Oil Drillers Must Slash Another $24 Billion This Year, IHS Says

  • Analysis is based on IHS’s low-case price scenario of $40 oil
  • Examined $78 billion of plans at 44 North American producers

Are Low Oil Prices Here to Stay?

North American oil and natural gas drillers will need to cut an additional 30 percent from their capital budgets to balance their spending with the cash coming in their doors even if crude rises to $40 a barrel, according to an analysis by IHS Inc.

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