Driller Risks Persist As More Oil & Gas Wells Shut Down

By Keith Goldberg (March 30, 2020, 9:44 PM EDT) -- The collapse in oil prices will prompt the widespread closure of oil and gas wells, and the longer they remain shut in, the bigger the financial and environmental headaches they will create for both drillers and regulators.

Drillers big and small are slashing production as coronavirus-depressed demand and market flooding by Saudi Arabia and Russia have sent oil tumbling to the $20-a-barrel mark. But experts say companies must ensure they don't breach the terms of their leases or regulatory requirements when they shut in wells until prices recover to a point where they're profitable again.

"For the last three weeks, we are...

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