Noble Corp.’s acquisition of Pacific Drilling announced this week in a merger of drillers points to the troubled state of the oilfield service sector, even with more activity expected this year as the industry recovers from the pandemic. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Drillers and suppliers of oilfield support services and equipment have struggled as oil prices have waxed and waned in recent years and face headwinds even now despite prices recovering above $60/b after a tumultuous 2020 and a brighter outlook ahead. Even when prices were near today’s levels, as in a pre-pandemic 2019, for example, the benefits of more expensive oil failed to trickle down to the service sector, owing to producers’ capital discipline, efficiencies and the recent […]