Service and supply firms furnish industry's technology and expertise

Oilfield service and equipment supply companies form the backbone of the petroleum industry. Without them, oil and gas exploration and production would be difficult to impossible. These days, nearly all major technological advances, from drillbits to fracturing technology, come from the service companies and manufacturing side of the business.

Many companies specialize in providing services and equipment for harsh environments, such as the Arctic regions or the ultra deepwater. Others have come up with solutions to make the economics of shale gas formations and oil sands workable. Still others provide crucial data and precise seismic analysis of formations to reduce drilling and exploration risk.

This year, as the economic climate improves and energy demand returns, the need for competent and competitive oilfield service companies will grow. Collectively, these companies employ several hundred thousand workers and professionals in the US alone, and the revenues they earn and salaries they pay out go right back into the country's economy.