Day: January 29, 2016

Drilling deeper into the ground

As the price of crude oil fell from $115/bbl to $30/bbl, life for the offshore oil drillers became much more challenging. Drilling offshore was a necessary precursor to many deep-sea oil production projects – which themselves were only economically viable at very high oil prices. At $30/bbl oil, most of these projects are uneconomic; and […]