As oil price crisis grips the globe, small Texas producers feel the ripple effects
For decades in the tiny Texas Panhandle town of Perryton, John Bozeman has bought oil and gas wells from companies and says he operated them for a lower cost and with better efficiency.
“And I produce the wells until they’re no longer capable of producing,” Bozeman said, “and then I plug them up.”
Recently, he’s been forced to plug some up even before they’ve produced all the oil they can. The…