Halliburton, other drillers fight for new life in a world of cheap oil

For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival.

Five years after crude began its plunge to less than US$30 a barrel from more than US$100, the companies that drill and frack wells are living in a new world. The producers they work for have become increasingly efficient and cost-conscious, reacting to shareholder demands for payback and a crude market that’s recovered only part of that brutal decline.

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