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Photography, Digital on Carbon Fibre
Size: 400 W x 500 H x 5 D in
Working oil rigs fell by 20 this week to 805, according to data released Friday by oilfield-services provider Baker Hughes, a GE company. Companies have boosted activity just twice in the past 10 weeks. In previous booms, a 40% price bump such as has been seen this year would’ve spurred greater activity, according to Helmerich & Payne Inc., the biggest U.S. onshore rig contractor. “Yet today, we are seeing a more tempered response and even reductions in activity by some in the industry,” CEO John Lindsay told analysts and investors during a conference call. “Clearly, customer behavior is changing and the movement is towards prioritization of cash flows and less focus on growth.”
Photography:Digital on Carbon Fibre
Original:One-of-a-kind Artwork
Size:400 W x 500 H x 5 D in
Frame:Not Framed
Ready to Hang:No
Delivery Time:Typically 5-7 business days for domestic shipments, 10-14 business days for international shipments.
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