Big US Oil Producers Plan to Cut Drilling Rigs 4%, Survey Finds
This article is for subscribers only.
Some of the biggest US shale-oil producers plan to slash about 4% of their drilling rigs by the end of the year, according to a survey from one of the largest providers of the equipment.
The survey by Nabors Industries Ltd., a Houston-based drilling contractor, included 14 explorers, accounting for about 43% of drilling rigs in the Lower 48 US states. The company conducted it just after President Donald Trump announced his tariffs.