Re-fracking can be up to two-thirds cheaper than drilling a new well, which is an alluring possibility for cash-strapped U.S. producers who are straining to keep operational costs down and drilling operations intact.
Among the problems found, employers were failing to include bonus payments when calculating overtime rates, weren’t paying for time spent working off-the-clock and paying flat rates despite the hours worked by employees.
The service costs associated with housing and feeding employees in remote locations like the Permian Basin in West Texas and the Bakken Shale in North Dakota typically skyrocket in boom times, Halliburton President Jeff Miller said.
Wildcatter Aubrey McClendon’s oil and gas startup in West Texas may be the latest venture in the Permian Basin to beckon for Wall Street investors, sitting astride one of the most lucrative U.S. shale plays.
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