Surging U.S. oil production on the one hand, and the exploration and production companies’ focus on keeping costs in check on the other, have prompted drilling rig makers to shift their technology offering to solutions for increased productivity. The largest U.S. rig fleet owners and operators are looking to secure contracts as the U.S. oil rig count continues to increase , which, as of last week, stood at 804 active oil rigs—up by 152 rigs compared to this time last year. So far in 2018, the oil and gas rig count in the United States has increased by 71 rigs. National Oilwell Varco (NOV), for example, is offering upgrade kits for some of its rigs that are already in the field. The upgrade kit extends lifecycle and utilization of existing iron roughneck and increases torque magnitude to meet the emerging rig application demands associated with longer lateral wells, according […]