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.

In response to the U.S. Senate passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act, International Association of Drilling Contractors (IADC) President Jason McFarland issued the following statement: "The COVID-19 pandemic, along with the collapse of worldwide oil markets and hardships across both the U.S. and global economies, has necessitated a government response that rises to the challenge of the crisis. Enactment of the CARES Act, expected on Friday, benefits the U.S. economy and the millions of Americans who work in the industries vital to this country’s success...