Permian Basin drilling activity dries up as oil prices sink
Published: Monday, 30 March 2020
Oil drilling activity in the United States has fallen sharply with the price of the commodity tumbling, which will in turn sap the demand for frac sand and other oilfield minerals.
According to data from oilfield services company Baker
Hughes, the number of active drilling rigs in the Permian Basin
fell by 23 week on week to 382 on February 27. This was the
biggest one-week drop in the region since the oil price crash