Operators take shelter from the oil price storm ///

It’s been quite the wild ride that U.S. oil and gas firms, and their service company partners, have been on during the last eight-plus months. Indeed, one has to go all the way back to 1986 to find an industry downturn as severe as the current one. During that year, U.S. drilling fell 45.4%, from 1985’s figure of 71,108 wells to just 38,809. This year’s decline is not quite that severe at –39.6%, but the effects across the industry are very much the same.

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