West Texas oil producers reduce capital budgets, rig count – Washington Times.
MIDLAND, Texas (AP) — A swift plunge in the price of crude is sending shockwaves across West Texas oil country.
Some producers in the oil-rich Permian Basin are slashing spending plans for 2015 as crude prices have fallen by nearly half in just six months, according to the Midland Reporter-Telegram (http://bit.ly/1xp2ZAj).
Read more: http://www.washingtontimes.com/news/2015/jan/19/west-texas-oil-producers-reduce-capital-budgets-ri/#ixzz3POWTNeGW
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