A New Direction in Energy M&A

June 3 - The Motley Fool - When it comes to onshore drilling for oil and especially natural gas, directional is the new vertical.

Now that the industry is targeting shale plays like the natural gas-bearing Marcellus and the oil-bearing Bakken, players such as Devon Energy, Chespeake Energy, and XTO Energy all have to send their drillbits sideways to hit more "pay."

This is a major boon for drillers like Precision Drilling Trust, whose rigs are able to perform this more demanding directional activity. Another beneficiary of the trend is W-H Energy Services, whose PathFinder subsidiary provides both the personnel and the equipment to hit those hard-to-reach reservoirs. Read More.