IHS Says Drillers Need to Cut Spending 50% *This Year*

Yesterday MDN highlighted a couple of “bad news for the Marcellus” stories: The Dismal Outlook for Marcellus/Utica Drilling in 2016 and Rig Counts for World, US & Marcellus/Utica Continue to Tumble. We’re aware that at least one anti group picked up and repeated our stories to their email list–no doubt as a twisted celebration of some sort. So be it. At MDN we don’t sugarcoat the truth. It is bad out there and will continue to be most likely for this year and into next year. We’re not the only ones who don’t sugarcoat the truth. IHS, a highly respected oil and gas research firm, is out with more analysis of their IHS Energy Comparative Peer Group Analysis of North American E&Ps. In this latest analysis, IHS uses words like “gloomy outlook” and says drillers (E&Ps), in order to stay afloat, will need to spend about 50% less in 2016 than they did in 2015…

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