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Onshore Advances

US shale drilling positions for survival

As oil prices tumble to stomach-churning lows and E&Ps slash CAPEX budgets one after another, drilling contractors turn their focus to business sustainability in preparation for further drops in the rig count By Stephen Whitfield, Associate Editor The COVID-19 pandemic has sent shock waves through the industry over the past couple of months. As the global economy ground to a halt, the outlook for US shale and land drilling has become much less certain. Operators and drilling contractors have scrambled to position themselves for the long haul as best as they can. In a market that was already oversupplied, energy demand has now fallen off a cliff, although the full impact will depend on the duration of the pandemic and ...

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