ProPetro CEO compares oil services industry's pain to waterboarding

CNBC | on Fri, Mar 17, 2:36 PM

ProPetro provides hydraulic fracturing and other services to companies in the Permian Basin, which underlies parts of Texas and New Mexico. The region is the epicenter of the U.S. drilling recovery because exploration and production firms can produce oil at relatively low cost there. A Permian land rush[1] has raised questions about the availability of workers to drill wells and carry out hydraulic fracturing, the process of injecting water, minerals and chemicals into wellbores at high press...

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