy services stocks” (). The rapid increase in horizontal drilling in the energy sector are re-defining the need and demand for North American energy services companies. These advances combined with the non-op model gives companies in these two outlined areas and advantage over smaller operators.
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