NY Times article
here.

Oil rigs stacked for storage near Midland, Tex. The oil industry regularly
undergoes booms and busts. But the downside of this cycle may prove more
extreme, and messier.

If prices hold at such low levels — oil traded near $28 on Tuesday — as many as
150 oil and gas companies could file for bankruptcy, according to IHS, an energy
research firm.

While that represents a relatively small slice of the overall industry, there
are hundreds of other companies that had piled on debt to grow from tiny
start-ups into significant players in the nation’s shale oil boom. Now they are
likely to be acquired or their assets sold off. As much as a third of the oil
industry could be consolidated as a result of the downturn, according to one
estimate.

http://www.npr.org/2016/02/10/466250585/low-prices-cause-carnage-in-the-oil-industry

http://ozreport.com/2016BigSpringNationals.php