So, it turns out The Wall Street Journal doesn’t have a section in their fine publication devoted to coated components. But here’s the thing – what we do, what you do, it’s a BIG deal. So we’re not going to quit our day jobs, but we monitor what’s going on and post it here on our site. Make sure to bookmark this page, visit often and tell your friends. This is your hub for news and updates for the industry.
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After a year of cutting cost and capital, optimism remains as drillers continue to pump oil. Oil Companies Have Cut Back Everything Except Crude Production By: Dan Murtaugh and Naureen S. Malik (Bloomberg) (Bloomberg) -- A year after the bear market in crude began, oil companies have cut workers, are using fewer rigs and have less money to spend. But theyre still pumping more oil. BP Plc, Royal Dutch Shell Corp. and Hess Corp. are among the companies producing more crude than a year ago. In the U.S., shale explorers have focused on the most productive parts of their land, drilled faster and better wells there and negotiated lower prices from oilfield service companies. Its helped keep total U.S. output about 1.6 percent higher than at this time last year, even as drilling rigs have fallen by 63 percent. A well that broke even at $60 18 months ago is now at $40, said Harold York, a senior analyst for Wood Mackenzie Ltd. in Houston. If drilling a well generates a return greater