As the U.S. rig count continues to climb this fall, and operators focus on pad drilling and other efficiencies to make shale plays more economic, the demand for rigs, frac crews, pressure pumping and other services will continue to grow. Service margins are rising in tandem. In late September, as Helmerich & Payne Inc. neared the end of its fiscal year, it reiterated that shale plays are driving the company's rig counts and dayrate margins higher.
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