Oilfield Housing Firm's Stumble May Herald More Oil Industry Pain
by Reuters
|
Ernest Scheyder | Wednesday, December 31, 2014 | 4:24 AM EST
In the offshore drilling market, Hercules Offshore has cut 15 percent of its staff, while Transocean Ltd has said it will scrap seven older offshore rigs as softer demand means only the newest rigs can win contracts.
(Reporting by Ernest Scheyder in Williston, Anna Driver and Kristen Hays in Houston and Jim Regan in Sydney; Editing by Terry Wade and Tomasz Janowski)
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