Declining oil prices have driven gasoline prices to record 10 year lows. This is great news when we are filling our gas tanks, but not such great news for our economy.
U.S. crude oil prices that topped $100 per barrel this summer have plunged to barely $60 the first weeks of December. When prices fall this low, energy companies begin scaling back plans for future oil drilling and exploration. Lower oil prices will result in job loss and revenue loss for road maintenance and other infrastructure costs. (1) When oil revenue is cut back, companies that explore and drill for oil must cut costs also. It is expensive to run a drilling operation and we have found that some of the best ways to save money for those companies is to use the preventative and cost saving services of a good oilfield service company.
U.S. crude production expanded to 9.12 million barrels a day in the week ended Dec. 5, as reported by the Energy Information Administration. That’s the fastest rate in weekly records since the EIA started keeping these records in January 1983. “The market is in freefall,” reports Steven Shork for Bloomberg News. “Prices will continue to fall until the Saudis signal that they are prepared to take action or we see the global economy pick up.” (2)
So, what can any oil drilling company in New Mexico or West Texas do to alleviate costs while dealing with this decline in oil prices? They can use the cost and time saving services of MEC Services, the only service company you will ever need serving New Mexico in Carlsbad, Artesia, Hobbs, and West Texas. We offer these premium services:
- Hot Shot Services – MEC will work with your company to provide the most competitive rates for hot shot services in the industry. We specialize in time-sensitive loads and are available 24 hours a day.
- Equipment Transport – We are equipped to handle all of your transport needs. Call us for specifics, but rest assured we can move the heaviest of equipment, up to 70,000 pounds!
- Pressure Washing – We offer the best pressure washing team in the industry. We will send our crew and equipment, or rent you the equipment to do-it-yourself. Pressure washing your trucks, machinery and service walkways is one of the best preventative measures you can take against accidents, wear and tear, and the expensive cost of repairs due to poor maintenance.
Call MEC Services, Inc. in New Mexico and West Texas for the best oilfield services your company can receive. For us, it’s all about customer service. We take care of you.
Sources:
(1) http://www.bloomberg.com/news/2014-12-11/wti-falls-to-5-year-low-as-saudis-question-need-to-cut.html