mo4ch:>Shale jobs in jeopardy despite oil price rally | Mo4ch News

Oil prices continue to rally, but not all is well in the US shale patch as drillers are facing both operational issues and have laid off hundreds of people.US shale drillers have run into a series of problems that have resulted in increased scrutiny on their operations. The difficulties span their operations – production issues, poor financials and less love from Wall Street.Even as WTI has moved solidly above $60 per barrel, the US shale industry is trying to find ways to right the ship. As Reuters reports, a series of drillers, even prominent ones, are laying off workers. Pioneer Natural Resources – often held up as one of the better of the bunch – and Laredo Petroleum announced just this week that they will be cutting staff. As Jennifer Hiller of Reuters points out, Pioneer has not laid off workers since 1998. In March, Devon Energy eliminated 200 jobs.According to a report from Tudor, Pickering, Holt & Co., the recent layoffs may not be the end of the story. Everyone should ex…