SandRidge Energy Inc. (SD), Pioneer Natural Resources (PXD), Vanguard Natural Resources, LLC (VNR): American Energy Independence Needs You

Another option is to invest in the companies providing innovative solutions to save oil and gas drillers money, such as oil-field service companies like Halliburton Company (NYSE:HAL) or Baker Hughes Incorporated (NYSE:BHI). Halliburton Company (NYSE:HAL) is working on its “Frac of the Future” program which is designed so save producers money. In one example, the company is utilizing natural gas powered service equipment, which saves money by reducing the use of diesel. Not only that but it’s bringing green energy to the oil field through its use of solar panels on a critical piece of equipment, which reduces both its carbon and physical footprints.

Meanwhile, Baker Hughes Incorporated (NYSE:BHI) has been working with oil and gas producers that have been moving aggressively to multi-pad well drilling. That move is saving producers like Pioneer Natural Resources (NYSE:PXD) upwards of $700,000 per well, which is enabling the company to drill the same number of wells as it did last year, but with 20% fewer drill rigs. Despite those savings, Baker Hughes actually earns margins that are 30%-50% higher, which is great for its bottom line, and its investors.

The article American Energy Independence Needs You originally appeared on Fool.com and is written by Matt DiLallo.

Fool contributor Matt DiLallo owns shares of SandRidge Energy and has the following options: short September 2013 $5 puts on SandRidge Energy. The Motley Fool recommends Halliburton.

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