Oilfield services companies will need new approach to bounce back from oil bust

Oilfield services companies can no longer rely on their traditional oil bust strategy of cutting costs, laying off people and offering deep discounts to customers, reports FuelFix.com. Citing an analysis by management consulting firm Bain & Co., the energy news site says the industry will have to “reshape the way it does business to meet the evolving needs of oil companies clamoring for cheaper and more efficient tools and services rather than the expensive, custom-fit solutions that the services providers had been pursuing before prices collapsed.” For more, read the full story.