As I write this in January, a lot has been happening in the drilling industry. The price of oil has dropped from a high of over $100 to under $50, and the price of gasoline has gone from nearly $4 to under $2 in less than a month. What does this mean?
As most of you know, I have been involved in the drilling industry for most of my career, involved in water well drilling, geotechnical drilling, heat pump drilling, oil and gas drilling, and just about anything else that required a hole in the ground. I’ve seen the booms and the busts come and go. I know that all drilling requires that the driller provide a useful and profitable hole for the customer.