Banker says big drop in oil prices is not cause for panic by drillers

An investment banker told the Dallas Business Journal that well-managed oil and gas drilling companies should not panic despite the recent decline of crude oil prices by more than $25 a barrel. "Absolutely not," said David Mahmood chairman for Allegiance Capital Corp., a Dallas-based investment bank that specializes in mergers and acquisitions. While noting that drillers in expensive, tight shale formations will feel the price drop first, Mahmood says management teams that are experienced and planned ahead for drops in commodity prices will weather the storm. For more, read the full story.