JAG

Today, the House Energy & Commerce Subcommittee and the Senate Energy and Natural Resources Committee each hosted hearings focused on the ways that the COVID-19 pandemic has impacted the energy industry in the U.S. In response, IADC President Jason McFarland issued the following statement: “COVID-19 has hit IADC’s membership particularly hard. Since mid-March, more than 65% of all U.S. land rigs and 34% of offshore rigs have been idled due to loss of demand. Restrictions from COVID-19 combined with the flooding of the oil market by America’s adversaries has resulted in one of this industry’s worst periods of job and revenue loss.