The Dismal Outlook for Marcellus/Utica Drilling in 2016
Yes, it's bad out there and getting worse--at least in the short term--when it comes to drilling in the Marcellus and Utica Shale. Several major drillers in the northeast have announced cuts--big cuts--and those cuts will impact not only the employees at those companies, but also the many supply chain companies that provide goods and services to them. There were a paltry 19 rigs operating in Pennsylvania last Friday. In January 2014, just two years ago, there were 55 active rigs working in the PA Marcellus. Here's a recap of who's cutting how much in 2016 (and perhaps beyond)...
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