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Lower Commodity Prices Spark Dim Outlook For Land Drillers

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Richard Mason
June 29, 2012

With sell-side downgrades coming faster than a summertime Houston heat wave, it appears the land drilling sector has developed a little Saturday Night Fever of its own.The land drillers were fashionably late to this cycle’s services downgrade discotheque. Previously land drillers were always the first on the rig rate decline dance floor whenever the cycle turned. This cycle, pressure pumpers began the pre-announcement boogie early, upstaging the land drillers.In fact, there were skeptics who thought the land drillers might not shake their money maker this go-round thanks to multi-year contracts ...

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