The number of onshore oil and gas wells in the U.S. will fall 26 percent this year to 27,000, research firm Wood Mackenzie said in a new report published Thursday.

Oil fields at risk: Where the slowdown has begunCNBCU.S. oil production grew 49 percent between 2008 and 2013, as drillers improved productivity and tapped high-yield debt markets. But with their product fetching far less these days, exploration and production companies have slashed capital expenditure ...

ForbesOil Billionaires Hit The Bargaining Table As Kinder Morgan Pays $3B For Harold ...ForbesPlummeting commodity prices have started to take a bite out of the U.S. oil patch, but even with no imminent end to the pain in sight, the value hunters are emerging. Companies like Schlumberger Schlumberger, Halliburton Halliburton and Baker Hughes ...Oil tycoon Harold Hamm sells company for $3 billionKinder Morgan to Buy Oil Pipeline Company From Harold Hamm for $3 BillionOil Tycoon Harold Hamm Is Selling $3...

Oilfield service providers Baker Hughes Inc and Halliburton Co plan to cut thousands of jobs as drilling activity slows further due to a steep fall in crude oil prices. Global oil prices have tumbled almost 60 percent since June, hitting five-year lows as growing production and tepid global demand has caused a supply glut and prompted oil producers to scale back spending.

Baker Hughes to lay off 7,000 as oil patch layoffs mount 7,000 more oil services workers to lose jobs in wake of crude oil slump. Check out this story on This August 21, 2013 file photo shows an oil well near Tioga, North Dakota.

FortuneWith crude prices sinking, oil industry layoffs are on the wayFortuneOilfield services provider Baker Hughes BHI said Tuesday it planned to layoff 7,000 workers to cut costs. At almost the same time, Halliburton HAL suggested that it would also slash its payroll without giving any specifics. The planned job cuts reflect ...Baker Hughes to lay off 7000 as oil patch layoffs mountOil company Baker Hughes cuts 7000 jobsUS oil firms see drilling slowdown continuing as prices slump -

Baker Hughes to lay off 7,000

Published - Jan 21, 2015

Via Robert Grattan, FuelFix: HOUSTON — Baker Hughes said Tuesday it will lay off 7,000 mostly in the first quarter of 2015, amid a crude oil price slump and drilling slowdown it expects to worsen in the next quarter. The announcement came shortly after the oil service company reported that its net income for the […]

Via Ryan Holeywell, FuelFix: HOUSTON — Halliburton officials say they’re bracing for a tough year as falling oil prices are prompting their customers to slash their budgets. As oil prices have fallen more than 50 percent from their summer peaks, Halliburton’s customers have cut their budgets by an average of 25 percent to 30 percent, […]

EagleFordTexas.comHalliburton profit up but warns on oil price dropUSA TODAYOilfield services giant Halliburton posted stronger fourth quarter revenue and earnings Tuesday, but warned that slumping crude oil prices had weakened its outlook for 2015. The company said revenue rose 14.8% to nearly 8.8 billion from $7.6 billion in ...Halliburton Defies Oil Price Free Fall to Beat Q4 Earnings

USA TODAYCrude Oil Is Tumbling AgainBusiness InsiderIn morning trade on Tuesday, the price of West Texas Intermediate crude oil in New York was down more than 4% and briefly cracked $47 a barrel. Brent crude oil, the international benchmark, was also lower, down about 1%. The decline in crude comes ...Oil slumps again on lower economic forecastHow crude oil prices determine the number of oil rigs in play

Baker Hughes and Halliburton plan to cut thousands of jobs as drilling activity slows further due to a steep fall in crude oil prices.

Baker Hughes expects to lay off about 7,000 employees, days after Schlumberger says it would cut jobs as drilling activity slows due to a steep fall in oil prices.