Home
Decline of nearly 40% in new US oil and gas applications for November

Decline of nearly 40% in new US oil and gas applications for November

Industrial data firm Drilling Info Inc. has provided data to Reuters showing a decline of around 40% in new US oil and gas applications in the month of November.

In October there were 7,227 recorded applications; however a month later only 4,520 applications were received across the US.

This represents one of the largest declines in applications since the shale boom began, the CEO of Drilling Info, Allen Gilmer, suggested that the sudden change was a “very quick response” to further plunges in oil prices. US crude prices settled $66.88 by end of trading on Tuesday.

 

Read more at: Decline of nearly 40% in new US oil and gas applications for November