Times are tough right now for anyone in the oil and gas industry. Continued low oil prices are pushing operating and service companies to the brink. The possibility that this season of disaster will soon end is low. The New York Mercantile Exchange (NYMEX) predicts that WTI crude oil will remain below $80 bbl. through 2022. The U.S. Energy Information Administration says it may break the $80 mark a year earlier. Either date is a long time for an industry in disarray.
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