It’s not just the big oil companies struggling in the oil crisis, laying off hundreds of workers and making the momentous decision to shut in wells and stop the flow of too much crude into the world market.
Small companies are suffering perhaps even more. One example of their suffering was reported this week in the Yukon Progress where it cited the story of Red Bluff Resources.
Red Bluff Resources is an independent oil and natural gas company operating in the core of the STACK and Northwest STACK plays of Central Oklahoma. With over 75,000 net acres and 200 operated wells, Red Bluff described itself as one of the largest and most active private exploration and production companies in the STACK.
Red Bluff was formed in July 2015 in partnership with Pine Brook and Red Bluff Management and Timothy Haddican has been its CEO ever since.
Robert Medley, Managing Editor wrote about how the small company has halted all new drilling in Canadian County.
The story is headlined, “Oil production tanking at unprecedented level in area.”
Click here to read story at Yukon Progress.
